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TradeAssociatesLLC
May 24, 2021 6:30 AM

Safe Shorts Short

Australian Dollar/U.S. DollarFXCM

Description

Multi Timeframe Analysis

Hint: **Look only for sell setups**

Recommendation:

The pair failed to pierce the strong weekly resistance and had been rejected to the downside.
On the daily chart , the 21 period RSI dropped below 50, hitting further losses. Expect price to fall the the 78.6% fibonacci levels from here on to correct the overextended bullish impulse on the weekly view.

Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.
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