AUDUSD Is this the end of the bulls? Bigger pictures says YES

AUDUSD Short Setup trade
-MANY REASONS STARTING WITH MONTHLY TIMEFRAME 0.7740 MASSIVE RESISTANCE
-0.7740 REJECTED MANY MANY TIMES HEAVY SELLING AREA
-DAILY TRENDLINE BROKEN
-TARGETS ARE FIB LEVELS
-RISK REWARD GREAT
-NO MORE THAN 2% RISK
-BROKE AND CLOSED BELOW WEEKLY LEVEL OF SUPPORT NOW RESISTANCE 0.7560
-50 EMA BROKEN BEARISH ON ALL TIMEFRAMES
-POTENTIAL HERE FOR BREAK THEN RETEST OF THE WEEKLY RESISTANCE AND TRENDLINE FOR FURTHER DOWNSIDE MOVEMENT
-BIGGER PICTURE BEARISH
-WEEKLY HAMMER CANDLE

Commentaire:

MONTHLY KEY AREA OF RESISTANCE SHOWN AS RED BOX

Commentaire:

WEEKLY HUGE HAMMER CANDLE BEARS LOOK TO BE TAKING CONTROL

Commentaire:

Notice the 50ema makes for great entries to add to shorts :)