Today, I am attempting a sell position on AUDUSD, with a stop loss set at 0.7028 and a take profit at 0.7012. On the M15 timeframe, selling pressure on the AUDUSD pair has become increasingly apparent as the price has fallen from the vicinity of a support area. This decline is not merely a minor fluctuation; rather, it represents a shift in the structure of the price movement.
My sell position on AUDUSD hit its stop loss, resulting in a loss of $0.80. On the M15 timeframe, the pair moved downward briefly, but then immediately formed a bullish engulfing candle and rose, breaking through the MA200.