AUDUSD Bearish Divergence

FX:AUDUSD   Australian Dollar / U.S. Dollar
RSI giving a signal that it's about to go down. Coupled with prices hitting the upper edge of the bollinger band , I expect prices to fall in the short term.
Trade closed: target reached
Comment: It's been a wonderful week so far 6/7 trades activated went perfectly
Oh. By the way, you are using MACD-RSI indicator do you use it in your analysis? thanks Alex!
When I'm looking to enter my trade, I use RSI and MACD to see if it corresponds to the position that I'm about to take. For example, if I'm shorting it, I'll see if prices are over bought or not. If I'm shorting it and RSI and MACD indicates its highly oversold, I'll hold back my position. Then there's also divergence in RSI, which I find the most useful. It's great especially in the higher timeframes. Divergence coupled with prices hitting the top/bottom of a bollinger band is a great signal to play off of.
den_ AlexxChan
Well noted.

Thanks Alex!
den_ AlexxChan
thank you Alex!
den_ AlexxChan
thank you Alex
Wow! Good job Alex. And thank you for posting your ideas, i am trying to study it because I like using RSI and bollinger bands. More power and good luck.
+1 Reply
Great insights
+1 Reply
AlexxChan piptamil
Thank you!
Thanks Alex...
+1 Reply
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