Roker1

Double top on NZDUSD

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Hey guys,
today i want to share with you a simple pattern formation that occurs very often in the market that's very effective. It's the double top ; it happens whenever price action fails in making new highs in a bullish market. This could be the first sign of a reverse and draws traders to the market.
Here on NZDUSD we are in a long bullish trend and price completed a Cypher formation on daily timeframe .
Furthermore, the black line represents a daily structure level that seems to hold. The RSI shows us divergence (and it's always a good sign of reversal).
The last thing i want to see is an engulfing candle that came right now.
For all those reasons i'm selling this market at the first little pullback that gives me a 1:1 RR at the retest of the lows.

If you have any questions, feel free to comment below.
Otherwise, see you in the next chart!
Order cancelled: Price touched the first target level withouth pulling back. The trade is invalidated.

Se sei d'accordo, lascia un mi piace! Grazie
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Ultimo video: https://youtu.be/0rIFF-j4kdM

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My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw