theselfishtrader

AUDUSD - Range-based shorting opportunity

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
Price has risen to test a very strong area of resistance.
On the Daily chart a breakout looks imminent, but I favour a move to the short-side
There is great RR, esp if price tags the 0.77406 highs
I will wait for a bearish daily close at these prices before looking to short

There is not much indicator-based support to this idea, hence my cautious approach.
Trade active
Trade closed manually: stopped out be. New limit order set at highs.