StevenH

GBPAUD aggressive double top trade

Short
FX:GBPAUD   British Pound / Australian Dollar
Here on the 1hr chart we have a double top forming at a previous major structure level. We also have an overbought RSI and RSI divergence which in my experience normally sets up pretty accurate trading opportunities. The rules of my plan state that i can sell the double top before it breaks the neckline if the first test of the high is overbought on the RSI and if there is RSI divergence on the second test. Plus there is really good risk reward on this trade. So im short GBPAUD because of a few technical indications.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.