sell the retest of a broken level

Mar 11, 2019

hey guys,

pound australian continues its movement inside a rising parallel channel


reaching 1.87 level we see a pullback,
I anticipate further bearish continuation and at least test of the channel support line around 1.835
with a potential bearish violation of a channel.

however, we need a good entry.
I suggest you wait and sell the retest of a broken support 1.853

your initial target will be based on the channel support line and structure looking left.

it is possible that then the market will continue lower,
so for the second target I would be focused on 1.80 level!

good luck!

Mar 11, 2019

Trade active

Mar 12, 2019

Trade closed: stop reached