AUDUSD SHORT UPDATE

AUDUSD carried its surge off the last post with an extra 150 pip gain. We now finally look like the bulls have run out of steam and are sitting nicely in between the 61.8 and 78.6 fib retracement levels. We are also starting to see a bearish head and shoulder pattern form on the 1h timeframe giving us confluences to take a short. I would personally like to see this pair come down further more, form a right shoulder then short from those highs with price action confirmation. We have been waiting for this short for over a week now and we may finally be getting that net impulse down. Hopefully we can surge through the 1hr ascending trendline then onto the 4hr and hopefully crush through that down to the longer term 38.20 fib level. Lets go traders!!