A retest of the broken previous support now resistance trendline puts us in a Bearish mood. Look to sell this pair on a break of the trendline. Ideally we get a decent pullback before making new lows and completing a ABC-D pattern.
A quick look at this pair this morning and I have highlighted a high probability trade backed up by many confluences. Aggresive traders can sell now, conservative traders can wait for the price to break back below the kumo cloud and sell on the re test TP: 0.95369 SL: 0.95831 RR: 1.13:1
Butterfly harmonic pattern has been formed on the AUDUSD daily chart. This comes following the completion of the 5th wave impulse. Good risk/reward also
Last week I published an idea that this pair would be looking to retrace down in accordance to the wave count it was following, unfortunately in that example the price didn't reach our entry level but I believe we are presented with an excellent trading opportunity here. This pair has now retraced down to a 38.2% fib level completing the 4th Elliot wave impulse...
The price has meandered down to test and fail at the 61.8 fib level (0.70031) which is coupled with a level of support found at 0.69908. I see signs of a newly formed ABC formation which could lead to the possibility of point D being formed at the 161.80 fib extension (0.7345 - Target 3 I am using the andrews pitchfork tool to illustrates how the price will...
Thanks for joining for my first published idea onTrading View. Here, I am looking at AUDUSD, particularly on the 1hr chart. Prices closed on Friday around a strong level of support with a hourly trendline providing the weakened bulls with some technical hope which is likely to push this pair initially higher, hopefully to our sell zone (B), which will complete the...
Off the back of the Federal reserves interest rate hike decision last year, this pair entered a long period of consolidation before finally breaking to the upside during the beginning of Feburary and proceeding to complete an Elliot wave cycle. A possible imminent Bearish run presented itself during the Friday trading hours as the price broke through the Kumo...