the chart basically says it all. watch lower time frame for confirmation of rejection from price level 0.793 or from the 0.618 retracement level
Looking for a short after price formed multiple trendwaves to the upside ( at least 5 in this case) now we are almost at the daily falling trendline as we see....all we need now is a shift in momenum ..i wanna see a abreak lower ... at least 2 possible entry areas for the patient trader here ...waiting for price to break n close the 2 support areas ( black lines)...
Looking like this might be a 3 wave correction for Wave E of the possible triangle on the Daily! If we get the channel like the one on GU and countless other instruments it might be a good sell setup in formation!
-Trend Resistance -4h 200MA -Possible rejection inverse hammer Could be a good short opportunity.
Looking short on this pair, we had a week USD previous week, all geo political reasons. However, we have price rejecting at the H4 61.8% in line with the daily + Weekly Bearish Trendline. Our downside targets of 0.73450 (Target 1) then possibly 0.7200 (Target 2) (BEARISH ABCD FORMATION + POSSIBLE DAILY COMPLETION OF 5th IMPULSE WAVE) . Once each target is met...
sell limit at 0.7650 Stop 0.7730-0.7740 Target 0.7570/0.7530/0.7510
Hello traders. AUDUSD has been in a consistent downtrend throughout the entire month of may thus far. It will wake a significant move to reverse the weekly candle and I don't think Friday's U.S. retail sales or CPI will be able to do that. As such, the risk is certainly still to the downside. If sellers do step in and price manages to break out of the wedge to...
Good morning traders. Here is the update on the daily key levels for AUDUSD. As you can see the levels remain the same as price consolidated throughout most of the day yesterday. S1 was not broken, it was respect to the pip and held throughout the entire U.S. session. R1 was never even contested. The focus still remains to the downside, however price action...
Waiting for a breakout from the S1 pivot line with TP near S3 and SL a few pips above S1. This is in line with the recent recovery in USD, and not-so-good news in iron because of current low demand in China which impacts AUD as well, not to mention its recent retail sales report. But a recovery is also possible from its current Nov low resistance since RBA is...
High traders. As you can see by yesterday's key levels, price is focused on the downside. Price broke through s1 shortly after the open, broke through s2 overnight, and has since found nice support at s3 to the T. Going forward the focus remains to the downside until proven otherwise. A break below what was s3 and now s1 at .7331 will be required to put sights...
AUDUSD is currently trading below s1 at .7400. View remains neutral however until we get a sustained break below s2 at .7368. If price can manage to sustain itself below s2 then eyes go down to s3 at .7331. Pressure remains to the downside below r1 at .744. Enjoy!
This is my first idea im publishing publicly :) Im basing this idea from pattern formation and not news. Previous support and resistance has held so has the channel walls stability ENTRY PRICE 0.75194 STOP LOSS-20 PIPS AT RESISTANCE LEVEL- 0.75400 PROFIT MARGIN IN PIPS : TARGET 1-(29 PIPS) TARGET 2-(48 PIPS) JUST UNDER DAILY TRADE GOAL OF 50 PIPS :) PROPER RISK...
Already opened position, but figured I'd put a chart up for it as well. Short.
With this channel I produced on the 4h chart I anticipate the Aussie/Dollar pair to continue down to at least the red star icon. Patience is key in these types of situations. It showed promise when it bounced off the top channel line at .766 late last week. Keep an eye on this one in upcoming weeks. Good Luck! Yums
it is follow able setup because weekly candle sporting this short trade for more bearish, kindly give feed back Thanks
usd pairs seem to be getting stronger short aud usd
AUDUSD triangle watch the breakout, in daily we have a bearish cypher in lower timeframe I see a triangle in h4 it may touch 618 or sell the breakout