Let's see is the infamous DOW offers a temporary short during or leading into the US session.
Looking for selling op's on 15-min and to protect position early by moving to B/E (to the down side) or wait for buying opportunities near or below 34120
Looking for GOLD to complete this next leg up before making one more strong finish to the down-side in the area of 1125-20/oz.
I am always interested in getting your own personal view as well.
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Anticipating a bounce off the 1.4430 (61.8) area and a possible retest before a long move. If price action breaks through the 1.4700 handle with a nice impulsive move I will look to manage trade accordingly during correction for a carry of about 500 pips from entry at/near 1.4450.
The objective is to target 1:10/15 risk/reward depending on stop loss of 50 pips...
Hi Traders, I don't typically trade this pair but I like the setup to say the least. Impulsive short move (a), followed by the current corrective price action (b), while i'm on the side lines waiting for the beginning (0.7660/700) of a possible (c) wave to the downside. Risk/Reward for this trade seems like it will be very good. Stop Loss, depending on how close...
Several forms of analysis come together in this picture...
WAVE ANALYSIS: 5 wave down then what seems to be a wave a/1, an expanding triangle/wave 2 of an possible abc correction.
SUPPORT & RESISTANCE: Price action found support/buyers at/near the 1.4430/00 handle bouncing off the 61.8 fib level (confluence) with consideration of divergence in play.
FAMILIAR...
Another FAMILIAR setup* FX:EURCAD had setup a nice FAMILIAR 3 point turn, printing a low, lower low and a higher low. Similar to my recent EURAUD: forecast. Buying dips (40/50p retracements) on a H1 chart can provide very profitable trading opportunities. Considering the fact that order flow is accumulating bids, this pair can soon become aggressive to the upside soon.
Really simple, AUDUSD broke below 0.7690 with impulsive selling then found buyers at a trend-line support (0.7550), anticipating a pullback of price to return to the 0.7690/80 area before continuing lower. The first target 0.7550 200+ pips (prior swing low on the 240 chart). with 2nd target being 300+ pips.
Entry 1: Sell 0.7690/80 if price action retraces
Entry...
The most recent impulsive move (380 pips) was to the downside, which also broke a prior support and trend-line support. Looking for price-action to return to 0.6850/0.6900 (completing a flat correction) before continuing to the downside. This move can put a few pips on the score board, about 40-80 pips if you buy at current market but I anticipate the next...
#OnMyRadar...
My Market Opinion: 3 Point Reversal which involves a swing low, followed by a lower low, then a higher low. In addition what I am seeing is a possible WAVE 2 completion which can lead to an impulsive WAVE 3. All things considered, I am currently a buyer in this market from 1.4550. NOTE: Use a proven method that has worked for you.
I hope this...
We have been presented with a wave 1-2-3 and an almost completed wave 4 triangle (corrective structure).
Waiting for a pullback and failed break/test of the *ACE-Line* (upper channel/trend-line resistance) of the triangle to sell short or a break below the *BD/support line/lower channel to get short.
*NOTE* If price action produce and impulsive breakout...
