Retest and short continuation?

490 1
If price can successfully retest the Daily 20 SMA , which also falls into place with an important support/resistance area, we could see a new short reversal on the 4H.

The 4H shows a classic double top and a similar pattern to the AUDCAD (linked below). Again, as long as price stays above the 20 SMA on the 4H and does not show a stronger rejection of the Daily 20 SMA , it's not a short setup.

Very nice example of how top down analysis works.
I have been trading for 15 years!

> Trend Rider indicator:

> Free weekly trading webinar:

> Free blog:
unrelated to AUDCAD post
you should not be spamming AUDCAD thread with unrelated ideas
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out