US Stock FED EX: Monthly and weekly uptrend, new demand zones.
1st December 2016
US Stock TRIP ADVISOR: Monthly trending down with supply higher at 59.01
2nd December 2016

Forex pair AUDUSD created a new level of weekly supply high in the monthly range which could be nice for shorts if price retraces. There are a lot of wicks up there and trading in the area so it is probably best to wait for confirmation to be on the safe side. How do you wait for confirmation? If you hit weekly supply either wait for new daily supply zones or new H4 supply zones to be created with a decent departure and basing. Price fell short of hitting daily CP (continuation pattern) and now looks to be dropping and potentially creating a new level of supply if it removes opposing demand. Short bias on this forex pair!

1_audusd_forex_shorts_supply

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