Hi Traders,
I am looking at AUD/USD on the 4-hour time frame today.
I am noticing a potential Double Bottom pattern begin to form.
We have two bottoms already and we have our neckline.
We also have divergence in the MACD across the two bottoms.
I'm waiting for the price to come up and impulsively breakthrough that neckline.
If we see a break and close above that neckline zone, I will be waiting for a minor retrace back into the neckline zone, upon which my entry will be triggered.
Let's be patient and see if this pattern forms fully.
Trade safe out there guys!
The Vortex Trader
I am looking at AUD/USD on the 4-hour time frame today.
I am noticing a potential Double Bottom pattern begin to form.
We have two bottoms already and we have our neckline.
We also have divergence in the MACD across the two bottoms.
I'm waiting for the price to come up and impulsively breakthrough that neckline.
If we see a break and close above that neckline zone, I will be waiting for a minor retrace back into the neckline zone, upon which my entry will be triggered.
Let's be patient and see if this pattern forms fully.
Trade safe out there guys!
The Vortex Trader