All details on the chart. I have no targets only a wide stop loss. Will watch for price action. Building position around round numbers. Volume also Picked up on the second day of the Bullish engulfing pattern.
Bullish Divergence with the Stochastic is forming on the AUDUSD. Support level is 0.78300. Buy on a valid confirmation. I would like to see atleast one bullish candle closing above the high of the current candle to take long on this.
Cypher pattern is forming on USDJPY. The ratio for the second half is not perfect. But it was NFP day. Not much move. Pattern might complete later with perfect ratios.
For now, Its at a potential reversal zone (PRZ) and my target is 110.00
This was a classic case of Bearish MACD divergence. The price was forming higher highs and the MACD was forming lower Highs.
This could be a good reason to take a trade signal opposite of the trend. With out such indications trading reversals can be risky.