Key Level Structure Trade

FX:EURAUD   Euro / Australian Dollar
This pair atm is consolidating; You can have a look at 4 Hour time frame.

On the 1HR TF, market is currently consolidating at the key supply area, 1.6040. My second point here is the conventional head & shoulder pattern giving us more confluence to short this market.

Entry: 1.6000
Stop Loss: 1.6047
1st TP: 1.5920
2nd TP: 1.5830

Mar 06
Trade closed: stop reached: Market did went down a little after the entry but failed to hit the 1st TP predicted. Nonetheless, if your initial target was set to a risk reward of 1:1, it would had been a winning trade.
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