AUDUSD GREAT H4 SHORT POTENTIAL VERY TIGHT STOP GREAT CHANNEL £$
Very clean detailed S/R x Fibonacci retrace analysis, 62.8% retracement occurring last 2 candles suggest bullish momentum is dying out!
This trade for me is a channel trade, I use Fibonacci and S/R to add confluence. Please zoom out and examine these areas
The diagonal channel is 3 - 4 months old and very valid and we have seen price already bounce off the top channel 4 times.
Very tight stop any violation of channel suggest full trend reversal.
Commodity channel index overbought currently heading south with break of diagonal bottom
Good luck and happy trading :)
This trade for me is a channel trade, I use Fibonacci and S/R to add confluence. Please zoom out and examine these areas
The diagonal channel is 3 - 4 months old and very valid and we have seen price already bounce off the top channel 4 times.
Very tight stop any violation of channel suggest full trend reversal.
Commodity channel index overbought currently heading south with break of diagonal bottom
Good luck and happy trading :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.