AUDUSD Short: Bearish Engulfing on 1Hr Timeframe
Trend: Downtrend according to DOW theory a series of LL and LH
Reason for Taking Short: A formation of Bearish Engulfing Candle at the LH of the trend right at the resistance level indicates a downfall in the price.
SL: At the privous LH of the trend.
TP1: At the nearest support of the trend.
TP2: Nill.
Reason for Taking Short: A formation of Bearish Engulfing Candle at the LH of the trend right at the resistance level indicates a downfall in the price.
SL: At the privous LH of the trend.
TP1: At the nearest support of the trend.
TP2: Nill.
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