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
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Price still hasn't broken the support line. Not a reversal as of now!
Order cancelled
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No follow-through and no momentum in the market. Taken off the watchlist for now...
Comments
Tradeciety
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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...
NikitaSorokin
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Still waiting for line break :)
Tradeciety
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Yes. this setup does not look convincing right now.