nmike

DIVERGENCE TRADING the AUD$ (weekly)

FX:AUDUSD   Australian Dollar/U.S. Dollar
625 13 4
The STOCH RSI set at 6-6-14-14 works quite well at spotting DIVERGENCES.The AUD$ is long term bullish , it'sabove the 100 and 20MA.But the last 3 candles are BEARISH and we have HIDDEN DIVERGENCE.Take profit.
some divergences are wrong !
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>>>>last HIDDEN DIVERGENCE progressing.....
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>>>hidden DIVERGENCE continues
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I think this is a great trade setup for the short side. All the talk about QE and China continuing to slow is a recipe for the AUD to take a big, long slide down. It's a low-risk trade, at least, to go short here and use a stop over the highs. Downside appears to be 0.96, then cascading targets down to 0.81.
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I do agree.I have a near term downside target of 1.02 FIB level
https://www.tradingview.com/e/K1xB4NaZ/
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http://www.yourtradingcoach.com/products/ebooks/candlestick-quick-ref-v3.pdf
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