Description :
Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price being below the Ichimoku cloud, Looking for a sell entry at 0.68455 where below the overlap support and the recent swing low. We are looking to take profit at 0.66595, where the intermediate support is and 50% Fibonacci line. Stop loss will be placed at 0.69271, where the 23.6% Fibonacci retracement is.
Trading Recommendation
Entry: 0.68455
Reason for Entry: Ichimoku cloud + price momentum + previous swing low
Take Profit: 0.66595
Reason for Take Profit:
Intermediate support + 50% Fibonacci retracement
Stop Loss: 0.69271
Reason for Stop Loss:
Overlap support
