XavierAlexander
Short

AUDUSD GREAT H4 SHORT POTENTIAL VERY TIGHT STOP GREAT CHANNEL £$

FX:AUDUSD   Australian Dollar / U.S. Dollar
Very clean detailed S/R x Fibonacci retrace analysis, 62.8% retracement occurring last 2 candles suggest bullish momentum is dying out!

This trade for me is a channel trade, I use Fibonacci and S/R to add confluence. Please zoom out and examine these areas


The diagonal channel is 3 - 4 months old and very valid and we have seen price already bounce off the top channel 4 times.

Very tight stop any violation of channel suggest full trend reversal.

Commodity channel index overbought currently heading south with break of diagonal bottom

Good luck and happy trading :)
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