AUDUSD: Multiple Rejections, Potential Reversal
Atualizado
Price has recently rejected this level multiple times. As-well-as multiple rejections and long-wick candlesticks, we have a rounding top chart pattern. I anticipate price will continue to reject this level and eventually breakout of the uptrend line, suggesting a bearish bias.
**Rationale:**
~ Area of resistance
~ Multiple rejections
~ Long-wick candlesticks
~ Rounding top
~ Break of trendline
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**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
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#scalping
#intraday
#daytrading
**Rationale:**
~ Area of resistance
~ Multiple rejections
~ Long-wick candlesticks
~ Rounding top
~ Break of trendline
---
**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
---
#scalping
#intraday
#daytrading
Nota
Apologies for the image design. I accidentally uploaded an unsaved version of my idea.Nota
Price has now broken and retested the uptrend line. Look for entries short.Nota
Fulfilled:
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