dalipips

Be careful of Drop bears in Australia

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
There are multiple sign of a bearish movement that include :
- ABCD bearish pattern
- Closing Below a Resistance Level
- Hitting the Top of the channel
- RSI and Price Divergence

While I will have to see what the price open at on monday to make a proper entry I'm going to aim for a 2/1.
Entering around the middle of the channel which should line up with the 0.38 fibo retracement of the latest move and a smaller support level .

Will update Idea further
Comment: +1 bearish sign
The latest top candle was an upside down hammer showing the strength of sellers

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