Trade Idea: AUD/USD Short
AUD/USD is currently in a bearish trend, forming lower highs and lower lows. The price has recently retested a key resistance zone near 0.6230 and shown signs of rejection, indicating potential for further downside movement.
Entry: 0.6230
Stop Loss (SL): 0.6280
Take Profit (TP): 0.6020
As the trade progresses, price action should be monitored closely. Stop Loss adjustments can be made to break-even or to secure profits as the price approaches the TP level. This setup offers a favorable risk-to-reward ratio (RRR) of approximately 1:4, making it a sound trade from a risk management perspective. This trade setup is based on technical analysis, fundamental analysis, investor sentiment, and retail sentiment.
Entry: 0.6230
Stop Loss (SL): 0.6280
Take Profit (TP): 0.6020
As the trade progresses, price action should be monitored closely. Stop Loss adjustments can be made to break-even or to secure profits as the price approaches the TP level. This setup offers a favorable risk-to-reward ratio (RRR) of approximately 1:4, making it a sound trade from a risk management perspective. This trade setup is based on technical analysis, fundamental analysis, investor sentiment, and retail sentiment.
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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.
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.