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nmike
Aug 28, 2012 7:54 PM

DIVERGENCE TRADING the AUD$ (weekly) 

Australian Dollar/U.S. DollarFXCM

Description

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.
Comments
timwest
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.
nmike
I do agree.I have a near term downside target of 1.02 FIB level
tradingview.com/e/K1xB4NaZ/
nmike
>>>hidden DIVERGENCE continues
nmike
>>>>last HIDDEN DIVERGENCE progressing.....
1010oo
some divergences are wrong !
1010oo
Disagreed.
angrybear168
Agreed.
angrybear168
Followed.
vvv
Followed.
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