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Monday, August 02, 2021



We have seen this setup multiple times today and this past week. Its the same setup I used to profit off XAUUSD , USDJPY and USDZAR . My assumption is no different because price is setting-up exactly as my entry criteria demands. We see price is at a key level, Momentum has slowed down forming a sloping correction (but the RSI is showing us a Bullish Divergence - Indicating an imminent bullish reversal). The angle of bearish price movement is more smoother now than it was before, supporting the idea of dropping bear momentum. As always, I will wait for a clear 8 & 14 EMA cross over on a lower timeframe, followed by a trendline break , in order to make an entry.

Potential Risk:Reward ratio is 1:3

This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial.

from TradingView Ideas
via gqrds

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