Aud/Usd - Daily chart - I see a strong demand zone below current price for aussie dollar and I've taken a buy trade around 0.77 with stops below 0.7650 and targets of 150-200 pips. This correlates well with dollar weakness and other major fx pairs in buy levels.
When markets open this evening I will be looking at shorting the Aussie Dollar down to the daily trendline, as this has been respected a few times in the past couple of weeks, this will most likely be an intra-day swing trade to get in and get out. Only because of RBA releasing minutes on Tuesday followed by a speech from Yellen later that day, could make some...
A possible head and shoulders pattern could be forming on an hourly timeframe with AUDUSD, after it is respecting the Fib level of 23.60%. If it forms, breaks it's neckline and plays ball I will be looking at shorting this down to a supply zone and psychological level of around 0.76000
We have the RBA cash rate due tomorrow and forecast is neutral however I will...
i've been waiting for this setup to complete for two weeks now, and finally price has reached the level that i was waiting for, and in addition to that, it also gave us some nice shorting signal.
First, the yellow box represents a daily level of structure, this is a key factor in my strategy and it allows me to find reversal trades in smaller timeframes...
I have now entered a short position on the AUD/USD pair
- Confirmed downtrend with consistent lower highs and lower lows
- Rejection of fib 0.618 on 4hr TF
- 4h Doji candlestick rejection of fib
- 3 pin rejection pattern
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...
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...
AUD is the weakest against the USD but I am expecting the AUD to rise from here.
My SL is 60 pips and my initial target is 180 pips though if we get to 0.7310 I will watch more closely to see if there is a reversal.
this kind of analysis is unusual for me to share, but i want to show how important could be having more reasons together as confirmation of your bias.
The black line correspond to a daily support level, that could turn into resistance now that's been broken. Not only do we have structure, we also have two different harmonic pattern (equal measure move)...