AUD/NZD short position
Updated
SMA/EMA crossover is very accurate on the 4HR scale with few if any false signals/smaller waves. We are having a convergence with means the reversal is near. I predict that it will soon crossover, we will move to the bottom of the wedge before returning back up.
However, big moves down like this tend to happen with both Stoch RSI and MACD are showing signals of overbought. Although MACD and RSI are looking okay for a move down, Stoch RSI is not really doing so, so it will be interesting to see what pans out.
WIll wait for confirmation either way before entering my short position.
However, big moves down like this tend to happen with both Stoch RSI and MACD are showing signals of overbought. Although MACD and RSI are looking okay for a move down, Stoch RSI is not really doing so, so it will be interesting to see what pans out.
WIll wait for confirmation either way before entering my short position.
Trade active
If the price continues to move up to the upper bounds of the wedge I will wait to see whether it bounces and reverses or continues. I will enter a long or short from that position accordingly.
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