STOP/ENTRY/TP-AUDUSD-SHORT (1.7%)
Weekly high test.
AUD hasn't had a good pull back against USD
COVID lockdown in Victoria and Border closures with QLD (Brisbane) and NSW ( Sydney). Huge hit to economy.
4HR/1HR - Im only looking to make small trades.
FIB retrace on the 1 hour. I would like that move slightly higher before the move lower. This giving a better value entry and affords that STOP more protection.
Ideally the Stop would be above the extreme highs, but I see the lower level as a point which will offer resistance assisting the move to TARGET.
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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.