EURAUD BEARISH DIVERGENCE SETUP
Updated
EURAUD is signalling bearish divergence, with lower lows and lower highs in RSI while price has increased.
Enter short on break of channel, targeting support.
Trade invalid if channel does not break, or resistance breaks.
Note trend is up, so we are looking for a corrective move and to get out on any bullish reversal signals.
Enter short on break of channel, targeting support.
Trade invalid if channel does not break, or resistance breaks.
Note trend is up, so we are looking for a corrective move and to get out on any bullish reversal signals.
Comment
Bearish fade is still valid, as divergence holds and price action displays double top. You could short here with SL above the high. Exit if RSI trend is broken.
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.