AUSUSD Short Trade

15 Sep 2020

Indicators:

• Stoch RSI overbought on weekly and Monthly charts
  
• Current price is @ 61.8 Fib level from the previous high on Monthly chart
  

Trade setup:

• Entry at current level @ 0.73200
  
• Stop loss @ 0.74200 = 1.17% loss
  
• Take profit @ 0.63 which is around 61.8 Fib retracement level from current prices = 13.90% gain
  
• Trailing stop of 150 pips monitoring required