jeysom

a drop before continuing north

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
I'm expecting aussie dolla to drop then rise. the daily on the right has the pair rising but if you look at the top left which is the hourly chart, the moving averages are looking to turn south. my bias tells me this will be an intra day short and next week it should rise back up. the 4hr chart on the bottom right, both ma's are separated but still pointing north. majority of the time if the ma's are that way than it usually indicates a drop is coming. a closure below 0.72729 on the hourly timeframe will trigger my entry point, with tp at 0.71506 and sl at 0.73361. safe trading guys and thank you for your time.

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