Price re-approaching 34.23. Idea: wait for a fake breakout to the downside and when price reverses back up, enter long. Avoid: Early entry. Wait for confirmed rejection!
Please see annotated chart for details.
Simple i suppose and clear. close below this trendline, either short straight away or you could wait for a retracement up to you
AudUsd has broken above weekly trendline down and it is acting as support now (blue line on the chart) We see some kind of closing wedge pattern emerge above this support The pair rejected the lows of 0.70 a couple of times, and is supported below by red trendline now Resistance here comes from 50 and 100SMA, but these should be broken to the upside soon and the...
Please see annotated chart. entry - above high of low test bar stop loss - below low of low test bar target - at previous swing high or higher
View on EUR/AUD based on reasons shown on chart.
Pushing downward, price has retraced suitably into a location of resistance on the chart, a static level of ~0.7080 and the 8 ema closing as a high test bar/bearish pin bar. Price has rejected both the 38.2% and 50% Fibonacci retracement levels. entry - below low of high test bar stop loss - above high of high test bar target - previous support level near 127.2%...
In a recent and new upward trend a shallow retracement into a support area consisting of a horizontal price zone and the 8 ema. This area falls around the 38.2% Fibonacci retracement region which price has rejected giving a low test bar/bullish pin bar suggesting a long position. entry - above high of low test bar stop loss - below low of low test bar target - at...
Shorting GBP/AUD as today's high test bar has shown resistance to ~2.0870, the falling trend line and 50 ema all of which have lined up close enough to a tee. Stochastic and RSI also show bearish hidden divergence . entry - below low of high test bar stop loss - above high of high test bar target - at previous low or lower Visit my Trading Blog ...
Criteria meeting long set up: - low test bar close - support at ~4450 - trend line support (third test) - rejection of 200 ema - ascending triangle pattern entry - above high of low test bar stop loss - below low of low test bar target - at next resistance level or higher