Hope y'all doing well, here I have a nice opportunity for a short on AUDUSD
. So, the trade is based on the descending trendlines
who crossover on our entry point, we can crealy see that we are in a descending channel
, so we are only selling a retracement on the downtrend, it's safer that way. To add more confirmation, we have a 61.8% fibs retracement of the last downtrend on our entry point and 2X 127.2% retracement of last uptrend and an older uptrend. We are trading too the retest of an important trendline
, we are selling below an nice supply&demand zone and on a daily resistence.
Go check out my profile for more!
SL: 0.7924 (14pips)
TP1: 0.7897 (breakeven)