matt_forex

Daily Confluence of Resistance

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
0
There is clearly a confluence and or multiple points of resistance above the the current close on the daily. I did take a look at RSI / Stocastics / CCI / MACD , and some are showing a very small amount of divergence. But given the "Double High, Low Close candle" I believe we are heading to parody, with a small bounce up then the AUDUSD will be pushed down to the 1.68 fib level.

Fib was taken from the most resent move up
SMA inputs are 20 , 50, 100, 200
Standard pivots were used.

My entry on the daily would be on a 50% of the low close candle
My stop would be just above the double high of the prior candle.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.