FX:AUDUSD   Australian Dollar / U.S. Dollar
A nice shorting opportunty on the 4H timeframe where you see price is hitting a trendline as resistance. The upwards sloping red line is the meridian line of a daily pitchfork . if you are conservative wait for break to the downside.

I noticed theres a possible AB=CD pattern which would complete at the 50% fib level.

Should price fall and hit the red dotted meridian line of the 4H pitchfork taking partial profit might be a good idea as price could climb back up to the upper trendline.

As an addition to this, there might be forming a bullish butterfly on the hourly which if it is will have a very strong D at the meridian line pitchfork .

Order cancelled: Clearly no downward break of the red, daily meridian line !

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.