AUDUSD 4H SHORT TRADE
Updated
WHY BEARISH BIAS TRADE
Price had two failed breakout attempts of the 800 sma
A 3rd failed breakout attempt of the 800 sma was a news related event
Macd is below zero and Red signal lines
Short Trades
News related spike bullish candle low is support level to breakout @ .71725
Price should close below 50 sma
1st Sell Entry @ .71725
2nd Sell Entry is bearish breakout of 4h trendline
2nd Entry is made from a 15m chart with a break-hook-go candle pattern
Sell Take Profit is the 100 sma so possible exit area is .7110
Watch Macd for direction
Price had two failed breakout attempts of the 800 sma
A 3rd failed breakout attempt of the 800 sma was a news related event
Macd is below zero and Red signal lines
Short Trades
News related spike bullish candle low is support level to breakout @ .71725
Price should close below 50 sma
1st Sell Entry @ .71725
2nd Sell Entry is bearish breakout of 4h trendline
2nd Entry is made from a 15m chart with a break-hook-go candle pattern
Sell Take Profit is the 100 sma so possible exit area is .7110
Watch Macd for direction
Note
100 sma was the TP. Price hit it in the .7125 area
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.