We can see previously when price broke this level it dropped significantly to the highlighted level of support, I expect the same thing to occur
I see multiple points of divergence and price had dropped previously only to retest the area
I see a flag formation formed as well so once thats broken... BOOM big sell
Getting in this later with the following...
Previous when price broke this level it plummeted, im expecting price to do the same again now
I am waiting for support to be broken before entry but below is the signal i will use
AUDUSD - SELL
SL - 0.71552
TP - 0.64478
This week we saw price break through the key 69000 level and pullback into it strongly. Price formed a higher low from the previous swing coming in at 68380.
At these levels, we need to wait for further bearish price to come in to break the 68380 level. The break of the lows will be the opportunity to short.
Price is bullish above the 69640 level,...
The AUDUSD found some clean moves this week resembling a bullish trend forming. Price found rejection about the 200MA and the 69300 handle. This is due to the dollar pressure on good progress on the US-China deal.
Any good trade news is bullish for the AUD and the stochastic is showing a bullish cross too. If we can stay above 68750 we have a case to...
AUDUSD was travelling following a descending trendline. It broke out above the trend line, came back to retest before making a higher high. This is all confirmation for a long opportunity. A further confirmation is the horizontal resistance zone marked out in a red rectangle that was just broken out of to the upside and retested before going back up.
AUDUSD has been travelling in a descending channel, however it has broken out to the upside. Another few confirmations of a long trade was the Higher High made and the major support zone price just tested and bounced from which caused it to breakout of the channel. Price will now come down to retest the channel, and then make its way up to 0.70100 region.
AUDUSD has broken a major level of support and has already come back up to retest it, however before we think about short trade opportunities price must make a candle close below the yellow rectangle, once we do we will be entering short trades. Price may make a fake out, that's why we are waiting for the candle close below, price may still move upwards, break...
AUDUSD was following a descending trendline marked out in the thick black line, we recently broke above this trend line and at the same time broke above a major resistannce zone. Price has come back down to retest the channel and the newly made support zone, now price is going to make its way up to the next resistance zone.
AUDUSD took a large market gap this week and it broke below the major support marked out by the pink rectangle. We expect price to come back up to retest this area at the 0.500 - 0.618 retracement level before dropping down to the -0.27 extension level which is where the bottom of the descending channel price is traveling in.
AUDUSD price has been travelling in a horizontal channel and a descending channel, the horizontal channel is marked out in pink rectangles and the descending channel is marked out in blue lines. Price recently dropped rapidly down to the bottom of the horizontal channel and on the daily chart a doji candle has been formed with a green candle next to it indicating...
For quite some time AUDUSD has been travelling in a horizontal channel. It has been bouncing up and down in between the zones marked out above. Price has started making some higher highs, meaning that we could be seeing a rally to the top of the channel. We expect price to come backdown to test the black trend line marked out above before making it's rally up.