AUD/USD! Short then long
Updated
Aud/Usd I will look to short this. It's extremely overbought with divergence on the RSI. Stock RSI just had a crossover. Looking for a retracement. It broke the horizontal resistance and now it will come back and retest it as the support. Also the previous angled support is now the resistance. Once it comes down to touch horizontal line it will come back up to the angled line. It's also and ABCD pattern and the wave up looks like it will be in similar size as the first wave up. I'm going to short then long. Try to catch them both ways. Overall bias is still bullish.
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Somewhat risky! we are going against the trend. I set a sell limit Entry: 7990
SL: 8070
TP: 7760
Almost 3:1 ratio
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Looking good so far. Not much movement.
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