AUDUSD - Analysis, could lead to 'Sell'

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I think the title in my last post was misleading, 'Upcoming'. It should ideally be more like this, 'Market Analysis Could Lead to Sell'. Here's the link to the previous post:

https://www.tradingview.com/chart/AUDUSD/SfbCW479-AUDUSD-Upcoming-Short/SfbCW479

Sorry everyone, it's always been a struggle to get a grip on English. Not everyone is a native speaker!

Here's my input and analysis. I will watch the market closely for possible Bearish Momentum:

EMA 55 is showing an uptrend direction.

RSI reaching the 70% zone and maybe above.

RSI is indicating a change in the direction of the trend.

The chart pattern is a triangle and once the candlesticks reach/cross the upper side of the triangle and we have an overbought signal from RSI, we place a 'Sell' order.

PS: This is my own strategy and backtesting.

٢٤ نوفمبر ٢٠٢٣

ملاحظة

RSI is approaching overbought zone, a potential 'Short' opportunity.

However, sticking to sound trading principles that I'll wait for confirmation next week before entering a trade.

٢٦ نوفمبر ٢٠٢٣

ملاحظة

Market sentiment is 'Short'.

Source: myfxbook.com/community/outlook

I am starting a pending 'Sell' order, given that the Australian session opens at 23:00 GMT.

٢٧ نوفمبر ٢٠٢٣

تم إغلاق الصفقة يدويًا

I closed the pending order that was already triggered at the Australian session by a few pips. Reason: The RSI is above the 30% zone and has passed oversold territory, and I would not keep or enter a trade here.

I will wait and watch the AUDUSD market closely for possible overbought/oversold signals in the coming days, alongside chart patterns for any potential opportunity.

٢٧ نوفمبر ٢٠٢٣

ملاحظة

Correction:

"Reason: The RSI is below the 70% zone and has passed overbought territory, and I would not keep or enter a trade here."