ASC Asos Short Opportunity Price action analysis identified LSE:ASC (ASOS) downtrend continuation and short opportunity. Reversal pin bar candle trigger, confluence with; rejection of falling trend line, rejection of 50% fib retracement, rejection of 50 WMA and rejection of previous support becomes resistance.
Pin Bar
AUDUSD - STRONG DROP - EXPECT COUNTERATTACK After eleven days strong drop, Finally AUD printed a pin bar. 0.68 level is the lowest level since January 2016. Probably Counter attack will come at this point. Price could break hourly Down Trend and test Daily down trend. Chase for coming candles.
Entry Long : 0.68279
Stop Loss : 0.67443
Take Profit 1: 0.68843
Take Profit 2: 0.69543
This is not an investment advice. Investment is your own choice.
AUDUSD AT 80% !!!
Nice pinbar formed on Friday at 80% retracement. I think it is a good time to buy against otherwise strong short term bearish move. It came out of Elliott triangle, so I assume it is the end of the cycle. Price action in channel is choppy and at the lower trendline, the last move is extended. The price should hit T1 soon.
Pin bar on supportBuying at market price @ 0.66069 with
# SL below pin bar @ 0.65804 and
# TP around next resistance @ 0.66993
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Powerful buy signalBuying at market price 0.65437 with
# SL below the pin bar @ 0.65108 and
# TP at previous swing high @ 0.66148
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Happy trading :)