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Trade 2 (+16pips)

Trade 2

5 min chart (signal)

Price bounced off EMA144. EMA144 can also be a moving S/R line. Shorted for TP of 16 pips (previous low as per blue line) and SL of 12 pips (swing high as per orange line).

Trendline is down, price still following trendline. MACD declining and Stochastics entering oversold region.

30 min chart (trend bias)

Notice EMA 5/13 crossing the long EMAs 62/144 and the critical SMA200. Does this signal a trend reversal/ short term retracement for the AUDUSD???

Trade review:

Overall R:R is more than 1. This trade is definitely more technically aligned in terms of 5 and 30 min charts. Way to go!

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