the detail is shown in the above Idea. I made this Idea based on Candlestick Analysis and Harmonic pattern. Bearish Trend of AUD Continues. AUD buyers try to reverse the AUD trend in region F 0.618-78.6. it is much more probable that AUD Continue bearish trend toward level 1.27
AXY took resistance from the 6M hammer level, now at possible 6M support level , trying to give 12M and 6M levels here along with weekly in comment section
Swing Low After Taking The SSL+The bodies Of The Candles Respacted The Imbalance Area. That's May Send Price More Higher ☝
AXY H1 Renko down trend with clear BCD, EMA 55 will guide the downtrend
AXY H4 Renko Break of uptrend, new trend not formed yet, clear BCD
We see a reversal pattern forming for the australian dollar. The main driver for this is china opening back up trades routes. Australia is a massive coal exporter and its biggest buyer was China who for some time now had not been doing business with Australia however this is now all changing as China look to green light the coal exports again. Not only this but...
for few months, So the strategies are to look for buying opportunities
Bullish Indicators: 1. Daily Higher Highs and Higher Lows. 2. Daily Rising Trend Line Intact. 3. Hourly Higher Highs and Higher Lowers. 4. Support Zone.
Strong significance of Fibonacci retracement support level. Appearance of inverted hammer at bottom. Appearance of green candles after inverted hammer, Bearish Trend line broken. All this indicates bullish trend initiation. Awaiting dow theory validity for trading.
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Disclaimer on! It tries to break the resistance after FOMC made a statement yesterday. But it fails to breaks this resistance it could be back to the Support again. As FOMC said it depends on the inflation situation in few weeks. What do you think?
very strong setup I'm glad share this with you guys... helped by priceaction and RTM & ICT METHODS & ORDERFLOW & SMARTMONEY CONCEPT and S&D METHODS sincerely BEARBOURSE