My signal was triggered with the bearish candle 2 hours ago as shown in my chart. It is a power candle. Please check my previous idea on GBP/AUD to understand this concept.
Price tested EMA100 but failed to go higher. It also broke the daily pivot.
Any pullback at higher prices will be an opportunity for me to sell more.
I am targeting the 100% fib level @ around 78.100 - 78.150 levels.
Trade at your own risk
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Beautiful h4 power candle
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As you can see, the H4 candle's range is 2.7x's the range of the last 10 candles and its close was near the lows suggesting sellers are in full control