reversal confirmation signal on nzd usd

hey guys,

I want to give you another example of a top down analysis approach in action.

first of all open a 4h chart,
what you can notice is that the market coils in a triangle and now it is approaching its resistance line.
+ we have a clear divergence on rsi

what I do next, I go to a lower timeframe and look for confirmation signals:
as you see we have a nice double top pattern + rsi overbought with divergence

I will be looking for a bearish violation of a support line to sell the market.

your targets will be based on structure.

good luck!

Yorum:

Going down

Yorum:

almost hit the first target

Yorum:

Hit target 1