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AidanMDang
Jul 17, 2019 10:48 AM

AUDUSD Double Top + Structure, Rising Wedge, RSI Divergence Short

AUD/USDOANDA

Description

AUDUSD is presenting us with an opportunity to short.

Price has formed a double top at a significant level of horizontal structure and channel resistance with clear RSI divergence, suggesting buyer exhaustion.

Price has also been moving in a rising wedge pattern.

If price continues to trend down, my first target will be the .382 and .618 Fib Retracement + Structure confluence level.

My second target will be the .5 and .786 Fib Retracement + Structure confluence level.

Please Like, Follow, and Comment for more analysis!

Goodluck!
Comments
VasilyTrader
Good analysis, Aidan!
AidanMDang
@VasilyPonomarev, Thank you so much bro :)
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