just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i...
Price has fallen nicely into daily res. swing low from 2nd March to swing high on the 6th March retracement puts price just below 61.8% key level, and also have the moving average crossover too. Standard risk reward, see how this plays out.
Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.
i want to share with you a nice setup that i'm gonna pay attention to over the next days. As you may know, 2618 is a strategy that consists on selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline.
In this case, we can also see that it happens to be right on the previous support (that should act as resistance once is...
Our last week’s analysis is still valid for the upcoming week.
If we have taken the trade, we are still in positive. A good entry would be a sell limit at 0.7613 with 71 pips risk and 164 potential profit which gives us 2.3:1 risk reward ratio.
SL @ 0.7702
Sell Limit @ 0.7631
AUDUSD sold off aggressively on Thursday but recovered on Friday and put in a pinbar reversal candle. Quite a bit of negative AUD sentiment has halted the AUD's impressive rise from .7162 and multiple resistance at .7732 appears to be insurmountable for the time being.
Monday and Tuesday see the release of AUD Retail Sales followed by the RBA Cash Rate and...
AUDUSD is currently trading in a defined range that has been in play of a while. Price is approaching the the support line of the ranging market as well as the 50 day and 200 day moving average . Stochastic RSI is also in oversold territory. Wait for price to move lower towards the 50 day and 200 day moving average and buy on the bounce. Profit target should be...
Price has recently broken out of the choppy range at resistance around 0.77400s to the downside
Previous support can be found around 0.75200s, an area confluent with the 38.2% Fib of the upswing.
RSI is already oversold a touch
I will be watching for bullish signs to get long, preferably a double bottom.
This is my trade of the week due to the fact the AUD keeps attacking resistance and cant hold as you can see in the blue box above, the green line shows a strong area of support and resistance and the red is a support level that we have seen over the last few days giving us a strong uptrend. I believe with recent bullish news from the US we can take a trade that...
looking to sell AUDUSD, price has been hovering around the major resistance for awhile now. following the bearish engulfing daily candle price seems to be ready for the retrace. SL above high and descending trendline. TP 0.6fib.