EUR/AUD 08.11.2016 H4 chart.
Downtrend, correction to 38,2 Fibonacci and moving back below 23,6 Fibonacci.
Price below horizontal and diagonal resistances.
Signal from Japanese candle sticks: two pin bar at levels of resistance
Technical indicators:
SMA50 below SMA200 and price below them - negative signal
CCI(50) crosses below -100 - negative signal
SL 1,4450
Alternative scenario: If price goes back above the upper shadows of the pin bars this will cancel the negative formation.
Jr. Trader Nikolay Georgiev
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