Tradeciety
Short

AUDUSD - short setup building up?

FX:AUDUSD   Australian Dollar / U.S. Dollar
110 3 2
the Aussie moved into a demand zone and found resistance. Momentum shows a divergence on the RSI . Lower highs indicate a sentiment shift.

The missing link is the confirmed break of the lows. Downside potential - potential cover of previous bullish trend wave; clear path of least resistance.
Comment: Price still hasn't broken the support line. Not a reversal as of now!
Order cancelled: No follow-through and no momentum in the market. Taken off the watchlist for now...
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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So it still happened after all. Not the best example, but highlights the top down approach and how to trade divergences...
Reply
Still waiting for line break :)
Reply
Tradeciety NikitaSorokin
Yes. this setup does not look convincing right now.
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