AUD/USD 4H SHORT POSITION
SHORT POSITION:
Price has broken upwards channel and
Weekly Support of 0.71600
Now waiting for the retest back to 38.2 or
0.50 Fib retracement level to then enter the
short position
If price breaks past both these level I will
wait to see if the daily time frame will form
a H&S pattern and enter a position
HOWEVER:
If price breaks both Fib retacement levels
and goes back into the upwards TL then
it could continue its uptrend therefore
the H&S on the daily time frame could be
invalid
Price has broken upwards channel and
Weekly Support of 0.71600
Now waiting for the retest back to 38.2 or
0.50 Fib retracement level to then enter the
short position
If price breaks past both these level I will
wait to see if the daily time frame will form
a H&S pattern and enter a position
HOWEVER:
If price breaks both Fib retacement levels
and goes back into the upwards TL then
it could continue its uptrend therefore
the H&S on the daily time frame could be
invalid
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