Convergence of the weekly and monthly trend lines in pair. Historically in this trend line down, the corrective moves have bounced of a .5 FIB. No trade until confirmation of breakout of the 1st weekly trend line W1. Look for entry on the shorter time frame D, or 240. This setup is for my trade journal only and does not classify as advice. Trade safely using...
The momentum at inverse appears waning and an ultimate return to over .80 appears viable after potential weekly stops at .75 and .77 Supporting a short squeeze, reportable traders data places market in net short state.
The breakdown of the line would boost the price upwards to the level of 0.7380, 38.2 Fibonacci level in the last bearish movement between 0.8158 and 0.69008
Double Bottom Has Formed On Weekly Support Suggesting The Previous Bearish Momentum Has Lost It's Steam Price Surged And Closed Above Monthly Resistance Indicating Strong Bullish Pressure A Bullish Close Was Made Within Supply (1 Hour Chart For Earlier Entry) Further Indicating A Buy Move Price Above 20,50 And 200 MA The Recent Gold Hike Further Confirmed My...
Looking for Cypher completion around 0.6967's. Stops go below X. Targets at .382 and .618 Fibs.
There is a very nice potential rally on FX:AUDUSD . As we see price has broken a bearish trend @0.7021, then made a pullback, then tested the high @0.7040 and now is ranging in ascending triangle. If the price breaks the triangle and makes HHHC, then we are in a bullish market. Our potential target is next structure @0.7096 with the confluence of 1.618 fibs...
Trading plan, target, and sl as on chart
AUDUSD Is still maintained a good momentum upwards, but we need strong K to break through the resistance.
Interest rates increase were postponed last week, so investor would most likely sell the dollar again this week, Good luck .