GBPAUD - Short Opportunity

FX:GBPAUD   British Pound / Australian Dollar
* Won't be entering this trade due to R&R - SL would need to be 60 pips which is too high *

Top Down Approach:

Identified the weekly resistance area which is @ 1.83844 - Blue
Identified daily key level l @ 1.80806 - Price has respected this are many times in the past
The market is showing strong bearish movement after respecting the daily level
Weekly shows 4 candles each smaller than the last as it broke the daily level mentioned above
^ this is good confirmation that bearish momentun is beginning

This set up is purely to look back on, no trade will be taken.


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