AUDUSD Bullish Convergence Provides Buy Opportunity

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AUDUSD Bullish Setup Forming At The Moment

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Hi Traders! AUDUSD bullish convergence provides buy opportunity for us. In the below video you will find a detailed explanation of this potential buy setup:

 

AUDUSD D1 Chart:

On the daily chart the price is moving inside a bearish channel and the price which is respecting it so far has now reached the top of this channel. Currently it looks like the price is breaking above the top of this channel. In addition to this we have two false breaks with divergence which is followed by higher highs thus creating a bullish convergence, which we may consider as evidences of bullish pressure. We may now expect pullbacks to happen and then we may look for buys.

AUDUSD Bullish Convergence Provides Buy Opportunity

 

 

AUDUSD H4 Chart:

On the H4 chart we have an uptrend line that has formed and the price is respecting it so far. We may now look for pullbacks to happen towards this dynamic support with bullish hidden divergence to form, we may then start looking for buys with bullish evidences.

AUDUSD Bullish Convergence Provides Buy Opportunity

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

If you want to learn how to do such analysis yourself, if you are looking for a professional team of traders and one of the best online trading communities, If you are looking for enormous archive of Webinars, Trading Tools, Trading Strategies, Books, Indicators, Expert Advisors and much much more, join my traders academy club for only $197 PER YEAR.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

 

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Kayden
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Kayden

Yordan, you have explained it so well and I must definitely appreciate you for that.

Paul
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Paul

Charts are easy to understand. thanks!