Short AUDUSD set up.

18 dic 2017

The market still looks to be in a downtrend on the 4h and on the daily. After the market bounced off and rejected the resistance downtrend line the trade was starting to set up. This trend line was created off the Daily chart. The AUDUSD Closed under the top down trend line after a rejection of the 0.77 high. I was expecting the market to move back up to 0.7660 and then to fall down back into a down trend, this has happened. I was waiting for a bearish candle set up before taking the entry. We got a bearish pin candle so i entered on the close of said candle.