Trade Bias: Bearish
The overall trend across all timeframes is clearly bearish. The daily chart shows a strong downtrend from previous highs of around 0.69, with price currently trading near 0.6203. The 4-hour and 1-hour charts confirm this bearish momentum, with the 1-hour chart showing a recent sharp decline without significant retracement.
Entry Price: 0.6230-0.6240
Looking for a short entry on a pullback to the 0.6230-0.6240 zone, which corresponds to recent support turned resistance levels visible on the 1-hour chart. This area may act as a rejection point within the overall bearish trend.
Stop Loss: 0.6275
Placing the stop loss above the recent swing high visible on the 1-hour chart provides protection while allowing enough room for normal market volatility.
Take Profit Levels:
Take Profit
Primary TP: 0.6160 (recent swing low visible on the 4-hour chart)
Extended TP: 0.6100 (psychological level and also aligns with previous support from the daily chart)
Risk-to-Reward Ratio:
Primary TP: 1:1.75 (35 pips risk, 60-70 pips reward)
Extended TP: 1:3.1 (35 pips risk, 110 pips reward)
Trade Rationale:
The daily chart shows a clear bearish trend with lower highs and lower lows
The current price (0.6203) is testing a potential support level, but the momentum is strongly bearish
No significant reversal patterns are present on any timeframe
Recent price action on the 1-hour chart shows aggressive selling with minimal pullbacks
AUD/USD has been on a significant decline since reaching highs around 0.69, with each rally being sold into
The suggested entry at 0.6230-0.6240 allows for a high-probability trade with a tight stop loss
The overall market structure suggests that sellers remain in control. This setup aims to capitalize on the established downtrend while managing risk appropriately with defined entry, stop-loss, and take-profit levels.
AUDUSD
The overall trend across all timeframes is clearly bearish. The daily chart shows a strong downtrend from previous highs of around 0.69, with price currently trading near 0.6203. The 4-hour and 1-hour charts confirm this bearish momentum, with the 1-hour chart showing a recent sharp decline without significant retracement.
Entry Price: 0.6230-0.6240
Looking for a short entry on a pullback to the 0.6230-0.6240 zone, which corresponds to recent support turned resistance levels visible on the 1-hour chart. This area may act as a rejection point within the overall bearish trend.
Stop Loss: 0.6275
Placing the stop loss above the recent swing high visible on the 1-hour chart provides protection while allowing enough room for normal market volatility.
Take Profit Levels:
Take Profit
Primary TP: 0.6160 (recent swing low visible on the 4-hour chart)
Extended TP: 0.6100 (psychological level and also aligns with previous support from the daily chart)
Risk-to-Reward Ratio:
Primary TP: 1:1.75 (35 pips risk, 60-70 pips reward)
Extended TP: 1:3.1 (35 pips risk, 110 pips reward)
Trade Rationale:
The daily chart shows a clear bearish trend with lower highs and lower lows
The current price (0.6203) is testing a potential support level, but the momentum is strongly bearish
No significant reversal patterns are present on any timeframe
Recent price action on the 1-hour chart shows aggressive selling with minimal pullbacks
AUD/USD has been on a significant decline since reaching highs around 0.69, with each rally being sold into
The suggested entry at 0.6230-0.6240 allows for a high-probability trade with a tight stop loss
The overall market structure suggests that sellers remain in control. This setup aims to capitalize on the established downtrend while managing risk appropriately with defined entry, stop-loss, and take-profit levels.
AUDUSD 
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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.