Monday, 3 February 2014

AUD/USD Analysis

Having another go at this after being stopped out earlier. Another bearish pinbar candle on the daily timeframe. 4 hour chart shows a big bearish candle at the top of a trading range. previous resistance 8825 is now support, Trend is down, Moving averages diverging, pinbar candle created within the moving averages, weekly and monthly charts bearish, AUD bearish on other charts too. Order to go SHORT as per below: STOP: 8838 ENTRY: 8785 LIMIT: 8626 RISK/REWARD: 4/1

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