This is a very high confluent trade with fundamentals to back it.
1. SSI Index showing high percent of retail traders short
2. Just completed D of a AB=CD pattern
3. At the .618 fib level of the last leg
4. Holding support at a prior resistance area.
5. Divergence of the 4 hour
6. Also, you can see the trendline is holding as well
7. AUD news coming in about 24 hours, which should send the AUD down.
1. SSI Index showing high percent of retail traders short
2. Just completed D of a AB=CD pattern
3. At the .618 fib level of the last leg
4. Holding support at a prior resistance area.
5. Divergence of the 4 hour
6. Also, you can see the trendline is holding as well
7. AUD news coming in about 24 hours, which should send the AUD down.
