AUDUSD SHORT AT 20 AND 50SMA D1 50% FIB

BASIS FOR SHORTING THIS TRADE

PIN BAR FORMED AT
0.7700 RESISTANCE
D1 20SMA AND 50SMA
H4 200SMA
50% FIB
PRICE HAS FAILED TO CLOSE ABOVE 0.7700 3 TIMES ON THE D1
SLIGHT BEARISH DIVERGENCE ON THE H4

HOWEVER, THE ONLY OFF THING ABOUT THIS TRADE IS THAT THE RISK REWARD CURRENTLY IS NOT FAVOURABLE. THUS, I MAY KEEP MY HANDS OUT OF THIS TRADE.

H4 CHART

SUBSCRIBE LIKE COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
HAPPY PIPPING.