Here as you can see audusd has broken out and i'm hoping for a slight retest to get a better entry. I am confident about this break out as audusd is in a significant downtrend making it a continuation pattern
Here is my entry requirements for the long term gold trade I just uploaded. As you can see, price hit a bottom and then started to make higher lows and a break above structure will let us see higher highs. The ideal situation for me will be for price to break above structure, pull back (which is when I will enter) and then continue upwards. Lets see what happens.
So Gold has now reached a very significant monthly zone where we could see a reversal. Price is also at the bottom of a descending channel, however I will not be jumping straight into this as I have some conditions to meet on lower time frames before I trigger my entry. Check out my next post for my 4hr analysis and entry conditions.
I recently posted the completion of the bat pattern on GBPUSD. My condition for entry on this pair will be for price to break out of the descending triangle and descending channel it is currently in, I will wait for a close above on the 4h time frame.
Here we have a massive bat pattern which has finally completed. We also can see a downward sloping channel where price may be reacting off of support.
Oil is currently at a very key level. The 2008 financial crisis support level. Price has been above this level since 2004 and this level was also previously resistance. Will we see a rejection? My point of view is yes.
Potential trade for next week. - Breakout, retest. - 200EMA 50EMA Crossover - Strong support, now potentially resistance
- POTENTIAL SHORT - XAUUSD - BREAKOUT RETEST -
AUDUSD - POTENTIAL SHORT Confluence - Bat Pattern - Triangle wedge pattern - Continuation pattern - Good risk reward
Confluence - Downtrend - Breakout retest - Bat pattern - Supply zone - Previous support
EURNZD - GARTLEY PATTERN COMPLETION
Here with a nice Gartley pattern completion on the Aussie Reasons I am not taking this trade: 1. We have just broken out of quite a significant downward channel which started from below meaning that there is a high probability that this is a continuation pattern. 2. If you go over to the daily chart, in my opinion the AUDUSD is currently bullish as we have...
- Breakout retest - Price is at structure - Rejection off the 50 EMA - Continuation
- Breakout - Continuation pattern - Good risk reward ratio