MrVolcano
Short

AUDUSD - Possible short after false break?

FX:AUDUSD   Australian Dollar/U.S. Dollar
139 0 2
The break above resistance was only temporary. After bearish AUD news announcements this morning, price immediately headed lower forming an evening star on the 4h chart and creating what looks like a false break.

There is a chance price could go higher from here. There is still some indecision, but overall it looks bearish to me, with stoch looking overbought.

I will be looking to enter on a solid break of the trendline . Be careful because there's a lot of indecision between 0.7660 - 0.7690.
Trade closed manually: Price started to retrace after hitting the fib 50% level. Instead of risking that price may not come back down again, I took profits at 0.7640 (2.5R) and watched for another short entry.
Trade active: Got another opportunity to go short. A 4hr pinbar rejecting the Fib 38% level. Re-entered on 50% retrace of the pinbar.

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