Currency Pair: AUD.USD Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Long
Live AUD.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity. Should my daily predicted direction be incorrect no trade opportunity will be generated.
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A 1hr B&R has now occurred, however for me it doesn't meet my entry rules due to the indicators not aligning.
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Price is now approaching 4hr 50EMA resistance, something to keep an eye on for short opportunities.
The RSI divergence appears 5 times in a row on the hourly timeframe. It's a bit weird. I usually see the price going up when bullish divergence appears. Why did that happen ?
UnknownUnicorn180388
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@ZgarniamHajs, The RSI is only 1 indicator, it's all about building multiple layers of confluence which provides the best trading opportunities.