here comes a structure trade: as you can see the last downward impulse has broken the previous support, this specific level becomes the first candidate to become new resistance (this it the key principle for structure traders). At this level happen to be also some confluences like a 618 retracement, a psychological number (1,46) and the divergence down...
Among my 4 trade setup starting last week, only AUDUSD was triggered. The rest was not triggered which means, we did not lose any of them as well.
Trade setup last week shows a
94 pips gain out of 108 pips target and the remaining 14 pips will probably be hit anytime...
Friday saw AUD/NZD bounce off a well-defined support/resistance area but doubts remain whether this pair is headed higher or lower.
The Daily and H4 TDI levels suggest we're going lower but H4 is moderately BULLISH.
If the support level at 1.0761 holds then look to go LONG.
If this level breaks then SELL this pair down to 1.0560 area.
The stiff resistance at .7732 area remains intact and whilst we remain under this level we should be looking to SHORT this pair. However from these levels (.7500) with RSI over sold and solid support beneath, AUD may attempt to recover.
This looks quite an easy trade so if .7490 remains in tact and we see price move north we can look to BUY this pair from current...
On a weekly time frame, the market has been in sideways and just recently the resistance zone at 0.7720 - 0.7770 retested.
On a daily time frame, a strong resistance zone at 0.7720 upto 0.7770 as everytime the market hits that level, the market retreats towards 0.7500 zone. By observing the price action, the way the market climbs towards the 0.7720 - 0.7770 level...
as you can see on the chart above, on this pair we're retesting a key structure level. In doing so, price has created a nice engulfing candle bigger than all the previous ones. This, together with the RSI Divergence (that you can see on the bottom) makes me think this could be the reversal beginning.
Stops owuld go above the highs, target1 at the retest...
Weekly descending trend-line and minor decending channel
broken to the downside.
Monthly resistance key level 0.76500 tested and held.
A-B-C Fibonacci re-tracement 50%
SMA and EMA cross over on daily+hour...
Short Bias - Price manages to break the bearish flag setup, confirming the 4 wave. Expected target would be for price to push into demand, supported by the Fib Extention of 50% thus completing the 5th wave.
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...
Strong rally to previous Supprot/Resistance
Strong pin bar + closing below bar`s low.
Trend line rejection
Daily pivot R1 rejection
61.8% Fib retracement
15m momentum down
Taking profit at 50% retracement level of the rally
today i want to share this top down analysis on AUDUSD. As you know, i start my trading analysis on higher timeframe (to get a bigger perspective), and then i enter the market in lower timeframe.
On the daily chart we recently exited a OVERBOUGHT condition on RSI, that's indicative of an overextended market, near to a Cypher completion.
So the bigger...
today i want to share with you another opportunity on AUDUSD. For those who are not familiar with simple patterns, this is a wedge pattern (rising). This kind of formation usually occurs after a very steep movement; you can identify this by drawing two trendlines on the chart. You see the bottom one is steeper than the upper. This means price is going up...