AUDUSD has rejected the 78.6% on the 1hr timeframe. A LH has already been formed at this zone on the 4 hr timeframe. The entry reasons and confluences are:
· EMA broken and retested
· Bearish structure formed (LH and LL)
· Break of trendline
· Break and retest of previous low with engulfing bearish candle.
· EMA broken and retested
· Bearish structure formed (LH and LL)
· Break of trendline
· Break and retest of previous low with engulfing bearish candle.
Trade active
Trade 70% into TP. Moving SL to breakeven.Trade closed: target reached
Trade won at 3:1 RR. Position Closed.
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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.