AUDUSD Trading Idea 8 Oct 2021

FX:AUDUSD   Australian Dollar / U.S. Dollar
I think the overall market is in the downtrend, one should look for the selling opportunity. In my personal opinion, Price gave a moderate rejection at the resistance starting to form a hanging man or bearish close or whatever may be the case at 4 hr time frame. If the candle closes around 0.72925 level then you can take a sell entry to put a stop loss at 0.74033. I am bearish with this trade. A possible profit target can be around 0.72310 or somewhere around.