We basically have a wedge here, so we need to wait for market to react. If we break the upper the trend line then we buy. if we break the minor trend line ( dashed line ) we sell conservatively. if we break the major trend line, we...
Price action has closed with 3 failed weekly attempts at breaking the 0.76435 level suggesting that a move lower is most probable for the week ahead.
Divergence is building on H4 and low time frames confirm a week movement upwards, I expect the price to correct till the trendline and further move towards 0.7697 presenting a shorting opportunity.
I just updated my chart of AUDUSD. Yes it is still in Bear market but I added TWO BLACK LINES for possible range trading or Parallel trading lines. Remember this is a monthly chart so for clear picture you can take the concept and draw a clear chart in Daily or 4 hour chart time frame.
RSI is closer to overbought than I would imagine the market would be comfortable with going into a major interest rate decision. So I am looking for consolidation after not so great FOMC news.
The price finding support area at 0.7452-0.7473. Bullish as long as support area remains intact. As intraday trading strategy. we must get bullish signal confirmed by trading above 75.07 with potential target at red lines.
We can enter short positions in AUDUSD after the trendline break (conservative traders). Aggressive ones can enter the trade in resistance zone without any confirmation ( risky type). Check your risk n reward also... Thanks for your support..Happy Trading !
Trade Wisely! ANYTHING CAN HAPPEN!
Hi Guys, In 4h AUDUSD chart price is retesting the trendline as of now it looks as breakout but lets wait for candle close by which we can determine breakout or not, Conservative traders can wait for another candle for valid confirmation as RSI is oversold in AUDUSD. There is possibility for current candle being closed as Doji over the trendline. Hit Likes if...
It's a potential short position for at-least 100 pips. Based on AB=CD And Gann Analysis, It's a potential short position for 100 pips. In a low time-frame (1hr) this short position is also conformed. TP & SL are mentioned in the chart. My Stop Loss is 0.76800 based on my strategy. Adjust your Stop Loss according to your lot size, account equity ,strategy &...
Technical's confirm trend channel reversal. Downside is on the horizon.
Pivot: 0.7575 Most Likely Scenario: long positions above 0.7575 with targets @ 0.7640 & 0.7660 in extension. Alternative scenario: below 0.7575 look for further downside with 0.7540 & 0.7520 as targets. Comment: a support base at 0.7575 has formed and has allowed for a temporary stabilization.
Greetings Traders! Check out the video for the outlook at: youtu.be We have a up trend continuation that has formed. Looking at 0.45629 as a resistance/support level. Break-below this level would indicate a SELL opportunity down to the channel support or 0.75107, which ever comes first. A retest and continuation would indicate a BUY opportunity up to 0.75900 or...
I expect a C wave down to complete the Zig Zag. Wave (A) five waves down, wave (B) three waves up and waiting for the next (C) five wave down.
Waiting for reaction and good Opportunity to Sell and Buy Watch the price action and read the order flow to this level today Short first and then Long This H.P can display rapid price action movement, often resulting in fast reversals at the PRZ.