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.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out