elEmo

elEmo

Also there's possible reversal with strong confluence with fibonacci levels.

elEmo

AUDUSD shows price compression, and pennants are most likely to be continuation patterns. But for reversal scenario, there's confluence with fibonacci levels within those previous resistances.

elEmo

Entry Price arround 0.95292 Stop Level arround 0.94784. Profit Level 1 has confluence with 38.20% fibonacci retracement, which is also a previous resistance zone, now possibly turning support. Profit Level 2 has confluence wiht 61.80% fibonacci retracement, which is also a previous resistance zone, now possibly turning support.

elEmo

Entry Price arround 1.12070. Note: Previous hammer candle might indicate strong rejection to this zone. Stop Level arround 1.12502. Profit Level 1 has confluence with 38.20% fibonacci retracement, which is also a previous resistance zone, now possibly turning support. Profit Level 2 has confluence with a 50.00% retracement, which has sense from a Gann's...