After thinking for a while i decided to open a thread to post my analysis of all pairs using divergence as main indicator and to show people how to use divergence in many ways . Taking trades only on divergence can be very dangerous , but if you use it combined with s/r , trendlines , fibbo etc it can be very useful . Everyones opinion and criticizm are welcome .
AUD/NZD on the weekly chart you can see that price is struggling to break thru old support , that could mean that it became new resistance also old trendline could be new resistance . There is divergence on Weekly and daily charts . You can tell by the candless that bulls are weakened .
P.S Don't mind the arrows at divergence indicators , they mean absolutely nothing , just can't remove them .
AUD/NZD on the weekly chart you can see that price is struggling to break thru old support , that could mean that it became new resistance also old trendline could be new resistance . There is divergence on Weekly and daily charts . You can tell by the candless that bulls are weakened .
P.S Don't mind the arrows at divergence indicators , they mean absolutely nothing , just can't remove them .