FX:AUDNZD   Australian Dollar / New Zealand Dollar
Waiting for price to re-test 1.1300 level before looking for opportunities to short.

Comments

Hi, did you notice the RSI is divergence with the candlestick for daily chart ? any action now?
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RicSoo LillyTang99
@LillyTang99, I see. No action for me yet, I'm still waiting for price to test 1.1300 or on daily chart it gives me some bearish price action then I will be keen to trade.
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RicSoo LillyTang99
@LillyTang99, I saw the divergence on W1 using RSI 8. Thanks
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Nzd has been pricked by the Labour party support. To me it looks like is going to burst out of that multi month resistance zone, possibly after a bit of consolidation. Its 5th touch to the Resistance line. I guess more the # of touches... higher will be the breakout range when it breakout. So be cautious if you plan to short it. Higher lows and higher highs prompt me for a buy setup at appropriate time. Thanks for the setup.

Yes, but I will agree its a shorting setup for Intra-day. But for a swing or larger TF it should be buy. Thank you.
Reply
RicSoo ForexTurtle
@ForexTurtle, Awesome view! Agree with u too. I am trading intraday thus short-term bias is short. If price gives a decisive break of 1.13 level, im interested to look for Long opportunities.
:)
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