Overview
AUDUSD
was in a bearish trend, however, bullish divergence was formed on RSI and price is currently forming a higher high for the first time!
Analysis & Plan
This trade is risky because price is just forming the first higher high at our entry point. However, we are expecting price to replicate the same bullish reversal after forming bullish divergence (marked on chart) earlier. Currently price is bouncing from a previous support zone as well. Longing break of lower high and expecting price to start a bullish trend!
AUDUSD
was in a bearish trend, however, bullish divergence was formed on RSI and price is currently forming a higher high for the first time! Analysis & Plan
This trade is risky because price is just forming the first higher high at our entry point. However, we are expecting price to replicate the same bullish reversal after forming bullish divergence (marked on chart) earlier. Currently price is bouncing from a previous support zone as well. Longing break of lower high and expecting price to start a bullish trend!