ETHAUD Potential Sell Setup – Triple Top Reversal in Play

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ETHAUD Potential Sell Setup – Triple Top Reversal in PlayETHAUDPEPPERSTONE:ETHAUDAmitrading📉 Overview from Weekly Timeframe: Price has been clearly rejected from a strong resistance zone aligned with the 50EMA. This rejection signals a potential bearish reversal, especially with recent wick rejections indicating seller strength. 📉 Daily Chart Explanation: The daily timeframe shows subtle signs of bearish pressure with rejection candles forming, but lacks a clean structure break. Momentum is not yet fully bearish, so traders need to remain cautious and look for lower timeframe confirmation. 📉 4H Chart Explanation: On the 4H chart, ETHAUD has broken below a key trendline and internal structure, confirming a potential shift in trend. Notably, a triple top pattern has formed, suggesting exhaustion from buyers and potential for downside movement. Price is also trading below the 50EMA, reinforcing bearish bias. 📌 Plan: Bias: Bearish Entry: On minor pullback below neckline of the triple top or EMA rejection Targets: TP1: Recent swing low TP2: Weekly support zone Invalidation: A 4H candle close back above the triple top zone and 50EMA