DavoodWadi
Short

Yet Another ABCD Formation with Bearish Divergence & Double Top

FX:AUDUSD   Australian Dollar/U.S. Dollar
Hello everyone,

Another perfect ABCD formation has completed and I'm putting my order as soon as the market opens.

The latest top, with a huge wick on, before the market closed sat on the 1.618 extension of the A leg which also was exactly on the 61.8 retracement of the down move from late October.

As you can see from RSI , there is a big divergence between the higher highs in order to confirm the setup.

I have two orders:

A short term which has a tight stop right above the latest top
and
A long term which its stop sits on the latest Major High @ 0.89150

Choose your Profit Targets and Stop Losses yourselves, by calculating your risks and expected rewards.

Until next time,
Take care and have a profitable week ahead of you.

Davood Wadi.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out