AUD/USD produced a bearish reversal candle on the daily chart yesterday. The price was bullish to start its trading day today. It then had a rejection. Since then it has been bearish on the H1 chart. The sellers may go short on the pair below the last swing low to grab some green pips.
Chart 1 AUD/USD H1 Chart
The price had a rejection twice at the level of 0.67295. At the last rejection, after producing a bearish inside bar, the chart has produced consecutively three more candles that are bearish. Thus, if the price makes a breakout at the level of 0.67100, the sellers may trigger a short entry.
Entry: Sell below 0.67100
Stop Loss: Above 0.67295
Take Profit 1: 0.67038
Take Profit 2: 0.66965
Take Profit 3: 0.66875
Please Note: Its Friday market today. Since it's a trade setup based on the H1 chart, the sellers may consider closing the trade manually just before the London Session closes.
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