if breakdown important level 0.8300 / i am entry 2 orders on 3 bar above this lelel on 5 MIn timeframe
1 bar - shaped level
2 bar - confirmed
3 bar - entry buy limit order on 0.8301 / and 0.8300
first target 0.8325
second target 0.8345
also opposite situation if price ressist at target 0.8300
strength support level 0.8400
first order : buy limit in area 0.8400
first target close at 0.8450
second order :buy limit in area 0.8400
second target - 0.8477 on my opinion
Looks like we might have an AB=CD buy pattern on the 4 hour for AUDUSD.
Using the Fibonacci Extension tool, I think the CD leg will complete at 1.217 giving us an entry point @ 0.8427. If the CD leg takes around as long as the AB leg to complete (17 bars) that puts this trade on the calendar at the end of Monday or the beginning of Tuesday, but time will...
After breaking north out of the diamond and then dramatically retesting on a news item, price bounced and stayed above trend lines and the midpoint of the diamond. Looks ready to resume upward momentum. Bullish divergence also gives a clue as to where price wants to go.
AUDUSD is making a tradable bottom on the weekly chart as seen by the RSI, Stochastics rising off overold levels. The weekly MACD blue line is still sloping a bit down, but appears to be in the early stage of flattening. Significantly, you can see AUDUSD having found support close to current levels in early 2014 and early 2010. AUDUSD broke briefly below this...
I DO NOT MAKE IT A HABIT TO TRADE AGAINST SUCH STRONG TREND, BUT THIS REVERSAL IS NOT IMPOSSIBLE. PRICE STOP EXACTLY AT THE .618 AND IS NOW PULLING BACK FOR A SHORT .236, THEN FURTHER DOWNWARDS WE GO
This pair is showing a strong move downwards that i'm expecting to keep the same pace. I'm looking for a slight pull back to the .236 now before further downward move. this .236 can create some nice buying opportunities. I WILL POST A SMALLER TIME FRAME IN A BIT AS TO HOW I'M EXPECTING THE RETRACEMENT TO PAN-OUT.
