Live AUDUSD 5/31/19 12:00 am
- Daily candles showing bearish engulfing
- H4 structure downtrending with valid break of support
- H1 structure downtrending with valid break to downside, forming a LH
- valid m15 BOS to downside
Confluence Daily MA, H4 MA, random line resistance, 3 strike resistance
Risk: Lower because H4 is trending down
Trade closed manually
Closed after price broke 38.2 level after breaking to downside on m15, -10 pips. Valid and Good exit
Note
Exit US OpenNote
If I look closely on H1, it can be perceived as a valid break to upside. This would have affected my decision to take this short and not take the loss to find out.
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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.