If we end up getting a LLLC here on the EURAUD, my prediction for the next place that we'd see some buying pressure at is down at the 1.5050's-1.4950's level. As a buyer, that's where I would look next if I'm interested in trying to catch a pullback. If I'm a seller, then I'm looking for a retest of previous structure & a chance to hop on the downward move in...
1) AB=CD pattern completion at 1.1960 (1st chance to short) 2) Possible BAT patttern at the same level -also a DT (2nd chance to short) 3) Break of 1st minor trend line (3rd chance to short) 4) Break and retest the mayor trend line - We are in an uptrend so maybe the pair to check the mayor trend line and continue upward Each trading setup has different rules...
FX:AUDCAD Safe Trades;
TP1: 618.76 TP2: 586.73 TP3: 554.69
FX:CHFJPY Sell the breakout, buy the patterns. Broken Structure; Nice cluster below the 127% extension: 61.8% of XC; 141% ext. ab; 161% ext. bc; This will complete an ab=cd pattern. Safe Trades;
Fun with Fibonacci! Fibo here, Fibo there, Fibonacci everywhere! I have found the 0.382 level important for change in trend. lets see how it will works
In my previous post on EURNZD i posted the potential of a big move in the coming weeks. After the breakout price is in a consolidation and it's about to complete a bullish ABCD pattern with D point at the broken long term downtrend. This pattern has great chances to start this upcoming rally. For my previous analysis on EURNZD click the link below this post..
Red MA (EMA50) has a positive slope; bullish. RSI, OBV, and MACD also indicating bullish action. If looking to invest, at least let it retest EMA50. Obey your rules.
the bottom of the bullish channel. OBV slowly diminishing and RSI has some room to find support. Recent bearish MACD xover while in a macro marginally bearish MACD trend. Even though SMA50 (Red MA) has a positive slope, prior signals warrant caution near term. Let it pull back some. Discounts entries are ok. Be patient. Let others do the hard work first; with...