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NDOBObanks

Short AUDUSD! New Lower Low Formation and Breakout of Key Level

Short
Australian Dollar / U.S. Dollar (SAXO:AUDUSD)  
NDOBObanks Updated   
SAXO:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis marketstructure trendtrading newlows hhllcount breakouttrading breakoutsignal audusdshort audusdforecast audusdsignal
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trendanalysis chartpattern waveanalysis marketstructure trendtrading newlows hhllcount breakouttrading breakoutsignal audusdshort audusdforecast audusdsignal
We expect further downside on this pair, signalled by the formation of the new lower low which is a sign of bearish market structure. We can also see the breakout and retest of a key level which further supports our directional basis.
Comment:
Price is approaching our TP. We will wait and see how price reacts when the USA traders enter the market.
Comment:
Price has reverted back to our entry to take out trades who moved stop losses to breakeven. The trade still has 3 hours until New York close before we close as per our trading plan rules.
Comment:
Price has just tested the top of the Asian range.
Trade closed manually:
Trade closed at around 0.5% loss. Onto the next setup.
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