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AUDUSD Support Trendline Breakout on 4h - Short
Australian Dollar / U.S. Dollar
Short
AUDUSD Support Trendline Breakout on 4h - Short
By MtxTrader
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Updated
Mar 2, 2017
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Feb 25, 2017
Price has been bouncing up off the support trendline ever since mid January.
The trendline is a valid 4h trendily because even though the wicks reach below it, price never closed below, the bulls reversed it.
Now, on the very last 4h candle of the last trading week, sellers pushed price below the trendline and the candle closed.
I take this as confirmation of a reversal into a bearish market.
Mar 2, 2017
Comment
Told y'all.
4h
AUDUSD
Bearish Patterns
breakout
priceaction
short
support
Trend Lines
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