AUDUSD Short
Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 7%
Reasons for Entry: Pair broke down through a major support area on the daily chart, and the retest of this support lined up with a 50% fib level.
Reasons for SL placement: Right at the 78.6% fib level and above the broken support and above the 50 EMA.
Reasons for TP placement: At the -0.27 fib extension level.
Execution Timeframe: 4H
Risk: 3%
Reward: 7%
Reasons for Entry: Pair broke down through a major support area on the daily chart, and the retest of this support lined up with a 50% fib level.
Reasons for SL placement: Right at the 78.6% fib level and above the broken support and above the 50 EMA.
Reasons for TP placement: At the -0.27 fib extension level.
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.