reversal confirmation signal on nzd usd
Updated
hey guys,
I want to give you another example of a top down analysis approach in action.
first of all open a 4h chart,
what you can notice is that the market coils in a triangle and now it is approaching its resistance line.
+ we have a clear divergence on rsi
what I do next, I go to a lower timeframe and look for confirmation signals:
as you see we have a nice double top pattern + rsi overbought with divergence
I will be looking for a bearish violation of a support line to sell the market.
your targets will be based on structure.
good luck!
Note
Going downNote
almost hit the first targetNote
Hit target 1
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