double top - buy the breakout of local resistance

hey traders,

on audusd we see a beautiful example of a double bottom pattern.
In a decent bearish trend, we see a constant formation of lower lows.
when the market reverses, very often it gives us clear cues.
one of them is a double bottom pattern, which indicates that the market
failed to violate the previous level of structure and buying pressure doesn't let bears break below.
also, rsi divergence gives us an indication that bear momentums are falling.

I will be looking for buying opportunities as the market violates a local structure resistance and closes above it.

good luck!

Yorum:

standing on structure

Yorum:

going up