Hello traders, in the past week or two ive been posting trading with bullish/bearish divergences and have got a lot of love from all you guys for that. Really appreciate it. Here i present another chance to back some nice pips
Here on this pair we can see a good solid trendline which seems to be respected. Also we have a structure which doesnt seem to be the best on this time frame but gets prevalent and straight forward when we go to higher time frames. Last but not the least. we can see the price making a lower high where as a higher high can be seen on the macd. Entry is also at the 786 retracement or the 886 if price manages to reach that level when the market opens. I am very weak in fundamentals. so i have no idea how the market would react on the interest rate decision going to come in australia on monday evening EST. Not sure if it would have an effect on this pair as well. Would be great if someone could enlighten me with that.
Cheers
Here on this pair we can see a good solid trendline which seems to be respected. Also we have a structure which doesnt seem to be the best on this time frame but gets prevalent and straight forward when we go to higher time frames. Last but not the least. we can see the price making a lower high where as a higher high can be seen on the macd. Entry is also at the 786 retracement or the 886 if price manages to reach that level when the market opens. I am very weak in fundamentals. so i have no idea how the market would react on the interest rate decision going to come in australia on monday evening EST. Not sure if it would have an effect on this pair as well. Would be great if someone could enlighten me with that.
Cheers
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Change in the momentum of one might result in the other pair moving the same direction, so gotta be very careful regarding the interest rate decision
Also one thing that should be kept in mind is that there might be a possible bullish flag and break of the upper trendline might result in a big move up