GBP/AUD 2.12.2016
Time frame D1
Long-term and middle-term short trend, lower and lower bottoms. Short-term correction to levels of horizontal resistance and FiBo 23.6. Fake break out of the horizontal resistance and pull back below.
Price action signal: Pin bar at level of horizontal resistance and FiBo 23.6
Technical indicator:
CCI(50) - Turning south in zone of over bought - negative signal
SL: 1.7280
Alternative scenario: If the price goes over the horizontal resistance again and hold over it, the negative scenario will be dismissed.
Jr_trader_B_Arabadzhiev
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