An inside candle has formed on the AUDUSD. Trend is down and price has been consolidating recently at an area of support and resistance. Inside candle could indicate buyers and sellers are undecided on price and could be a setup for a break of current consolidation and a continuation of the down trend. Stop entry placed below tail of mother candle. Risk reward 2.
Trade closed: stop reached
price hit stop, trade closed, sellers were not committed to pushing price action lower
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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.