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audusd 4hours distribution re-short it tp 6350


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audusd4hoursdistributionre-shortittp6350(1).thumb.png.1312781324fe81c9a2338189763f3a58.png

🔸Hello traders, let's review the 4 hour chart for AUDUSD today. Recently price was locked inside distribution trading range and subsequently it broke down below key s/r level near 6600 and hit 6500. Following the normal distribution pattern.

🔸Short-term expecting throwback to re-test mid of the distribution range and then expecting new wave of short-selling once we trigger 6700. Bears still maintain strategic control.

🔸Recommended strategy for AUDUSD bears: wait for the short-term bounce to complete near 6700 and then re-enter on SELL SIDE. TP1 bears +200 pips TP2 bears final +400 pips at 6350.

Keep in mind this is a swing trade setup so will take more time to complete. good luck!

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RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
 

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