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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