EUR AUD TF H4 15.06.20 Short
EUR AUD H4
Sell 1.65171
SL 1.66448 (Loss 87 Dollar)
TP 1.884176 (profit 285 Dollar)
Reason to sell:
1. Strong down trend.
2. Potential double top
3. Hangging man & inverted hammer
4 Fibo 61.8 around support become resistance area
5. Stochastic close to overbought
6. There might be a bit trade issue between China and Australia, triggered by Canberra’s call for an international probe into the origins of the coronavirus. Beijing suspended some beef imports, slapped hefty tariffs on barley and is reportedly considering more actions on products from wine to fruits. However, China is the world biggest iron ore consumption and they still rely heavily on OZ Iron since no suitable substitute supplier at the moment.
Reason to doubt:
1. Double top not confirmed only potential
2. No MACD Divergence.
3. There is a second wave of Corona Virus which may slow down business with China.
It is much more safe to sell stop at 1.63636 with same SL, because at that level double top is confirmed.
Risk to reward 1:3.
Disclaimer on
Please use proper money management; may the Pips be with you :) .
Sell 1.65171
SL 1.66448 (Loss 87 Dollar)
TP 1.884176 (profit 285 Dollar)
Reason to sell:
1. Strong down trend.
2. Potential double top
3. Hangging man & inverted hammer
4 Fibo 61.8 around support become resistance area
5. Stochastic close to overbought
6. There might be a bit trade issue between China and Australia, triggered by Canberra’s call for an international probe into the origins of the coronavirus. Beijing suspended some beef imports, slapped hefty tariffs on barley and is reportedly considering more actions on products from wine to fruits. However, China is the world biggest iron ore consumption and they still rely heavily on OZ Iron since no suitable substitute supplier at the moment.
Reason to doubt:
1. Double top not confirmed only potential
2. No MACD Divergence.
3. There is a second wave of Corona Virus which may slow down business with China.
It is much more safe to sell stop at 1.63636 with same SL, because at that level double top is confirmed.
Risk to reward 1:3.
Disclaimer on
Please use proper money management; may the Pips be with you :) .
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