Waiting for a third touch and bearish confirmation(short)
Price is trending in a downtrend channel, correcting from a previous bearish impulse but recently price retraced and extended above last week high, but this week looks really volatile with high impact news for the AUD ,price could extend upwards but if a bearish confirmation aligns with a suitable confirmation candle and structure near price (1.92548) and possible retest opportunity after a double or triple top confirmation on the lower timeframes, stop loss to be set 380 pips away (1.92927), price could respect the channel and carry on with a downtrend.
Trade active
Waiting for possible double top as confirmation as a retest of the high.Note
Waiting for price to reach recent resistance, at 1.95015 rather than waiting for something in between support and resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.