Hello, i posted before a chart about this trading system, you can check it on related ideas below.
Here is another good example real-time on AUDUSD. I wanted to repeat the process and share some tips based on my own experience.
1) We found a clear downtrend (series of HH,HL)
2) The downtrend is broken and a Higher High is formed (convergence)
3) We confirm the...
*Correction: It's a LH not LL on the weekly chart
This is an attempt to demonstrate one way I use to approach the market and find potenital trades.
Starting from the higher time-frame - Weekly Chart
identinfied highs and lows to clearly identify the trend(Bearish)
Drawn the main falling trend line, and the fibonacci retracement levels.
The latest upside...