Based on Daily chart we can see that AUDUSD shown down channel . If this trend keep continue , it a good opportunity to go short along this trend.
At 1 Hour chat we can see price making Higher low and Lower Low through time . And this indicate Seller are keep pushing price down and taking charge against buyer .
Based on 1 hour chart , the best area to go short i would say once price bounce from 0.70373 to 0.70979 . Once price did touch at 0.790979 then price drop a bit then go short .With this setup we have good r/r profile . SL somewhere above previous HL and TP above previous major key level .
Chart ; 1 HOUR |
Setup ; Price bounce form Lower Low to 0.70979 then go short .
Entry ; 0.70979 |
SL ; 0.71711 |
TP : 0.68467 |
Risk/Reward; 3.36
Disclaimer :
Please do not simply follow my trading idea without any proper trading plan and if do so please consider of losing money .
At 1 Hour chat we can see price making Higher low and Lower Low through time . And this indicate Seller are keep pushing price down and taking charge against buyer .
Based on 1 hour chart , the best area to go short i would say once price bounce from 0.70373 to 0.70979 . Once price did touch at 0.790979 then price drop a bit then go short .With this setup we have good r/r profile . SL somewhere above previous HL and TP above previous major key level .
Chart ; 1 HOUR |
Setup ; Price bounce form Lower Low to 0.70979 then go short .
Entry ; 0.70979 |
SL ; 0.71711 |
TP : 0.68467 |
Risk/Reward; 3.36
Disclaimer :
Please do not simply follow my trading idea without any proper trading plan and if do so please consider of losing money .
Trade closed: stop reached
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