davidleekuanyong

EURAUD 4hr downtrend signal?

Short
FX:EURAUD   Euro / Australian Dollar
16 views
1
seems like im late to this short party. There is a strong price rejection at 4hr's 1.44885-1.44900 resistance zone . In addition, 4hr candles has been creating lower lows & highs. I believe EURAUD has a high chance of trending lower for the time being.

If prices breaks above 1.44885 resistance zone , it will invalidate my downtrend analysis.

I shorted at 1.44619. Cut loss 1.44885. Target 1.44090, which will give me a good 1:2 risk reward ratio.
Trade closed: stop reached