Straight to the point. Market repeats itself and AUDCHF on 4hr timeframe is in a situation.
That situation is a downtrend. A descending channel that could lead to a continuous bearish trend.
Reuters reports dollar retreats from 2 months high.
An interesting observation and looking at the charts, we can see a text book chart pattern.
Downward trend and a retest to a significant level.
We understand a fake out from the descending price could happen.
Watch out. Comment what you think
According to TradingView news, th exchange rate is looking into a fairly calm day with no major economic news scheduled ahead.
A possible bearish shift is at the door; knocking using a trend patter.
Comment what you see
Australian dollar against Canadian dollar is a fascinating pair.
And from historical chart patterns, we can conclude that AUDCAD is in a descending channel.
Our bias will be to follow the trend down and exit early.
AUDJPY is positively correlated to AUDUSD, however it’s not 100%.
In addition we stay away from indecision in the market such as RANGES.
If you’re looking to trade then risk small.
We think price will get to 97.550; comment a price point you think AUDJPY will get to.
An article by Jack Denton for DOW JONES NEWSWIRE, touched important numbers on cryptocurrencies, on timing and at which prices dropped by 1% in 24 hours.
Brilliant observation.
Using some chart patterns, and a bit of luck.
Warret Buffer once said “if it’s going to return over 20%, don’t buy it.”
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GOLD downtrend for weeks seems to be slowing down or inducing traders to invest in a reversal.
However the bias is follow the trend, follow where the money is.
Wick in opposition direction indicates ranging condition in a downtrend.
4hr downtrend. What do you think ?
Currencydaddyx only uses three timeframes. 15mins, 4Hrs, 1D for analysis purposes.
With that established. GBPUSD is bullish and has been so since, March 2023 and this is a good time to buy.
Bias is Long trades because GBPUSD is in a bullish trend.
GBPUSD 7 days long range on 4hr timeframe, started on 1Aug and is accumulating to push towards bullish target or...
