Here I have AUD/USD on the 1Hr Chart!
Our two current Lows @ ( .9498 ) on Wed. April 10th and ( .9456 ) on Fri. April 12th show an interesting underlying story when it comes to our indicators!
1) Looking to the RSI and comparing the Lows to Price on the chart, we can see that the RSI is showing a STRONG Divergence meaning Price could potentially be looking to move up now!
2) Our Momentum & Volatility indicators are showing Consolidation or Sideways movement meaning there is really no more trend left to be found.
Now this Divergence leads me to believe that if Price works back up to the CONFIRMATION of PATTERN @ .6545, we could see the VALIDATION of this PATTERN and look for trading opportunities!
CONFIRMATION of PATTERN @ .6545
INVALIDATION of PATTERN @ .6456
Our two current Lows @ ( .9498 ) on Wed. April 10th and ( .9456 ) on Fri. April 12th show an interesting underlying story when it comes to our indicators!
1) Looking to the RSI and comparing the Lows to Price on the chart, we can see that the RSI is showing a STRONG Divergence meaning Price could potentially be looking to move up now!
2) Our Momentum & Volatility indicators are showing Consolidation or Sideways movement meaning there is really no more trend left to be found.
Now this Divergence leads me to believe that if Price works back up to the CONFIRMATION of PATTERN @ .6545, we could see the VALIDATION of this PATTERN and look for trading opportunities!
CONFIRMATION of PATTERN @ .6545
INVALIDATION of PATTERN @ .6456
