Breaking Down Barriers: AUD/USD Short Play -
Trading Pair: AUD/USD
Trade Type: Short (Sell Limit)
Risk-Reward Ratio: 1:1.09
Trade Signal Details:
Entry Price: 0.65656
Stop Loss: 0.66270
Take Profit: 0.64985
Trade Strategy and Technical Analysis:
The trade strategy is based on a combination of technical factors, including daily resistance, RSI divergence, and a breakout of a rising wedge pattern.
The price is rejecting from a daily resistance zone, indicating a potential bearish reversal.
RSI divergence on both the 4-hour and 1-hour time frames adds confirmation to the bearish bias.
The breakout of a rising wedge pattern is a bearish signal.
The entry point at 0.65656 is in a confluence area, involving the retest of a trendline and recent resistance on the 1-hour time frame.
Trade Management:
Entry: Place a sell limit order at 0.65656 to enter the trade when the price reaches this level.
Stop Loss: Set a stop-loss at 0.66270 to limit potential losses.
Take Profit: Set the take profit at 0.64985 to capture profits.
Risk Management:
Ensure that your risk aligns with your overall risk tolerance, considering the 1:1.09 Risk-Reward Ratio.
Avoid over-leveraging and use an appropriate position size to manage risk effectively.
Monitoring and Adjustments:
Monitor the trade closely, and be ready to make adjustments if needed as the trade progresses.
Stay informed about any market news or events that could impact the AUD/USD pair.
Please be aware that trading involves risks, and it's crucial to conduct your own analysis and consider your individual risk tolerance before entering any trade.
Trade Type: Short (Sell Limit)
Risk-Reward Ratio: 1:1.09
Trade Signal Details:
Entry Price: 0.65656
Stop Loss: 0.66270
Take Profit: 0.64985
Trade Strategy and Technical Analysis:
The trade strategy is based on a combination of technical factors, including daily resistance, RSI divergence, and a breakout of a rising wedge pattern.
The price is rejecting from a daily resistance zone, indicating a potential bearish reversal.
RSI divergence on both the 4-hour and 1-hour time frames adds confirmation to the bearish bias.
The breakout of a rising wedge pattern is a bearish signal.
The entry point at 0.65656 is in a confluence area, involving the retest of a trendline and recent resistance on the 1-hour time frame.
Trade Management:
Entry: Place a sell limit order at 0.65656 to enter the trade when the price reaches this level.
Stop Loss: Set a stop-loss at 0.66270 to limit potential losses.
Take Profit: Set the take profit at 0.64985 to capture profits.
Risk Management:
Ensure that your risk aligns with your overall risk tolerance, considering the 1:1.09 Risk-Reward Ratio.
Avoid over-leveraging and use an appropriate position size to manage risk effectively.
Monitoring and Adjustments:
Monitor the trade closely, and be ready to make adjustments if needed as the trade progresses.
Stay informed about any market news or events that could impact the AUD/USD pair.
Please be aware that trading involves risks, and it's crucial to conduct your own analysis and consider your individual risk tolerance before entering any trade.
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.