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Hello traders good to be back with today. We are looking at the AUDUSD on the 60 minute chart and as you can see it looks like we missed the move as it started over 2 hours before the London open. So as usual I am asked now what to we do and the simple answer is to look for a way to get in this trade logically. So I am now watching this just over one hour into the London session and we get a green candle which allows me to place a Fibonacci tool on the chart and from there we can look at a possible entry zone. I am looking for a pullback from the current price to our entry zone which is between the 23.6 to the 76.8 levels. Any retrace back into that area allows us to look for a bearish candle formation and we can short this pair as it is bearish and has been for some time. This is all shown on the chart attached. We are looking to take profit at the 0.7600 price level as it is a psychological level and if you look left of the chart you will see previous support, great time to get out… Thanks and Talk Soon…. William

By FXOpen