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ArmoredBull

AUD/USD Rising Wedge and Long-Term Channel Resistance

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
ArmoredBull Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Forex AUDUSD usdaud aud USD short Rising Wedge Parallel Channel macdcross 200daymovingaverage
4
2
forex audusd usdaud aud usd short risingwedge parallelchannel macdcross 200daymovingaverage
AUDUSD is incredibly close to the long-term resistance and profit potential is becoming limited for bulls. I'm looking to short soon once I can see a clear breakout from the rising wedge. Also, my price target will be .745 to .748, for I believe this will retest the 200 day moving average.
Key Points
- Rising Wedge (Bearish)
- Double Top (Bearish)
- Long-Term Channel Resistance (Bearish)
- MACD Crossover (Bearish)
- RSI (Neutral)
Trade active
Comment:
Took profits at .746 and looking to re-short for the next wave down.
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