1) On the weekly chart a nice shooting star candle
2) Break of this upward structure (green line up), is likely a start of bearish move
3) pitchfork indicates we likely see a move towards the median line again
4) This pair is strongly correlated with other other AUD pairs (see related idea), also indicating downward movement is highly probable.
You can enter aggressively as shown on this chart, or a more conservative entry would be just below the consolidation area around 0.736.
Be aware of the Fibonacci levels for possible take profits.
2) Break of this upward structure (green line up), is likely a start of bearish move
3) pitchfork indicates we likely see a move towards the median line again
4) This pair is strongly correlated with other other AUD pairs (see related idea), also indicating downward movement is highly probable.
You can enter aggressively as shown on this chart, or a more conservative entry would be just below the consolidation area around 0.736.
Be aware of the Fibonacci levels for possible take profits.
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