In this chart we see a bearish 5-0 pattern. The yellow rectangle highlights the PRZ consisting of 50-61.8% retracements.
RSI is showing bearish divergence at a 127.2% extension of the previous swing, confluence by 50% retracement from the 5-0 pattern PRZ.
Good luck to all trading AUD/USD !!
RSI is showing bearish divergence at a 127.2% extension of the previous swing, confluence by 50% retracement from the 5-0 pattern PRZ.
Good luck to all trading AUD/USD !!
Note
Now the chart does not look good for the bearish bias. We have the 1 hour and 4 hour timeframes showing hidden bullish divergences:Note
Interesting chart, highlighting the market movements will reveal that the 3 rallies are 13% 8% and 5% advances, all numbers from the Fibonacci sequence:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.