Hello,
I can see the following signs for a sell on AUDUSD:
H1
- Brearish movement
- Candlestick: bullish-engulfing
- MACD: buy divergence (on this timeframe means correction up to the trendline)
H4
- Bearish movement
- The impulse was big, now is time for a correction
- Candlestick: billish-engulfing
- MACD: no divergence
D1
- Bullish movement
- MACD: there is a still developing divergence to sell
CONCLUSION: wait the H1/H4 correction to finish and sell on D1 divergence after the price go under the D1 bullish trendline.
Trade entrypoint: after last minimum
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I can see the following signs for a sell on AUDUSD:
H1
- Brearish movement
- Candlestick: bullish-engulfing
- MACD: buy divergence (on this timeframe means correction up to the trendline)
H4
- Bearish movement
- The impulse was big, now is time for a correction
- Candlestick: billish-engulfing
- MACD: no divergence
D1
- Bullish movement
- MACD: there is a still developing divergence to sell
CONCLUSION: wait the H1/H4 correction to finish and sell on D1 divergence after the price go under the D1 bullish trendline.
Trade entrypoint: after last minimum
If you liked this idea, please like and subscribe to my profile to receive more ideas.
This idea does not provide financial advice.