After breaking and retesting a significant support level a trading opportunity has presented itself for a short position following the overall trend of the pair. Risk reward ratio for the trade is 3, stop loss is set above the previous support level that now acts as a resistance.
after a major support level on the daily chart got broken and retested, a trend continuation trade idea presented it self. Stop is above the double top that was created on the 4h chart ant take profit is the latest low giving us a trade with approximately 3.6 Risk to Reward Ratio.
After seeing a break and retest of a major support level on the AUD/USD pair, a good risk to reward setup has presented it self. I believe there is a good likelihood that the next resistance level will be hit and my target is just a few pips below that. when it comes to my stop loss it is below the most recent low which in case it got broken the trade idea would...
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