Short position on AUDUSD - Support and resistance strategy
in the Weekly and monthly time frame we have a bearish trend.
The price has failed to reach the 50% retracement level, it has retraced twice to the 38.5% level.
The fractal indicator shows a bearish signal.
The EMA 50 cross shows a bullish signal.
Candlestick analysis: Bearish Harami
Bollinger bands show a bearish signal at the red circle on the chart.
There is an entry possibility however it is not the most ideal in terms of risk/reward ratio.
The price has failed to reach the 50% retracement level, it has retraced twice to the 38.5% level.
The fractal indicator shows a bearish signal.
The EMA 50 cross shows a bullish signal.
Candlestick analysis: Bearish Harami
Bollinger bands show a bearish signal at the red circle on the chart.
There is an entry possibility however it is not the most ideal in terms of risk/reward ratio.
Trade closed: target reached
Target Achieved :)
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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.