AUDUSD Counter Trend Trading Opportunity at Previous Resistance

We can see that yesterday, this market pushed up to a major level of previous structure resistance on the higher time frame.

As we got to that level, the RSI went over bought.
we put in this nice double top formation showing bearish divergence on the RSI as well.

There is a nice opportunity at market to get involved with a good risk reward counter trend trade looking for targets at a 382 retracement and previous structure.

for those of you who are more conservative, you may be waiting for a 2618 trade set up.

Either way we have NFP coming out today so you want to be aware of that.

We will be looking at this more in the London live room this morning.

If you are interested in this style of trading or would like to see what it really takes to be independently, consistently profitable, then go over to tradeempowered.com/london-live-room/ and come into my live room for a week for FREE to watch me trade live.

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Kommentera:

Also a Butterfly completion, a Gartley completion on the higher time frames, lots of Fibonacci confluence in that zone, a couple of AB=CD formation completions and major structure.
Double top with RSI bearish divergence