This is a very high confluent trade with fundamentals to back it.
1. SSI Index showing high percent of retail traders short 2. Just completed D of a AB=CD pattern 3. At the .618 fib level of the last leg 4. Holding support at a prior resistance area. 5. Divergence of the 4 hour 6. Also, you can see the trendline is holding as well 7. AUD news coming in about 24 hours, which should send the AUD down.
Commenti
JosephHeywood
⋅
I had a similar set up on the EURNZD which has no gone as expected. I am having no luck the euro at the moment. You mentioned SSI index, what do you mean by this?
adriel.arrasmith
⋅
Sorry never saw the message. The SSI index tells what retail traders are doing, which they're usually wrong. You can find this on dailyfx.com or google Onanda retail and see it there.