AUD/USD short trade | Oct 17, 2019

After 3 drive, at least 30% downward retracement is more likely to take place. Upcoming event of RBA's Lowe may cause many traders and fund managers to close buy positions to book profit, which may help downward retracement.

Sell stop right blow low of H1 candle marked with✅.

Target 30% of whole 3 drive, that is 0.6785 (± 3.0 pips).

Setup fails if any H1 candle closes above latest high.