we can see,
from the Monthly prespecive a strong Resistance line "TREND LINE",
Weekly, the price brom the Resistance line and confirmed it with red candle stick,
Daily we have strong Resistance area, the Red line, before reaching the new High price,
4H frame, i drew to white arrows, predecting the movement of the market, wait for the last confirmation from there,...
Using the currency strength meter our members have can also help add even more confluence - the 'Sell' was a losing trade at the end of last week, but GBP was still a lot stronger than AUD therefore was a lower probability trade.
Although, trading the strategy independently is fine as you can see with the back testing results - it can just help either remove...
Here is my first analysis post on Trading View.
Harmonic Pattern shown is a completed bearish butterfly
Trendlines are valid are show a created channel.
Around (D) Point was my PRZ (Price Reversal Zone) as the entry shows.
TP 1 is at .382 Fib level
TP 2 is at .618 Fib level
Once price hits TP 1 bring down Stop Loss into profit to secure the trade doesn't lose...
AUDUSD I am longer term bullish, monthly up-trend line support
During the week we saw a breakout of resistance on the 60 minute and a retest Friday
This level approximately equates to the .5 retracement of the weekly up move
8 Hour chart shows a potential wave 3 in formation and FIB projection points to a move up
Waiting for open to see the way the pair plays...