Audnzd opportunity! As we can see the market is bearish, we have seen a breakout of the trendline and a retest,
the retest bounced of the fib level 50%, we only take trades based on 3 confirmations and the final confirmation would be the candle stick!
If it gives us a rejection candle stick (price action) then we will be taking this trade to the downside around 80pips with a small SL at 25pips ... risk to reward around 1:3.
Confirmation
1 - breakout and a testers
2 - fib level 50%
3 - candle stick rejection
(price action)
the retest bounced of the fib level 50%, we only take trades based on 3 confirmations and the final confirmation would be the candle stick!
If it gives us a rejection candle stick (price action) then we will be taking this trade to the downside around 80pips with a small SL at 25pips ... risk to reward around 1:3.
Confirmation
1 - breakout and a testers
2 - fib level 50%
3 - candle stick rejection
(price action)