Tradeciety

Retest and short continuation?

FX_IDC:USDWTI   U.S. DOLLAR / WTI CRUDE OIL
486 1 9
If price can successfully retest the Daily 20 SMA , which also falls into place with an important support/resistance area, we could see a new short reversal on the 4H.

The 4H shows a classic double top and a similar pattern to the AUDCAD             (linked below). Again, as long as price stays above the 20 SMA on the 4H and does not show a stronger rejection of the Daily 20 SMA , it's not a short setup.

Very nice example of how top down analysis works.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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unrelated to AUDCAD post
you should not be spamming AUDCAD thread with unrelated ideas
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