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Aussiedollar

BIG LONG COMING ON AUDUSDAll market moves consist of an impulse, a correction and then another impulse. Our job as traders is to identify the first impulse and then the correction so that we can trade the second impulse. On the H4 above we can see a clear impulse move and then a 3 wave correction which has formed. It is not guaranteed that the bottom of wave 3 has formed but I have entered a position here. It is possible that there will be a 5th wave down before the break to the upside as indicated by the 5 red waves. I am however optimistic that the break to the upside will occur after this third wave reversal. There is also very large support on the monthly time frame and I believe that an interim move to the upside is very likely. Happy trading! Linton White JP Markets South Africa
Long
by Linton_White
AUDCAD BUY IS COMING I haven't changed anything since I did my last idea on this. I told those during BoC news trading to buy and sell at the 50% fib. I did not take the sell as I am a BUYER of AUSSIE for the foreseeable future and I will have to counter this with how CAD moves with oil as time goes on. I am studying the effects of cad and oil on audcad. I have heard playing the extreme prices on daily work well on this pair. We have hit the price zone I expected to come into play. NOW we are looking for the INV head n shoulder pattern I kinda threw out there on the last idea pre-move of BoC jump and drop wave 5. Understand that POINT D has 2 points it can always hit. D1 or D2 which is a farther fib extension and gives a higher probability of reversal momentum. Steps that have successfully happened in this idea.. - BoC rate was not changed as expected - Wave 5 reversal came into play after the breakout of the pennant. Point D2 was successfully hit giving the market a better discount on AUSSIE dollar. How to handle this trade: BUY STOP around D with a SL below the daily low of the wave 5 bell curve What you shouldn't do: Try to catch a falling knife. wait for a reversal confirmation or bet low with a high range of +/- ratio if you are a swing trader.
Long
by AschraM
Aussie: 11 Red Candles! Trump Giving The RestHelloo Aussie traders & forex friends, hope you're doing well guys! When was the last time we had 11 red candles? => I'm mostly trading crypto, also looking at stocks and commodities, I cannot see a time with 11 subsequent red candles. The Fed certainly didn't do what was expected (to lower the interest rates more), but Trump crushed what was left over. The fear of Trump raising the tariffs for Chinese imports & generally widening the trade war lets investors to think that Australian-Chinese trade could be heavily impacted as a result. 2 Options now: 1) Even though we have broken crucial previous support at 68 cents, we are still so hugely oversold, that some sort of reaction from the bulls is the most logical/probable action right now. In this case of scenario, we could e.g. still bounce up until 68,5 previous lows, and still reject and break lower. We can already see the Daily candle potentially shaping up to a Doji right now: so we could actually turn the 11th red candle into a bullish one! ;) 2) Should we against all logic/oversoldedness still keep going lower, we have the January flash crash lows of 67,2 Cents. In the big picture though, don't forget this: Conclusion: The most likely scenario is some sort of bounce from the bulls now at least. If this doesn't happen, the 2008 financial crisis lows of 62-60 cents will be activated. If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
AUDJPY 7/23/2019INV head n shoulder pattern rising wedge high high lower high 1HR RSI @ 28 30M RSI @ 22 - Price is ABOVE 800 MA on 30M & 1HR timeframe - Price is BELOW 800 MA on 2HR but above 200 and 100 MA A break of 76.00 will give us another leg up. If price fails here a re-test of 48.00 could come into effect. A stop loss below the head or right shoulder would be adequate for this trade depending on risk ratio and account size. GLHF and please like this idea if you agree! Entry: here SL: below right shoulder or head TP1: 76.00 TP2: 77.40
Long
by AschraM
Aussie At Crucial Support!Hello dear Aussie/Dollar traders, forex friends, hope you're doing well! ;) This is my first video to the AUD/USD chart: I'm gonna tell you about my background and why I'm doing Edgy. We have now arrived at the crucial previous bottom range at 68.5 Cents inside the Equilibrium to 70 Cents: The bulls need to see a bounce going on from this range. We're oversold on the 4H and will become oversold up to the Daily if we keep going down lower: This is a clear mean-reverting play. If the bulls don't manage to hold the 68.5 Cents and bounce from this zone eventually (not talking about short-term), we will look towards 2009 financial crisis lows. Have fun watching! ;) If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
AUDCAD BoC win. Now we waitawaiting trend reversal setup now that we caught the news impulse. Structure said BUY News said: NO CHANGE Result: AUD jumps directly to previous hourly high. Now this trade is paid for with an extra risk amount. Next we compound the interest earned on the news. :) I truly love trading. PS> next wave can take us a bit lower. Wait for the break of the channel and a kiss goodbye before entering a new position. As always trade with risk management. I hope some of you caught some of the profits on this news release! Good luck out there traders!
Long
by AschraM
Aussie/Dollar: 70 Cents Rocket Launcher Towards 80 Cents?Hello my dear Aussie-Dollar traders & Forex friends, hope you're doing well mates! ;) First of all, let's have a look at the last analysis before I take the drawings away: => We can see that the Double Bottom saw follow-through, but obviously we're still grinding at the 70 Cent psychological, with the crucial resistance of the previous Descending Triangle at 0.704. => We're currently rejecting from this zone. If we break the 70 Cents down, we will look to build a higher Low compared to 0.685 on the weekly. Otherwise we will look towards a bounce from 0.685 On the other hand, if we can keep the 70 Cents range, we could look towards a potential break higher into the low 70ies. I wanna bring the monthly chart again to your attention: The 0.685 is a crucial potential Double Bottom on a much bigger scale , with the first touch back from 2015/16. =>If the bulls fail the react here, they could become toast and fall towards the 2009 lows. If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
Aussie to gain in tandem with goldThe Aussie insists on remaining close to the upper band of the ascending channel. As the world markets feel edgy about geopolitical tensions that make investors flee to golf, another rise in the AUD is likely to take place over the coming days or next week. Another factor to take into account is expectations of an at least 25 basis point cut in US federal funds rate later this month as Federal Reserve gathers for its FOMC policy meeting. Given the current circumstances, a return to the upper band at 0.7075 will be followed. Still above we can watch 0.7100 depending on the course gold prices take. 0.7030 can be designated as a stop loss level if the pair moves downward.
Long
by LimitMarkets
7 - AUDUSD - FX Majors | Reversal & Impulse | July 2019AUDUSD labeled within a Double Three Bullish Correction, within a (W)(X)(Y) (pink). Patterns: - Intermediate (W) (pink) - Zig-Zag - Intermediate (X) (pink) - Bridge / False Break-out - Intermediate (Y) (pink) - Minor degree ABC (orange) sequence - Minor A (orange) - Leading Diagonal - Minor B (orange) - Expanding Flat Minor C (orange) has started and about to finalize Minute i (green). After the correction in Minute ii (green), a rally should begin in a five-wave sequence.
Long
by EW4X
7
China GDP Numbers: THE Reversal for the Aussie?Next week I will be focused on AUD/USD for a few reasons. Although straight forward data such as Australian employment change and business confidence numbers on Thursday will surely have an impact on the Aussie, what I'm more focused on is the systemic impact that Chinese GDP numbers will have on Monday. Monday morning, China's Q2 GDP, as well as a host of other important readings for June, will hit the wires at 02:00 UTC. It's important to understand how dependent Australia is on China. They are the largest destination for outbound goods and services for Australia, accounting for approx. 1/3rd of every dollar that is exported each year. The record-breaking period of expansion seen by Australia is directly accredited to its dependability on China. For example, this was in direct correlation to China giving loans --some of which were interest-free-- to Australia during and after the Great Recession; a term called "debt-trapping diplomacy" (Chan 2018). Australia clearly has benefited from this, however, it also has its negatives that I believe will prove to be detrimental to the Aussie-dollar beginning next Monday if China's GDP numbers print unexpectedly low. The Aussie will be the direct and most significant target for these numbers and I can assure you with a guarantee it will move the candle. Fed expectations driving the Greenback lower over the last week is old news and eyes will be shifted back to 'trade wars' between the U.S. and China, growth, and earnings from U.S. equities. I will be paying close attention to AUD/USD, as a deterioration of Chinese GDP could be the catalyst for one of the cleanest long term reversals seen by the Aussie since 2017. An extended bear trend, a clear descending wedge, an inverse head & shoulder (short term), and a 200-day moving average looming above are all technical reversal formations that I have my eyes on. This is the same setup that we identified earlier this summer with EUR/USD in which is broke to the upside after a 6-month decline. Can this be the catalyst for an AUD reversal? It will be very tuff to trade this pair following Monday's GDP number, but I am nevertheless eager to trade the reaction and not the news.
Long
by UnknownUnicorn3442968
AUDCAD harmonic structureSimple idea..with price in a discounted favorable spot. We seem to be close to the 127 fib extension with a bullish harmonic XABCD pattern. I see a reversal coming soon. I have entered for a 1:2 risk ratio here on the FX account. We are at a new low for daily and we are pretty far down on weekly as well. Have a look at most of the aussie pairs. I think you'll find a lot of good setups coming our way! Price is currently in a pinching pennant. I would love for a breakout INV head and shoulder reversal confirmation from here. A solid break above the high of June 4th (.93 zone) will surely take us back to point C. :) I am aussie strong for a few weeks
Long
by AschraM
2
AUDCHF 7/9/2019 Similar AUD structures. I am playing off the wick on the right from Jan. If CHF continues to get strong price can exceed to a full fib extension before a rise. I see it has already finished a harmonic cycle and could now be entering an ABC retest and trend continuation into a new HIGH price but below the 800 MA. Price has broken out off the bottom of the angular range and just above the 127 fib ext. on a new impulse wave after the correction we had from .72 to .67 it didnt take long for price to get this far down. It would be a nice ride back up if Aussie continues some quarterly strength I hope you enjoy this idea. I am already in from the reversal at .6835 with a tight break even stop loss. I have pulled half my profits out of the market already and awaiting TP zone.
Long
by AschraM
2
AUD/USD - SECOND DISTRIBUTION PATTERN FORMING - HEADING LOWER?A clear second distribution pattern is forming. We have selling into the moves higher on the recent BC and ST by the looks of the volume. We are also approaching a re-test of the AR in the first larger distribution pattern. The downward trend that has formed also indicates a re-test approaching. Watching this closely for some reversal signals to get into a longer term short trade. Do your own research and good luck.
Short
by AussieWyckoff
5