EUR/AUD Short Trade

Mar 28, 2022

This pair is moving in a bearish trend for many days while respecting the trendline. There are a few pullbacks in the chart but it has been rejected each time from the trendline, this is a strong sign of a trend run. The pair broke a support level of 1.4802 and did a retest to the level before it continues the move.
We wait for the momentum to pick after the retest and then our trade will be executed.

Mar 28, 2022

Note

The pair did exactly what we expected and bearish momentum picked up, with a few pullbacks in the price our trade again reached TP of 2R
Our TP was 1.4536 and it made a low of 1.45355 which also shows the importance of picking the right price points for TP and SL.