You can see a converged triangle, two short-term top and bottom line, and fibonacci. The top line and the bottom line are concided with fibonacci. Just wait the price break either top or bottom line to show the next mid-term direction. Coming soon~
USDCHF Covergence we wait for a local bottom and buy in h4 RSI is oversold
This pair is closing in, and it is getting ready for a breakout. It is expected that the AUD will be getting stronger, but sometimes expectations aren't met. Price and the RSI are paired up right now with the converging pattern. A break up is a long signal and a break down is a short signal.
Another tool in the tool box: pairs trading. What is it? It is the trading of closely correlated underlyings at points of unusual divergence and operates on the assumption that the pairs will eventually revert to the historic correlation. GLD and SLV are closely correlated pairs. On the chart below, you'll see that, for the vast majority of the time, GLD and...