EUR/AUD hitting daily resistance.
On the daily chart, it is showing that the market is hitting the daily resistance and the RSI is showing that the market is close to being overbought.
On the 4 hr chart, it shows RSI being overbought and the 1 hr shows it being overbought again so that is confirmation that we will go short on this trade once an entry has been found.
Currently I placed a mini black resistance line below the daily resistance so when price breaks this, you can simply execute a sell stop order and ride out the market to your preference.
There are three profit targets which I have placed. Once it hits profit target 1, I am confident that it will hit the other 2. First profit target is a 4 R/R
Thank you guys and have a great weekend.
On the 4 hr chart, it shows RSI being overbought and the 1 hr shows it being overbought again so that is confirmation that we will go short on this trade once an entry has been found.
Currently I placed a mini black resistance line below the daily resistance so when price breaks this, you can simply execute a sell stop order and ride out the market to your preference.
There are three profit targets which I have placed. Once it hits profit target 1, I am confident that it will hit the other 2. First profit target is a 4 R/R
Thank you guys and have a great weekend.