EUR/AUD:
Date: 13 October, 2016
H4 Graph: Medium term Choppy, Short term short
The price tests the lower boundary of the range, in which has been trading at 1.45350. Then the price moved up, but it stops and creates these two bars with equal shadows, which might be a signal for short from here. This might happen if the bars close as they are at 12:00
Price Action: Two equal highs - Possible stignal for short
Alternative scenario: If the price moves higher than the two shadows, this will cancel the bearish view.
Technical Indicator:
DEM (14) - Still not in the oversold zone
Price for Entry short: After the bar closes at 12:00
SL: 1.46800
Jr. Trader - S. Fuchedzhiev
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