AUSSIE DOWN UNDER - 5 Factors of Confluence
After breaking through the 1.05 support level on the daily Chart, price came up to retest it and found resistance.
It was also met with a bearish slap by the 50EMA line and the 0.382 Fib Retracement level.
At this point a nice doji reversal candlestick formed and overall price is making the long way down after a triple top formed between September and November of 2014.
A good stop loss here might be 1.055, just above the 0.5 Fib retracement level.
It was also met with a bearish slap by the 50EMA line and the 0.382 Fib Retracement level.
At this point a nice doji reversal candlestick formed and overall price is making the long way down after a triple top formed between September and November of 2014.
A good stop loss here might be 1.055, just above the 0.5 Fib retracement level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.