Short Setup on AUDUSD | Key Level at $0.667 Tested

4 days ago

Today I want to share with you a Short position on the AUDUSD(AUDUSD) pair. In the previous idea on AUDUSD, I managed to find the first part of this uptrend rally.

AUDUSD is currently trading in the Resistance zone($0.6714-$0.6622) and Potential Reversal Zone(PRZ)[$0.6670-$0.6660] and near the Resistance lines.

Also, one of the reasons why I took this Short position on the AUDUSD pair is that the AUDUSD is approaching $0.667, which is an important number in previous rallies (in terms of trading volume) on the daily and weekly time frames.

I expect AUDUSD NOT to break the $0.667 level without a correction (at least), so a drop to $0.6614(First Target) is at least possible.

Second Target: $0.6580

Stop Loss(SL): $0.6723

Please respect each other's ideas and express them politely if you agree or disagree.

Australian Dollar/U.S.Dollar Analyze (AUDUSD), 4-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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4 days ago

Trade active

Trade was activated in Potential Reversal Zone(PRZ)[$0.6670-$0.6660]

yesterday

Trade closed: target reached

First target Done, AUDUSD is expected to decline to the second target($0.6580).