Tradeciety
Short

AUDUSD - short setup building up?

FX:AUDUSD   Australian Dollar/U.S. Dollar
107 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...
So it still happened after all. Not the best example, but highlights the top down approach and how to trade divergences...
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Still waiting for line break :)
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Tradeciety PRO NikitaSorokin
Yes. this setup does not look convincing right now.
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