AUDUSD ready to resume decline?AUD/USD appears poised to break support at 0.7171, which may set the stage for a run at the 0.70 figure.
A daily close below support might serve as confirmation that December's corrective upswing has ended and the structural decline defining much of 2021 has resumed.
A dense block of congestion-area resistance runs up into 0.7343.
Aussiedollar
AUD/USD (AUSTRALIAN (AUSIE) DOLLOR) UP MOVE BEFORE DOWN-TREND AUS/USD (Australian Dollar / Aussie Dollar) will go upside around $0.729 to finish the (B) wave as an ending diagonal and after that, it will down for wave the (C) of the ((B)). We can clearly see the formation of the ending diagonal (falling wedge). We will down after ending diagonal finish and we can see a new low below $0.699 in the future.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#AUD/USD #AUSSIE #audusd
AUDUSD 02/11Looking to short AU from 0.74500
4H timeframe confluences:
- Intraday bullish momentum = ended, due to the break of ascending trendline
- Moreover, market just printed a LL
- There could be a push higher to 0.75000 region before the sell off, therefore will watch price action when market reaches the 0.74500 selling zone for short confirmation
AUSSIE DOLLAR - LONG TRADE IDEA - AUDUSDIt appears that we have confirmation that Wave (B) has completed for this correction.
I will be targeting at least double the length of the move since March 2020.
Entry: At Market
Stop: .71621
Target: .94 cents
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
AUDUSD Long Small Time Frame Trade ideaAUDUSD after falling in huge amount is now looking in an accumulation zone for a small time frame.
A long entry on current price can be made for low risk with a tight stop loss.
Entry : Current Price
Take Profit1 : 0.74522
Take Profit2 : 0.74721
Stop Loss : 0.74208
Aussie Yields Exploding!· The prediction I made of Australian Yields needing rebalancing earlier in the year points to slightly above average AUD buying throughout 2021 finally came to fruition.
· NZ and AU 10Y Yields bounced strongly first after the sweep of lows. The analysis of the starting position showed us that the control now exists on the bid; because we know that it is the path of least resistance, so the rule is; when the market is strong we are buyers and when weak, we are sellers.
· Commodity shortages/outperformance means that the signal is strong to stay long AUD and reduce hedges, adding to domestic AUD exposure.
AUS-USD (uptrend)Quick Trading Journal Entry:
Uptrend expected, to the upper line on the orange rectangle-condensed trading zone (resistance at the blue horizontal line, 0.76417 ).
Major resistance at red horizontal line (0.78422).
Expected peak of the uptrend, around: October 31st , with the relative strength index peaking at the 80% marker. The R.S.I also broke out of a long downtrend (green line). Breaking above 0.78422 would be unlikely , since the R.S.I at the point would be overbought, above 80%. Divergence is a possibility, with a peak around November 10th.
Trading is expected to stay within the purple parallel lines though, for both the Price chart and R.S.I Chart.
The pink circle on the relative strength index could predict an "M" bearish pattern signifying a possible immediate downtrend.