Shorting GBP/AUDShorting GBP/AUD as today's high test bar has shown resistance to ~2.0870, the falling trend line and 50 ema all of which have lined up close enough to a tee. Stochastic and RSI also show bearish hidden divergence .
entry - below low of high test bar
stop loss - above high of high test bar
target - at previous low or lower
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Hidden Bearish RSI Divergence
A short entry on GBP/AUDShort set up/entry reasoned from:
- high test bar close
- resistance at ~2.1470
- trend line resistance (4th test)
- rejection around 50 ema
- 50% retracement and close below
- oscillator bearish hidden divergence
entry - below low of high test bar
stop loss - above high of high test bar
target - at previous low or lower (after break of and close below previous low)
EURUSD: TWO BEARISH PATTERNS WITH HIDDEN BEARISH DIVERGENCE !!!Hello Traders,
Here we have two really good bearish harmonic patterns on the FX:EURUSD and both are very close to their completion points. One of the pattern is bearish bat pattern , while the other one is bearish crab pattern . We are also seeing hidden bearish divergence on the RSI, which is an indication of weakness in the bullish strength. I have color coded all the targets and stop loss levels on the chart above, so that no one gets confused between the two harmonic patterns. See the chart above for more details.
NOTE #1: I will also be posting the weekly outlook on this pair very soon, so make sure to check that out as well.
NOTE #2: I recently created a twitter account , where I will also be posting all of my future trade ideas, side by side, with all the updates. Anyone who is interested, can follow me on twitter as well. You can go straight to my twitter account by clicking my twitter username on the top of my profile page. Just in case, my twitter username is: moneymaking2016
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)