This is a good opportunity to Short AUS200
There is a double top after a rally and had broken through the trend on H4.
At the higher time frame D1 and W1, the price is currently at the extreme on a Parallel Channel with the last candle indicating a bearing move.
I am taking 2 different levels of entries:
• First entry would be at Market Price
• Second is a retracement at 5688.
SL above 5725
T1 @ 5500
T2 @ 5380
There is a double top after a rally and had broken through the trend on H4.
At the higher time frame D1 and W1, the price is currently at the extreme on a Parallel Channel with the last candle indicating a bearing move.
I am taking 2 different levels of entries:
• First entry would be at Market Price
• Second is a retracement at 5688.
SL above 5725
T1 @ 5500
T2 @ 5380
Note
Trade closed: stop reached
Stop loss was too tight as I didn't expect a rally.I have re-entered @ 5750
Note
Note
Revising the direction of aus200. I think the rally willNote
Continue until 6000 approxTrade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.