SubTh3ory
Short

AUDUSD UPDATE - Short position possibility at 0.6910 Resistance

FX:AUDUSD   Australian Dollar / U.S. Dollar
186 1 4
Price is retracing as expected towards the 0.6910 level. Given a good Pin Bar or Bearish Engulfing on the 4 hour or even the Daily, this would be a great level to go SHORT.
The Risk/Reward seems fitting enough to pull the trigger on this trade, granting it materializes the necessary parameters.
Comment: UPDATE: This trade setup went nicely. It almost reached the Stop Loss but ended up turning around and barely touching the Take Profit.
Price made a nice Pin Bar on the 4 Hour and is continuing it's decline. Very much as expected so far.
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