AUDUSD Short Setup perhaps? - 3rd March, 2014
Outlook Trade opportunity
H1 Candle price action performed rejection pin bar during asian session
- Price action opened lower today, breaking last weeks resistance, -
- Currently filling the gap and which also is the broken support / now becomes resistance
Contradicting factors
- Stochastics has bullish divergence - however will always have these during a break of support and continuation
- Gold is appearing to wanting to break higher (positive correlation to the Aussie)
Trade recommendation
For a small risk, we can go for a short trade, with stops above pin bar
For a small risk, we can go for a short trade, with stops above pin bar
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