AUDUSD Short Trade

Randy BalcomTrades

There is a upcoming trade in the AUD USD pair, and here is the methodology:

The weekly chart is near a recent high and a high from May of 2015. The MACDBB is showing weakness.

On the daily chart we have 3 consecutive Dynamic Zones to the short side. And the MACDBB is rolling over.

HOWEVER, we do not have a reversal signal yet. Ideally a double top or a trendline trade to the south will form on the daily chart.

The trade would be an entry below .7974, stop above recent price action and target at the bottom of the 2nd zone. .77142. There is also a Dynamic level there as well.

Obviously, this is a large trade so watch your position size!

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