AUD/USD - Short Position
AUD/USD - Short Position
...
Daily - Price over the past few weeks have been moving down for a long period of time, we broke through a key level which was acting as a support we broke this and the re-tested it as a resistance, and price continues to go down, within the most recent weeks we have had a huge impulsive move to the upside and we have just reached this key level again.
...
4 Hour - I noticed a double top chart pattern at this resistance which is "bearish reversal pattern", Moving averages look like they are about to cross indicating a short position (sell position), and also the relative strength index (RSI), is near the overbought section and all these confluences give me an idea where price is going.
...
I will wait for some price action to occur before i get in on a short position (sell position).
...
if you have any questions/enquries, just drop me a message in the comments !!
Kind regards,
Kian P
...
Daily - Price over the past few weeks have been moving down for a long period of time, we broke through a key level which was acting as a support we broke this and the re-tested it as a resistance, and price continues to go down, within the most recent weeks we have had a huge impulsive move to the upside and we have just reached this key level again.
...
4 Hour - I noticed a double top chart pattern at this resistance which is "bearish reversal pattern", Moving averages look like they are about to cross indicating a short position (sell position), and also the relative strength index (RSI), is near the overbought section and all these confluences give me an idea where price is going.
...
I will wait for some price action to occur before i get in on a short position (sell position).
...
if you have any questions/enquries, just drop me a message in the comments !!
Kind regards,
Kian P
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.