Hello traders! I just checked my chart and I have some good trading opportunities for you all today. There was no trading opportunity yesterday and I am so happy to know that there could be some opportunities for us today. It's for my favorite pairs, EURUSD and AUDUSD.

Hello traders! I just checked my chart and I have some good trading opportunities for you all today. There was no trading opportunity yesterday and I am so happy to know that there could be some opportunities for us today. It's for my favorite pairs, EURUSD and AUDUSD. Let's check one by one:

 

1. EURUSD: Buy on Pullback, Hidden Bullish Divergence

Look at this chart, EURUSD on 4H chart:

eurusd
There is hidden bullish divergence showing and this gives us a signal to go long. The Stochastic is in the oversold area and we should wait for it to crossover.

  • Position: BUY
  • SL & TP: around 1.130 and around 1.1480
  • Confirmation: we MUST wait for the price to break the minor trend line before we enter the trade. Ideally, I will wait for the price to close above this minor trend line, around 1.1355 and then enter the trade. Make sure the Stochastic is showing upward crossover and MACD histogram closes higher.

No trade should be entered if above requirements are not met.

 

2. AUDUSD: Head and Shoulders Bounce

The second opportunity is for AUDUSD pair. Let's take a look:

audusd
You can see, there was a head and shoulders pattern and most traders are looking to sell this pair. Well, I see it differently. I know so many traders will wait for the price to break the bottom trend line, but I think the price could go the other way.

Actually there is hidden bullish divergence on 4H chart, and this could be a signal to go long, or a bounce from the bottom trend line.

Actually I prefer to BUY this pair, but I do not close my eyes to SELLING this pair, I need confirmation before I decide to enter the trade.

  • Position: BUY
  • SL & TP: around 0.7235 and around 0.7375
  • Confirmation: enter the trade if only the price breaks the minor trend line, and closes above it, around 0.7285. Pay attention to the Stochastic and MACD histogram too.

Let's just wait and see, and make sure we have all the confirmations before we enter the trade, and don't forget, use proper risk management.

Happy trading

RICO FY