SamKent
Short

AUD/USD shorting plan

FX:AUDUSD   Australian Dollar / U.S. Dollar
275 views
3
275 0
The Structure of the AUD/USD 4H chart is appealing to us. We're looking at a quite orderly down-trend, which supplies us with a reasonable looking entry. Our entry point is around the 0.8560 level, a level which has acted as support and resistance before, which coincides with the 50% of the beginning of the latest zigzag downwards. Our stop will be just above the latest swing high, as if it's violated the market conveys to us that bearish pressure is declining. Our initial target will be the recent lows, making for a solid 2.8 to 1 risk reward to begin with.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out