Really liking this AUDUSD chart. First the nice red channel downtrend, followed by the blue upwards chart : our first sign that price was possibly rolling over to the upside.
We had a couple resistance rejections (red line) but no follow through to the downside... There's a new channel developing : the green one. Notice that the RSI dipped into deeper oversold levels. This unfolding price action could turn out to be the setup where we see price breaking resistance (red channel).
We had a couple resistance rejections (red line) but no follow through to the downside... There's a new channel developing : the green one. Notice that the RSI dipped into deeper oversold levels. This unfolding price action could turn out to be the setup where we see price breaking resistance (red channel).