AS STATED IN PREVIOUS POST (LINK TO RELATED IDEAS), I AM IN THIS TRADE CURRENTLY. PRICE ACTION BACK ON THE SUPPORT SIDE OF - AUDUSD 0.78890 - WEAKER DOLLAR ALL AROUND TP: 0.80050 (MAY CLOSE POSITION ON FRIDAY IF PRICE ACTION IS AT A GOOD LEVEL) ENTRY: 0.78872 SL: 0.78320 TECHNICALS B4 FUNDAMENTALS #LETSGETIT
TG 1 = 90% probability TG 2 = 72% probability TG 3 = 54% probability
Price rebounded of the Daily/Weekly channel resistance trendline, made an impulse and now its correcting forming an Irregular flat. I think the move to the downside is about to start any second. I would place the stops above the previous high because i dont think twe are going higher than that.
Rejections at 1.003 and 1.004, which also happens to be a historical structure area and a 0.618 fibonacci together with weakening momentum. These key points build this case for me. Aiming for first profit at 0.994 and final at 0.988
It is possible to rollback downward from the downward resistance level of the long-term consolidation model.
I agree with Kathy Lien's analysis in this article. There is a strong opportunity for an AUDUSD short here, especially with the potential for a slight USD recovery this week and next due to rate hike expectations. www.investing.com However, this will ultimately set us up for a swing buy, hopefully around 0.73000.
Structure, trend line, and a fibo 0.618 are all fighting together for me on this one. I will watch closely and keep trailing tight after passing 1.0 down at target two. For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
It is possible to form the "Head and shoulders" model with a target level in the region of the level of long-term support.
At the moment, we have a long-term consolidation. We can trade inside consolidation or breakdown.
At the moment, we have a long-term consolidation. You can trade within a consolidation or breakdown. In more detail, trade within the consolidation is dealt with in Part 2.
Short - rejection from 0.76 round number and 38.2% retracement of the down leg. Fundamentally there is monetary policy divergence between RBA and Fed which supports this trade. Hedge with AUDJPY longs from current levels.
Daily supply zone hit + Trendline hit + bearish pattern + Trendline BO = Good sell oportunity Entry: 87.287/ Tp: 86.393/ Sl: 87.620
Sell at 0.7684 and if go above then also sell from that level and first tp is 0.7600 to 0.7520
Recently, as you can see on my recent published charts, mr batman has proved himself incapable of assisting and been completely beaten down. In this setup we have a bigger gartley-pattern which could add some backup to the weak (yes.) bat, together with falling trendline and structure looking back - and the double top that these two combined will form when the...
4 failed attempts on breaking to the upside. We now have a broken trendline to the downside. Targetting retest of 1.00000 Stop loss above the highs
Time to get short!.. Or long!.. Or both. We're currently in a previously tested channel with support/resistance both above and below. We see two pattern forming. Gartley (red) and bat (yellowish). Orders are pending on both, lets see which gets filled!