hello Traders,
What I am seeing in Aud/Usd is that that we have a potential sell set up which in my opinion and my trading plan is a High Quality trade with MASSIVE Risk to Reward with Final Target 1:37%
Why is High Quality:
1) As we can see, the Two Previous highs are manipulated with a beautiful mitigation Candle stick and then we a sharp movement to the down...
Bullish flag breaks on though the top and I drop some knowledge right here:
Between 24-Jan-2014 and 23-Jan-2019, there have been 7 independent observations where the Average 5-Day RSI for S&P 500 Stocks crossed below the level of 70.
After 5 days, the S&P 500 returned an average of 0.65% (SD 0.78%), with the return being positive in 86% of the observations.
SPX...