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AUD/USD Short Setup forming on 12hr
Australian Dollar / U.S. Dollar
Short
AUD/USD Short Setup forming on 12hr
By psyd3fx
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May 23, 2017
1
May 23, 2017
Analysis
Price is currently trending up after a nice bounce off of support at ~0.73431 levels
Price currently finds itself in a previous support/resistance area ~0.74847 levels
Recent data shows six previous times where price found support/resistance in this area
Trade Triggers
More indication that price is finding resistance at this level
Indecision candle on the daily close also the 12hr close
Stop-loss will be just above daily high wick
Primary target will be before previous recent support levels ~0.74048 with a minimum risk/reward ratio: 2.06
Secondary target will before the support area ~0.7343431 levels
AUDUSD
reversal
shortsetup
Support and Resistance
waitingforconfirm
psyd3fx
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