AUD/USD - SHORT

12 thg 4, 2015

Ok I know theres a lot of retail traders out there waiting to get in on this pair for the next move down these are my views on it at the moment ive got a scenario for a long idea also but i see it going short too at least 0.7200 for now...

Note: Blue areas of support/resistance are Monthly
Purple areas of support/resistance are Weekly

Monthly

• MA's Bearish
  

• March' candle finished as a shooting star off of support turned resistance
  

Weekly

• Evening star formation (last 3 weeks of March)
  

• MA's Bearish
  

• Gravestone doji off resistance
  

• Support broken & retesting
  

• Hanging man followed by spinning top showing indecision at the moment
  

A break and close below 0.76000 i believe will lead down to the 0.72500 region where we have that HUGE monthly trendline

Daily

• Rejected off of the 0.50 fib level drawn from the previous Lower High
  

• The -61 Fib extension from this fib also lines up with support for an added confluence