Week 8 Trade 3 AU Short

Reasons for entry:
- Possible 1hr H&S pattern
- Price has rejected 0.7150
- Price is stagnating and showing a loss of momentum
- Possible weak Eveningstar candlestick formation on the 1hr timeframe

Entry Timeframe:
- 15 min bearish engulfing
- @0.7140

Stop Loss:
@0.7155 (-15pips)

Take Profit:
- Target 1 @0.7050 (+90pips) = Risk/Reward : 1:6.2
- Target 2 @0.7000 (+140pips) = Risk/Reward : 1:9.6


Notes:
- Risky trade but good Risk/Reward

Trade closed: stop reached:

Took a small loss of -15pips, currently waiting for another short opportunity