Retest and failure at horizontal resistance will set up short

56
AUDUSD ran into a confluence of trend lines. By failing below the black horizontal resistance level, it turned the recent rallies (green zone) into a bull trap.

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.