As we saw that monthly resistance, 0.77500, is simply to strong for our Aussy, we are sellyng it..
Forming nice double top, and big red candle we are up for selling this. My entry will be at 38.2% FIbb retracement, 0.76200, with first target of weekly support, 0.75100 and second 0.71550.
one position is on 50% FIbbs, 0.75400 so I would have at least 1:1 R/R ratio..
On monthly tf I see third lower low, and its currently resting on my monthly support 1.04530.
On weekly tf I noticed a retracement on 38.2 Fibb, which is also a weekly resistance 1.08200.
When we look on daily we can expect no more than 1.05580 retracement, before falling again.
If it go up to our 4h resistance, in can see only adding another short position..
As we can see on daily chart GJ is forming a triangle, bearish as I see it.
in less than 50 min we have GBP news which I expect to be negative.
I put my stops above last structure hihg, and as you can see tp1 is on first structure low, but I expect it to go lower, to the next structure low (you can see it on Daily chart.