tommyb35
Short

Huge potential short AudUsd

FX:AUDUSD   Australian Dollar/U.S. Dollar
42 0 3
Aud/Usd             has run up into a shelf of resistance .77000 even handle. Inside the red box on the chart is a .618 & .786 fib retracement levels. Also the green lines on the chart and stochastic indicator show classic bearish divergence where the blue lines show a bear setup. A bear setup is the potential for a top. Being that we have the fib confluence, even handled level with major structure to the left, I will be looking for potential shorting opportunities on the 1hr and 4hr timeframes this week. Even if all we do is retest the lows at the previous outside return around the .75000 level, that's still 200 pips of potential opportunity.

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