informedtrades
Short

Short Setup Emerges on EURAUD

FX:EURAUD   Euro Fx/Australian Dollar
135 1 2
A few very favorable signs here for bears: price is pulling back to a resistance level , where it is forming a reversal candlestick pattern; this is also where the 200 EMA is, and where a 61.8% Fibonacci retracement level finds itself if one uses the most recent swing high and low points on the daily chart . That's my cue to enter! My entry order is at 4530, with my stop at 4680; my target profit is the recent swing low at 3808.

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200DMA is THE BEST LOW RISK ENTRY POINT
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