AUDUSD Short Setup trade
-MANY REASONS STARTING WITH MONTHLY TIMEFRAME 0.7740 MASSIVE RESISTANCE
-0.7740 REJECTED MANY MANY TIMES HEAVY SELLING AREA
-DAILY TRENDLINE BROKEN
-TARGETS ARE FIB LEVELS
-RISK REWARD GREAT
-NO MORE THAN 2% RISK
-BROKE AND CLOSED BELOW WEEKLY LEVEL OF SUPPORT NOW RESISTANCE 0.7560
-50 EMA BROKEN BEARISH ON ALL TIMEFRAMES
-POTENTIAL HERE FOR BREAK THEN RETEST OF THE WEEKLY RESISTANCE AND TRENDLINE FOR FURTHER DOWNSIDE MOVEMENT
-BIGGER PICTURE BEARISH
-WEEKLY HAMMER CANDLE
-MANY REASONS STARTING WITH MONTHLY TIMEFRAME 0.7740 MASSIVE RESISTANCE
-0.7740 REJECTED MANY MANY TIMES HEAVY SELLING AREA
-DAILY TRENDLINE BROKEN
-TARGETS ARE FIB LEVELS
-RISK REWARD GREAT
-NO MORE THAN 2% RISK
-BROKE AND CLOSED BELOW WEEKLY LEVEL OF SUPPORT NOW RESISTANCE 0.7560
-50 EMA BROKEN BEARISH ON ALL TIMEFRAMES
-POTENTIAL HERE FOR BREAK THEN RETEST OF THE WEEKLY RESISTANCE AND TRENDLINE FOR FURTHER DOWNSIDE MOVEMENT
-BIGGER PICTURE BEARISH
-WEEKLY HAMMER CANDLE
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MONTHLY KEY AREA OF RESISTANCE SHOWN AS RED BOX
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WEEKLY HUGE HAMMER CANDLE BEARS LOOK TO BE TAKING CONTROL
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Notice the 50ema makes for great entries to add to shorts :)
