AUDUSD PRE-MARKET ANALYSIS MARCH 14, 2021
Updated
OVERALL TREND: BULLISH ON DAILY AND WEEKLY
As we can see on the 4H TF, the market is at a corrective movement following a slight uptrend across a major key zone.
Taking into consideration we broke into newer lows shown on the vertical zone.
We have 3 options to go from here.
Either price hits and retests zone 1 which acts as resistance to push the market down, breaking the trendline towards the downside, and hits the support level zone 3 which is a strong support level, and continues bearish.
Depending on where the market goes, we have a short opportunity at key zones 1, long opportunity at key zone 2, or both a potential long or short entry at key zone 3, depending on what price shows at the 1H TF.
As we can see on the 4H TF, the market is at a corrective movement following a slight uptrend across a major key zone.
Taking into consideration we broke into newer lows shown on the vertical zone.
We have 3 options to go from here.
Either price hits and retests zone 1 which acts as resistance to push the market down, breaking the trendline towards the downside, and hits the support level zone 3 which is a strong support level, and continues bearish.
Depending on where the market goes, we have a short opportunity at key zones 1, long opportunity at key zone 2, or both a potential long or short entry at key zone 3, depending on what price shows at the 1H TF.
Comment
a break out and retest on the 1H TF, but could be a fakeout on the 4H.Still waiting.
Comment
A positive confirmation for a bull run. fakeout confirmed.Comment
Reversal in price. Going down to our Zone 3.Comment
A potential retest of our trendline and reversal to the downside.Comment
Potential break into higher highs with an inverted heads and shoulder pattern.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.