Forex Trading Signals AUDUSD

Since my Forex mentor is on vacation this week I thought I would get a sneaky live trade in if a signal emerged

Nothing was really happening for the Forex signals I have acted on recently in the demo account but then I noticed a bearish divergence had formed on the 30 minute chart. So I drew a trend line under the candles to mark a break point and waited. I also used one of my moving average indicators as a floating support level. Sure enough the trend line was broken but I waited for the candle to close UNDER the line. This is a key aspect of patience I have been working on lately and has been paying off in the demo account. Once the candle closed below my trend line I was confident to go in for a short trade. Sure enough the price kept dropping to bring the IMACD and the price action back into alignment and my 20 pip TP was hit just over an hour later.

One of the things Loz always talks about when talking about divergence trades is that it is not sufficient to jump in when you see the divergence develop, but rather you need to wait for some other confirmations. This is all about perfecting your entry into the trade so the trade is in profit very quickly rather than going against you for a while. In this case, I knew the price would eventually come down due to the bearish divergence but I only had a good entry point AFTER I had drawn in the trend line and support and resistance levels. This type of Forex trading is incredibly stress free!

You can see the setup and TP being hit in the following image. For more information on how these strategies work please click this link.

Forex Mentor