GBP/AUD:SHORT From Double TOP Resistance Trendline DIV - SELL

12 Sep 2022

GBP/AUD: The price in a Strong Downtrend, in the last session got a Local Double Top exactly in the Resistance area of the previous swing Low and in correspondence of the dynamic Trendline also worked like Dynamic Resistance. The Price after the double top had a Strong Bearish impulse as confirmation of the goodness of the pattern, a Retest of the Neckline of this pattern as followed and the price is close to having another Push Down in the direction of the primary trend. As we can see, a Double top with a retest is very visible on the RSI indicator, this is an advanced way to look and read this indicator to get more confirmations. The stochastic presents a Divergence in the overbought scenario, a great signal for SHORT direction. Not last the Ichimoku clouds are Bearish. All these clues follow our idea about a Short setup.

12 Sep 2022

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