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

Nov 13, 2016

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

Nov 13, 2016

Note

MONTHLY KEY AREA OF RESISTANCE SHOWN AS RED BOX

Nov 13, 2016

Note

WEEKLY HUGE HAMMER CANDLE BEARS LOOK TO BE TAKING CONTROL

Nov 21, 2016

Note

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