Categories: Technical Analysis

AUDUSD in front of correction

After the serious down move which came in two waves I think the pair is in front of correction.
Technically it all points to the same direction so here is our plan for this pair.

Technical Overview:
D1 – double wave down duplicated, down trend line to which we can expect the pair to move (at least to there)

H4 – Bullish Convergence – now we can expect the pair to correct a bit and continue higher

Entry:
Drop to the H1 and look for bullish hidden divergence to be completed which will be our trigger for a buy
Target 1: 0.8270
Target 2: 0.8550
Stop Loss: below 0.8110

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.