After seeing a glance at my explanation of the Ichimoku Strategy and using AUDUSD in there, I noticed a perfect short setup and a possible reversal. I will allow the drawn up picture do most of the talking Right now we can see a reversal on the four hour chart and the currency pair is climbing back up to satisfy the Fib chart Retracement. This also coincides with the parallel lines drawn on the chart. As shown its been reversing up, tapping the top line then turning down to the bottom line. If it decides to reverse upon entering the circle, we should see a nice drop down to 0.72000 this number being the max and a possible two day hold.
However on a day chart, a possible reversal could occur as its showing a up trend pattern. While the week chart shows a chance of it heading into a down trend as well and a month chart showing a nice sign of a down turn and going into a short.
However on a day chart, a possible reversal could occur as its showing a up trend pattern. While the week chart shows a chance of it heading into a down trend as well and a month chart showing a nice sign of a down turn and going into a short.