khansalarehsan

A good shorting opportunity - Pin bar on 4 hours time frame

FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Reasons:
1) It is at %23.6 major Fibonacci level.
2) 2 Major pitchfork parallels acting as strong resistance for the last 3 years.
3) Using cyclic lines pattern the previous key lines were two key pivotal points
4) It is overbought

The bearish move would be validated by another significant red candle following this pin bar .
On the daily time frame, a close above 0.76559 is required to confirm the bullish move.
The overall longterm bias is bullish .

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