AUSSIE SHORT TIME BEARISH
I think that the Aussie is short time bearish because:
•Formation of double top
•RSI is overbought in both 1H and 4H TF’s
•Price hit level 0 of Fibonacci retracement and might come back to level 0.382
•price haven’t retested its 1H 50 MA since it break.
Entrance: break of neckline
SL: 1 ATR from neckline
TP: price projection method: distance between the highest swing and neckline.
•Formation of double top
•RSI is overbought in both 1H and 4H TF’s
•Price hit level 0 of Fibonacci retracement and might come back to level 0.382
•price haven’t retested its 1H 50 MA since it break.
Entrance: break of neckline
SL: 1 ATR from neckline
TP: price projection method: distance between the highest swing and neckline.
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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.