Wedge formation, this is a retest of the support according to my analysis. Still expecting upside. Target still around the 132.000 region.
The purple line is a monthly trendline. Very strong trendline, watch for short.
We have seen the market find support again at 0.7480. A hammer was form on a 4hr time frame.
Monthly Downtrend Weekly Downtrend Hour 4 declining trend-line respect 50% fib 21,SMA 8 EMA cross over
seeing this going long for some pips and possibly turning around and turning down. long term short
I believe that eur_aud will continue to fall. Price rejected my fib level 38% level and then price started to fall hard. With continuing bearish movement. Also my MA's crossed over to the downside for added confirmation that price will arrive at 1.3250.
Posted about this one a few weeks and am still holding all my shares plus a few more. This will be 2017's big winner IMO. Low floaters move FAST. The company has revolutionary patents pending as well as great news released last Friday about their new products. It's extremely undervalued, and I know for a fact strong hands like myself will continue buying up...
Some say intuition is irrelevant when trading, I believe its the holy grail. Become in alignment with the market, with an attitude of confidence. Allow flow to guide you in the markets direction & you will be pulled to the exact PIP.
It has a hit a LT trend line with a LT resistance ( 4HR ) and the opportunity could be a big one on either the down or upside. Keep a good look at it.
Waiting for a bearish break of this range in NZDUSD hourly time frame.
Selling/Buying Potential - I have left an alert to asses the quality of the previous resistance line (Dotted line), I want to check if it tests it and gets back on the upside or break on the down side to set an entry. P.S - Keep an eye if its breaks or tests in either the 0.50% / 0.618% Fibonacci line for a close or to still hold unto the move.
price has broken the channel and we are waiting a pullback before we attempt to short the market and sell. we shall be awaiting a candlestick reversal to occur and we shall be taking profits at the previous support.
Strong support resisting any breakthrough. Double hammer price action confirmation. Retrace back to 61.8 fibs
Downtrend established due to 2 consecutive cycles. respect of the 8 ema and therefore under the ema ( to the left) touch of 27 extended fib so due for retracement and back down to extension 61.8 to fulfil the ABCD pattern Potential to go even further to the monthly support around 0.70500 4:1 ratio risk reward
LOOK AT THE CHART, THAT'S HOW SOMETIMES USING A LIMIT ORDER CAN UPSET :( AND YOU KNOW WHAT USE TO HAPPEN WITH ME IN SUCH SITUATIONS - YEARS AGO WHEN SOMETHING LIKE THIS WAS HAPPENING, I WAS LOOKING FOR A BETTER APPROACH, GUESS WHAT - I WILL NOT CHANGE ANYTHING NOW, THAT WAS SIMPLY SOMETHING WHAT SOMETIMES HAPPENS. FOLLOW YOUR RULES - NO MATTER WHAT!!!