AUDUSD it is time to go down.
This setup using 3 reason to plan this trade.
1.This descending channel align with current candle stick trend.
2.The rejection of price from resistance area (S/L Area). resulting in very strong bound leaving a trial as "Bearish Engulfing on weekly Chart", as well as "Dark Cloud Cover on daily chart" following a red candle stick after.
3.The rejection level confluent-ed by Fibonacci of 0.236 (AU 0.98914)
Thus, with the 3 indication above it is highly and likely be a reversal of AUDUSD uptrend, And it is start to move down.
Recommendation, for a SHORT as follow
Entry :: @ 0.94250 (This number come from a pinky line of 0.9430 with 5 pip lower)
SL :: @ 0.9525 (This number come from the highest swing-point of Dark Cloud Cover) with a few extra pip
TP :: @ 0.9230 (This number come from the last swing-low above a smiley face )
1.This descending channel align with current candle stick trend.
2.The rejection of price from resistance area (S/L Area). resulting in very strong bound leaving a trial as "Bearish Engulfing on weekly Chart", as well as "Dark Cloud Cover on daily chart" following a red candle stick after.
3.The rejection level confluent-ed by Fibonacci of 0.236 (AU 0.98914)
Thus, with the 3 indication above it is highly and likely be a reversal of AUDUSD uptrend, And it is start to move down.
Recommendation, for a SHORT as follow
Entry :: @ 0.94250 (This number come from a pinky line of 0.9430 with 5 pip lower)
SL :: @ 0.9525 (This number come from the highest swing-point of Dark Cloud Cover) with a few extra pip
TP :: @ 0.9230 (This number come from the last swing-low above a smiley face )
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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.
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.