There are several indicators that one can employ during the course of analysis. One common indicator will be the Relative Strength Index.
What can you draw from this indicator?
Overbought and Oversold signals!
However, one can also use this indicator to spot divergences in the price and the relative strength!
Above are 3 examples of RSI...
for the past 3 weeks, the price is unable to close below 0.9313 area. today it traded below the recent lows, if we are able to close back up above 0.9249 today, am predicting we should go back up above 0.9313 area before the end of this week close.
Price appears to reach a historical strong support.
AUD might start making a turn around in a month or two?
Or will it plunge even lower?
Will continue to monitor the PRISM oscillators + CYBER ENSEMBLE
We play with Smartmoney concepts, that means that we look mostly on PA to determine what will happen in future.
As we all know, price is moved by BIG players: Banks, Institutional traders, HFT bots (we call them all of them SM).
They can't play as we do, cause of a HUGE lot sizes, so cause of that they need to SELL to BUY and BUY to SELL for...
We see on daily structure AUDSGD in down trend
Now we see AUDSGD make support and resistance and break the support.
We will wait for monday morning, how price action make a confirmation.
We see triple top pattern on 15M time frame, we can make it for confirmation in lower timeframe to take a confluent trade.
Now we will waiting for higher time frame to make last...