USD/AUD Double Top Formation
The 4H chart is showing the formation of a possible double top.
If the price continues to fall down to the neckline, we could see a nice short trade set up here.
The MACD and the RVI indicate that price may temporarily reverse as bears come into power.
Confirmation? I will wait for the price to break the neckline before entering a short trade.
If the price continues to fall down to the neckline, we could see a nice short trade set up here.
The MACD and the RVI indicate that price may temporarily reverse as bears come into power.
Confirmation? I will wait for the price to break the neckline before entering a short trade.
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.