i've been looking for this setup to complete for a very long time, now price has finally finished the AB=CD patterns i was paying attention to.
The reason why i was so interested in these pattern is because their completion point line up pretty well with a daily and weekly structure looking left.
Besides, also the 382 retracement of the bigger impulse...
At the moment, in the big picture we are forming an ABC zigzag correction pattern which will take us into the 1.07408 area in which price will continue upwards. For now we can short down to this level by taking flag breakouts in favor of the downside. We have just closed below an ascending triangle on the lower timeframes and this has lead me to go short taking...
Long Bias on FX:AUDNZD.
Price has created a new demand area on the daily chart.
New Price Structure
Price is creating new HH and HL
Price has bounced off of the Daily 50% fib Level
Targeting -27% fib extension which is previous weekly supply.
AUDNZD has pushed into overbought and the TDI suggests the BULLS are weakening.
SELL this pair with a STOP at 1.0950 (12 pip risk)
This is still a BULLISH pair so this is a scalp trade down to 1.0900 or lower depending on price action.
here on AUDNZD price has recently created new structure low. Besides, there's no structure looking left until 1,0750. That's why i want to get involved in this trend continuation trade.
As you can see, price is now coming back to retest previous support, which once broken could become resistance, and it's having some troubles getting beyond...
AUDNZD may pause for breath here as its impressive climb from the end of January pushes higher and higher into overbought territory and the BULLS exhaust themselves. Any pullbacks should be used as an opportunity to go LONG.
I wouldn't SHORT this market as this is a strong BULL run and prices could still head higher.
Better to wait to see if we get a...
here on AUDNZD we have no structure looking left on the higher timeframe. In cases like this i start looking for simple pattern formations, like flags, triangles and wedges in the trend direction.
On the chart above you have what could be considered a flag pattern that's been broken to the upside. Price is now retracing back and giving us a better risk to...
for those of you who day-trade advanced pattern formations there's a Gartley pattern completing at 1,0904s on 15m AUDNZD chart. I'm already involved with this pair (see attachment) so i'm not taking this one, but i wanted to share with you anyway,
Stops above X, targets as usual for pattern (better risk/reward ratio with such a deep Gartley).
If you want...
i want to explain to you why i'm going to short this pair if price pulls back a little bit more. As you may know audnzd -0.12% has been moving upward without interruption: both in the daily and 4hr chart Rsi is in overbought condition, and this tells us that market is overextended and there's maybe some room to retrace and let the trend breath....
AUDNZD might be ready for a reversal on a zone of resistance.
AUD has been bullish for quite long now and the indicators start to show divergence.
The reversal zone has been serving as Support or Resistance in July 2014, May 2015, end of January 2016.
We might want to wait for an optimal entry point and then let the market decide how this will go - possibly with...
A doji was formed around a strong resistance line on the 4hr time frame. I am comfortable that a drop will occur and will I hold unto this position until it reaches the 50% Fibonacci line. In which I will conclude if this position has potential to move further down.
My stop loss is above the resistance line.
this morning i want to share with you this setup i've noticed on this pair.
Price has approached a resistance structure zone on Wednesday, and since then it's failed to create new highs and so it gave me reason to believe this is a good zone to short the market.
In the daily chart we've recently exited an overbought condition and here on the 4hr chart...