Mid term short trade on AUDUSD
The major trend is clearly bearish. The pair has broken the upper channel on the weekly chart, retested it and successfully retraced from it. I see a good opportunity in shorting the pair if it pulled back.
Entry Level: 0.7650 which matches the 0.382 Fibo.
SL Level: 0.7750 which is just above 0.5 Fibo & above a well-respected resistance level.
TP Level: 0.7450 where to take profit or close 50% of the position (depending on how greedy we are). The TP2 point should be 0.7350.
Happy trading!
Entry Level: 0.7650 which matches the 0.382 Fibo.
SL Level: 0.7750 which is just above 0.5 Fibo & above a well-respected resistance level.
TP Level: 0.7450 where to take profit or close 50% of the position (depending on how greedy we are). The TP2 point should be 0.7350.
Happy trading!
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