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theselfishtrader
Jun 11, 2018 9:16 PM

AUDUSD - Bearish Continuation Short

Australian Dollar/U.S. DollarFXCM

Description

Following a Double Top, price recently broke and closed below the last swing low.
Price has now retraced to test broken support and the 50% Fibonacci level, with bearish candles appearing.
ADX is holding steady above 20, and the RSI is not oversold.

A decent short opportunity has presented itself, with decent RR on offer (1.8R on first target, 3R on 2nd target).
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