AUDUSD (1D): Short-Term Retracement Trade

AUDUSD
Timeframe: 1D
Direction: Short

Confluences for Trade:
- Price action at 23% Fibo level
- Price action at a Short-Term Resistance Trendline
- Price action at a Horizontal Trendline
- It needs alot of positive fundamentals to push the AUD up further for now
- Pair recently broke out from a triangle, likely to retrace and test back the triangle support
- Stochastic Overbought momentum (D1, H4 and H1)

However, do note that this is a short term trade idea. The long term trade idea is as per previous post (linked below).

Suggested Trade:
Entry @ Area of Interest 0.7250 - 0.7290
SL: 0.7326
TP: 0.7171
RR: Approx. 2.37 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

Trade active

Comment:

Lock in profits for half the position and move SL to BE.

Run the remaining position totally risk free.

Trade closed: target reached