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barry_fxtrader

Potential AUDUSD Short

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
barry_fxtrader  
FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD audusdshort audusdforecast audusddaily support Support and Resistance Support and Resistance Harmonic Patterns Fibonacci Fibonacci Retracement Fibonacci Extension aussie aussiedollar short shortsetup
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audusd audusdshort audusdforecast audusddaily support supportandresistance supportandresistance harmonicpatterns fibonacci fibonacciretracement fibonacciextension aussie aussiedollar short shortsetup
So I know there are a lot of people jumping on the bandwagon for AUDUSD Shorts but as you can see that Aussie broke below the daily/4 hourly triangle and is retesting. This is also confluent with important fib levels.

As you can also see there is RSI Divergence on the 4 hour chart. This is used additional confluence.

I would have stops above 0.7250 and targets at around 0.6900

There is a nice risk reward profile for this trade setup.

Remember this is just my outlook on things!

Happy trading!
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