EUR/AUD short

21 בנוב׳ 2017

On the daily timeframe, the market has reached a point of potential resistance that may make it retrace or reverse. Also, the pair has broken the 4 hour consolidation zone resulting in a newly formed downtrend. An entry point was picked when the market closed below the lower 4 hour consolidation zone. As a result, stops are placed above the previous high (yes, inside the consolidation zone). And profits are placed at previous structure.
Trade #3