amanpaulbhogal

AUD/USD short on 1 hour timeframe

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
Case for entry short:
  • downtrend on 1 hour chart with successive cycles producing clean LLs and LHs;
  • declining trend line tested for the third time;
  • retest of 20 ema giving a high test/shooting star/bearish pin bar reversal close; and
  • retest of resistance ( at previous low) at ~ 0.7620 which coincides with Fibonacci cluster (0.382 and 0.618) from two swing points.

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