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Nairaland Forum / Nairaland / General / Audusd 4hours Distribution Re-short It Tp 6350 (180 Views)
Bullish Momentum On AUDUSD: 400 Pips Down, Potential For Profit / AUDUSD Will Try To Reverse To The Upside After Touching 78.6 FIB / AUDUSD After Retesting The Resistance Level Can Continue To Fall (2) (3) (4)
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Audusd 4hours Distribution Re-short It Tp 6350 by Ronald85roy: 7:42am On May 31, 2023 |
🔸Hello traders, let's review the 4 hour chart for AUDUSD today. Recently price was locked inside distribution trading range and subsequently it broke down below key s/r level near 6600 and hit 6500. Following the normal distribution pattern. 🔸Short-term expecting throwback to re-test mid of the distribution range and then expecting new wave of short-selling once we trigger 6700. Bears still maintain strategic control. 🔸Recommended strategy for AUDUSD bears: wait for the short-term bounce to complete near 6700 and then re-enter on SELL SIDE. TP1 bears +200 pips TP2 bears final +400 pips at 6350. Keep in mind this is a swing trade setup so will take more time to complete. good luck! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
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