Trade Bias: Bearish
Looking at all three timeframes, we're in a bearish cycle on the 4H chart after a recent rejection from the 0.6340-0.6360 resistance zone. On the 1H chart, we can see a recent pullback that may be losing momentum, setting up a potential continuation of the downtrend.
Entry Price: 0.6287
Looking to enter short on the current pullback to the 0.6285-0.6290 zone, which aligns with previous support/resistance levels.
Stop Loss: 0.6320
Placing the stop loss above the recent swing high on the 1H chart, keeping the risk within your 35 pip maximum.
Take Profit Levels:
Primary TP: 0.6235 (Previous support zone from March 8-9)
Extended TP: 0.6190 (Major support from early March)
Risk-to-Reward Ratio:
Primary TP: 1:1.5 (33 pips risk for 52 pips reward)
Extended TP: 1:2.9 (33 pips risk for 97 pips reward)
Trade Rationale:
The AUD/USD shows bearish pressure across multiple timeframes:
On the 4H chart:
Price is in a bearish structure after rejection from the 0.6400 level
Current upward movement appears to be a countertrend pullback
The pair is showing resistance at the 0.6320-0.6340 zone
On the 1H chart:
Failed rally attempt with lower highs being formed
Price is showing resistance near 0.6310-0.6320
Overall structure suggests a potential continuation of the downtrend
On the 15m chart:
Recent bullish momentum appears to be waning
Price is struggling to break above recent resistance levels
Entry Triggers and Trade Management:
Wait for rejection candles at the 0.6285-0.6290 zone (bearish engulfing, shooting star, or doji)
Consider partial profit-taking at the primary target (0.6235)
Move stop loss to breakeven after price moves 25+ pips in favor
Consider trailing stop for the remainder of the position if targeting the extended TP
This bearish setup offers favorable risk-reward while aligning with the multi-timeframe technical structure. The current position of price near resistance levels provides a good entry opportunity with defined risk.
Looking at all three timeframes, we're in a bearish cycle on the 4H chart after a recent rejection from the 0.6340-0.6360 resistance zone. On the 1H chart, we can see a recent pullback that may be losing momentum, setting up a potential continuation of the downtrend.
Entry Price: 0.6287
Looking to enter short on the current pullback to the 0.6285-0.6290 zone, which aligns with previous support/resistance levels.
Stop Loss: 0.6320
Placing the stop loss above the recent swing high on the 1H chart, keeping the risk within your 35 pip maximum.
Take Profit Levels:
Primary TP: 0.6235 (Previous support zone from March 8-9)
Extended TP: 0.6190 (Major support from early March)
Risk-to-Reward Ratio:
Primary TP: 1:1.5 (33 pips risk for 52 pips reward)
Extended TP: 1:2.9 (33 pips risk for 97 pips reward)
Trade Rationale:
The AUD/USD shows bearish pressure across multiple timeframes:
On the 4H chart:
Price is in a bearish structure after rejection from the 0.6400 level
Current upward movement appears to be a countertrend pullback
The pair is showing resistance at the 0.6320-0.6340 zone
On the 1H chart:
Failed rally attempt with lower highs being formed
Price is showing resistance near 0.6310-0.6320
Overall structure suggests a potential continuation of the downtrend
On the 15m chart:
Recent bullish momentum appears to be waning
Price is struggling to break above recent resistance levels
Entry Triggers and Trade Management:
Wait for rejection candles at the 0.6285-0.6290 zone (bearish engulfing, shooting star, or doji)
Consider partial profit-taking at the primary target (0.6235)
Move stop loss to breakeven after price moves 25+ pips in favor
Consider trailing stop for the remainder of the position if targeting the extended TP
This bearish setup offers favorable risk-reward while aligning with the multi-timeframe technical structure. The current position of price near resistance levels provides a good entry opportunity with defined risk.
Trade chiuso: stop raggiunto
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.