AUD/NZD:
Date: 6 February, 2017
H4 Graph: Medium term Choppy, Short term short
Price again rose, but stopped again for the third time below its previous high and forming a 3rd lower high. Price remains below diagonal resistance. The 50 ЕМА is below 200 ЕМА.
Price Action: 3 lower highs and Pin bar at level of diagonal resistance - possible signal for short.
DEM - In the overbought zone and turned down for short
Alternative scenario: If the price moves up above the previous high and above the diagonal resistance, this will cancel this scenario.
Price for Entry short around: 1.05000
SL: 1.05500
Trader - S. Fuchedzhiev
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