Potential Double top formation on the AUDCAD

19 Jul 2022

Price dropped down impulsively and is moving up in corrective manner.at the break of the channel up i expect a drop to the downside. It is showing signs of momentum loss at the resistance zone .The MACD is showing hidden divergence which is a good sign for a potential move to the downside .On the one hour time frame there's tweezer tops which adds confluence to the trade. I entered on the 15 minute with aggressive stops. With the last TP at the test of the lows.