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Jan 20, 2016 5:48 AM

AUD/USD H1 - short position in play Short

Australian Dollar/U.S. DollarFXCM

Description

Blue lines correspond to the Bearish ABCD pattern on H4 chart.

For H1 chart, a Bearish Gartley pattern is in play. An ABCD bullish pattern emerges and the price could go a little bit up and it could give another entry short position. But I hope the downtrend continues and the ABCD pattern projection gets invalided and get in line with the ABCD pattern (blue) on H4 chart.

I moved SL to the near resistance at 0.6923 just in case…
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