AUDUSD short based on Gann cycles. Weekly chart.

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Price was rejected at a 360 degree price area, a natural harmonic area and right on a pivot in time. If we were to zoom in on the 8 hour, we see that price is trading below and has broken below its first steep angle in the Gann Box (Square of 144).
Additionally, we have gone up straight for 7 weeks. This is a combination of two extremely bearish signals:
45 day cycle - 45 day cycles from swing lows/highs are often strong reversal areas and end blow off moves.
49 day cycle - 7 is one of the most important numbers in Gann theory. We have gone up 7 weeks straight which means we have an extremely high probability of a > 50% retracement .
Additionally, the full moon coming on the 31st is a Full Moon (which is important for markets at lows), but we have a full moon that is also a blue supermoon and a total lunar eclipse. Regardless of where price is at, trending markets violently change during this period.
Comment: Adding to shorts this morning, price finding strong rejection at this Gann angle (1x2) and is overbought by continuing beyond the inner 5th harmonic. Strong bias for continued down momentum.

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