Short
BTCAUD 1H - Rising Wedge Pattern
Analysis:
BTCAUD has printed bearish divergence on RSI and is now printing rising wedge pattern. If the price breaks below 40522 (previous HL), it will be a sign of trend reversal. In this case we can enter in a short trade. For this trade the stop loss will be at 42779 which is the previous higher high level.
------ Trade ------
Type: Short
Entry: 40522
Stop Loss: 42779
Position: 0.0646
TP1: 38265
TP2: 36008
BTCAUD has printed bearish divergence on RSI and is now printing rising wedge pattern. If the price breaks below 40522 (previous HL), it will be a sign of trend reversal. In this case we can enter in a short trade. For this trade the stop loss will be at 42779 which is the previous higher high level.
------ Trade ------
Type: Short
Entry: 40522
Stop Loss: 42779
Position: 0.0646
TP1: 38265
TP2: 36008
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.
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.