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TheCaffeinatedTrader

Double Top Break with Retest CONFIRMED!

Short
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
TheCaffeinatedTrader  
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators Forex AUDUSD Double Top confirmation
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trendanalysis chartpattern indicator forex audusd doubletop confirmation
- Double top on H1 broke the valley low
- H4 "double top" was strong rejection candles with long top wicks
- hit previous structure level on the 4 hour chart
- Moved back up to retest the valley support, now acting as resistance
- Doji candle printed on both H1 and H4 at resistance
- High volume bars on the most recent move down off our highs
- RSI was heavily overbought and has since lost momentum
- H1 RSI rolling over below 50% trend
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