Sell here market aiming 0.748
Protect last high
After which we will find a long position.
T1 100% retrace of falling wedge 0.758
T2 last high 0.78
Protecting last low to be created.
USD/AUD is moving within an uptrend. This Pair has formed a 5 wave corrective Structure to the ascending Trendline. Now I'll wait for a completion of this 5 Wave Corrective Structure and enter my long Position after a breakout to the upside.
Trade safe, Daniel
Likes and comments are appreciated and would keep me motivated
Over that past month USDAUS has been quite volatile and with recent trends of the month shows that the current price is really high compared to past Trends so My Prediction is for short. @ 1.3180 once it reaches this figure I think you'll find an increase in price and market to recover slightly but not by a huge margin. Expect more Volatility in this Market so be...
AUD/USD is incredibly close to the long-term resistance and profit potential is becoming limited for bulls. I'm looking to short soon once I can see a clear breakout from the rising wedge. Also, my price target will be .745 to .748, for I believe this will retest the 200 day moving average.
Key Points
- Rising Wedge (Bearish)
- Double Top (Bearish)
-...
Repeating patterns all over the place.Easy 3- 4 to 1 trades on this pair. Very close to major trend lines from higher time frames now. No guessing , trade your patterns.
If I have multiple confluences, I'm in long or short. I have a short bias right now. Although the trend long term is bullish to me.
Patterns ,Fibonacci, Mandelbrot set...hand in hand
At the start of 2016 the PBOC began aggressively devaluing the off-shore Yuan against the USD, imo in an attempt to start the year with a competitive export:import advantage - with the aim of making 2016 a headline "come back" year for China amid the growing GDP growth and Credit bubble worries.
As a result Equities across the board sold-off (-8.5% in a few...
High test of .7500 being rejected, bearish momentum away, another high test on the previous 4HR candle.
Looking at the FIB retracement down to 0.618 - although price still has S1 and S2 pivot point to break through.
the MACD is breaking below the 0 line and RSI shows room to sell down coming off the recent over buying.
Got some news coming up to trade...
Short- and long-term topping formations in addition to continued dollar strength presents a short opportunity. Also, the negative correlation with USDJPY, which has broken resistance to the upside, further endorse this trade.
We have seen a great move from this currency pair since September 2014, I have only been trading for the past 8 months now but I always start my analysis of a currency pair with the MONTHLY time frame. I noticed a very clear trend line and very clear higher highs and higher lows.
Currently USDAUD has come back to the trend line, so I moved down the time frames...
Looks like classic Head and Shoulders
times 2
Support correspond with Fibonacci level
Look at falling volume
But BE CAREFUL, It could be triangle as well which is going to break upwards
Either way I watch it to enter trade - I learned that after heavy news, it pays to be extremely cautious
The strong U.S. dollar since late summer, on the back of a possible Fed Funds rate hike later this year and on an improving economy, has meant weakness in many other currencies across the world. This combined with a bear market in many commodities has directly resulted in a sluggish Aussie dollar.
USDAUD has been trading in a well-defined uptrending channel since...
The price would break the red trend line in my opinion. It would then enter the blue zone where we might have an sideways movement, however i think the next target should be 1.3000, as i expect a strong bullish move after the blue zone.
