Aud Usd has never been this low (with the exception of the flash crash in December 2018) since 2009! We expect a long term buy on the weekly as you can see the weekly double bottom! We also expect a buy on the daily but the move up has still not been confirmed even though it is moving up right now.
Look at my previous analysis of Eur Usd! The higher high is still forming but we can expect some kind of retracement around the next hot zone which should be somewhere in the area of the black trend line that I put on the chart. So... Long a little bit more and then short! The best way to trade this is wait until price reaches the trend line and look for a...
The Higher High is forming and that giant daily green candle is evidence that buyers are clearly in control..
We can predict these pullback areas. Look at the Support boxes and see how they line up to each other! This is the pullback area and these areas are easier to see on a line chart. Some traders will say ignore the pullbacks and keep the long on the daily chart but then some people will short the pullback and even hedge the pullback! So Short to the next support...
As you can see from my previous analysis, price moved EXACTLY to the area that we predicted. Now price is on the rise again. I just wanted to give a quick update to prove that these areas do work when you know how to draw them correctly! Good Luck Everyone... 70 to 100 pips is what we are looking for now. You should already know where to take next profits!
The example strategy that babypips teaches traders is this! 1. Use 2 Sma's or Ema's 5 and 10 if sma... 2. RSI set to 9 3. Full Stochastics coming out of oversold area... YES THERE WILL BE PULLSBACKS... DO NOT EXIT UNTIL THE MOVING AVERAGES CROSS BACK OVER!!! Nzd/Usd Trend Reversal confirmation on the daily and I entered earlier with the same strategy on hour...
Remember the guy who analyzed eur/usd with a line chart and fan? It looked weird... We Bought....We Held... We Won Major Pips!!!
You see the double bottom trend reversal pattern. You see the High! You See The Low. Guess what is next? You guessed it! A HIGHER HIGH! BUY NOW!!!
Hour 4.. Just Crossed Under the 20 Ema, Below Resistance...Sell
Sell!!! If you can not sell a double top with rsi divergence, then pack your bags and go home!