Wednesday 8 May 2013

AUDUSD - Range Based Reversal

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Hi Traders

AUDUSD setting up to go long in Range Based Reversal set up & scoring following points.

1. Strong Level of Support (1.0154)
2. RSI Divergence              (there is strong divergence on Stochastic & Momentum as well)
3. FIB Extension Level       (Between 1.27 - 1.618)
4. Bullish price action          (Inside bar & low test bar too)
5. Flat Moving Averages.