AUDUSD is now Bearish for the following reasons:
1. Broke a strong rising trendline. The trendline was strong as it had multiple (more than 3) and clear touches
2. Completed retest of the trendline.
3. Complete Bearish Engulfing Bar on Daily timeframe.
4. Stop Losses (SL) and Take Profits (TPs) are clearly. The general rule here is to place SLs/TPs at clear areas of high and lows / supports and resistance.
All the best.
1. Broke a strong rising trendline. The trendline was strong as it had multiple (more than 3) and clear touches
2. Completed retest of the trendline.
3. Complete Bearish Engulfing Bar on Daily timeframe.
4. Stop Losses (SL) and Take Profits (TPs) are clearly. The general rule here is to place SLs/TPs at clear areas of high and lows / supports and resistance.
All the best.