This looks good for a nice buy given rules play out.
Currently MACD and signal have crossed right beneath the MACD 0 line on 4 hr chart. I am looking for the MACD and signal lines to cross up through 0 line to trigger upward MACD and signal line correction on the 2,3, and 4 hour charts. On the 4 hr chart RSI is resting in pullback area on a long term trend (AUDUSD has been long since about May). My forecast is The MACD and signal lines will cross the 0 lines on the 1 hr chart without interruption to continue the long term trend.
Currently MACD and signal have crossed right beneath the MACD 0 line on 4 hr chart. I am looking for the MACD and signal lines to cross up through 0 line to trigger upward MACD and signal line correction on the 2,3, and 4 hour charts. On the 4 hr chart RSI is resting in pullback area on a long term trend (AUDUSD has been long since about May). My forecast is The MACD and signal lines will cross the 0 lines on the 1 hr chart without interruption to continue the long term trend.
Order cancelled:
Closing this trade because indicators corrected against my forecast and DXY is strong right now.
MACD and signal made a cross on this 1 hour close out and MACD and signal on 2 hr have crossed MACD 0 line with 3 and 4 hour heading in same direction. Clear short in play.
MACD and signal made a cross on this 1 hour close out and MACD and signal on 2 hr have crossed MACD 0 line with 3 and 4 hour heading in same direction. Clear short in play.
If 1 hour MACD ends up crossing down on signal to trigger MACD lines on 2 hr to cross MACD 0 line Ill most likely suggest to close out and wait for the retest.