Potential double bottom in AUDUSD

As we can see price has already passed that 0.886 level so price may fall but shouldn't fall to far below the 0.618 level and retrace to that 1.618 level. If price falls to far below 0.618 then I won't be entering. Despite the evidence of a double bottom there is bearish evidence because as you can see price has failed to break that supply zone I drew in red, this could indicate that price will drop but because of the Double bottom chart pattern it is highly probable that price breaks this supply zone. To be on the safe side you can put your buy stop just above that supply zone!

Trade geschlossen: Ziel wurde erreicht