Closing buy and planning to sell | AUD/USD analysis by Keon Consultancy
- KeonConsultancy.com
- Apr 14, 2020
- 1 min read
We are gonna close buy at FIB 78.6 of downward thrust because it has become overbought. Moreover, MACD has made higher high whereas the price has made lower high; which forms a hidden bearish divergence.
If price returns downward from FIB 78.6 of downward thrust and make any bearish candle pattern on H4, we will enter sell and will target 30% of upswing. Please see attached graph to understand:
Here is how sell position was entered:
Buy trade has reached target. We will be looking for any bearish candle pattern on H4.