I've been looking for a short opportunity on the 12hr and 8hr charts since price action has been so bearish on aud/usd and there were a couple of triggers lining up that motivated me to enter a position. Main one being the daily chart above
- bearish trend
- price has pushed back up to support/resistance area
- 12hr chart showing indecision candle
Entered a little later than I would have liked, however I think I have pretty tight S/L and the postion has a 1:2 risk/reward ratio
Trade closed: stop reached
price moved up against my s/l.
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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.