audusd short back to monthly support. Breakout triangle has formed.
Wait for trend line break and higher high confirmation.
Common ranging zone Wait for breakout and lower high confirmation.
Consolidation Rectangle Breakout and Trend line breakout confluence. Short to key level. CAD to strengthen following oil price increases. Wait for retest of rectangle
Can wait for retest of key level or triangle before going short.
Lower highs and lower lows have formed. Trade the fib cycle to the D leg.
Pullback completed Bullish engulfing pattern completed on daily Trade to Fib Extension at -0.27
A higher high gives confirmation for this entry
A bounce off this trend line down to major key level confluence with 61.8 fib. Wait for break of rising wedge. Expected upside after this move. May move stops to break even after 50%.
Market is consolidated. Can take advantage of this short.
Will trade up if trend line acts as support.
Short biased on this pair but depending on how price plays out I believe it could go either way. Two trading ideas.
Trade the falling wedge breakout Failure to close below a key level and the 61.8 Fib Wicks don't lie
Rejection of the 1.4000 region