Mid term short trade on AUDUSD
The major trend is clearly bearish. The pair has broken the upper channel on the weekly chart, retested it and successfully retraced from it. I see a good opportunity in shorting the pair if it pulled back.
Entry Level: 0.7650 which matches the 0.382 Fibo.
SL Level: 0.7750 which is just above 0.5 Fibo & above a well-respected resistance level.
TP Level: 0.7450 where to take profit or close 50% of the position (depending on how greedy we are). The TP2 point should be 0.7350.
Happy trading!
Entry Level: 0.7650 which matches the 0.382 Fibo.
SL Level: 0.7750 which is just above 0.5 Fibo & above a well-respected resistance level.
TP Level: 0.7450 where to take profit or close 50% of the position (depending on how greedy we are). The TP2 point should be 0.7350.
Happy trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.