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AUDUSD - DESCENDING PARALLEL CHANNEL Good Afternoon People... Today, I will be providing Technical Analysis for the AUDUSD To begin I would like to provide a brief 'Top-Down' from the Monthly through to the H4 Although, being new to TradingView It is not possible for me to provide the necessary chart images for all the timeframes utilised. Currently, I am only permitted to provide 1 chart image - Therefore, I will provide the Daily as I execute the majority of trades on this timeframe. So, I am afraid you will have to use your imagination for the other timeframes - Unless you message me and I would be more than happy to provide :) Now that's out the way - Lets get stuck in... Looking at the Monthly Timeframe, I have marked out a Bearish Trendline - This connects the 2 highs This particular Trendline is also respected on the Weekly Timeframe Moving on to the Weekly - I have identified a Double-Top What is quite compelling is that, this Double-Top met with the aforementioned Bearish Trendline and Horizontal Resistance Now that's the type of confluence us traders are looking for right? So, yeah - We have that, and the AUDUSD dropped in style - Printing Lower Lows/Highs for several weeks Furthermore, we can see that price pushed through the 0.726 support zone and last week returned to the zone and rested with as Pin-Bar With this bearish connotation in mind - I moved down to the Daily Timeframe and began to look for selling opportunities Instantly, I identified a Descending Channel Following this, I marked out additional S&R - identifying the confluence of the support @0.699 Price has recently bounced from this and began heading north This being marked out as an Ascending Channel/Bear Flag - Which is also respected on the H4 Now this is where it becomes interesting and may I say exciting .... For me - I have my eyes on the confluence of the multiple resistance at work @1.7316 [ Resistance of Horizontal Level, Descending Channel, Ascending Channel and not to forget the Weekly Pin ] This is where I will be looking for short opportunities in the near future... Alternatively - If price breaks down below the Ascending Channel/Bear Flag Support - I will still be looking for price to return to the confluence @1.7316 zone Well that's about it for this one guys - I will be providing updates And, if you need the Monthly, Weekly & H4 timeframe images - Let me know or just leave a comment for them and ill see what I can do Thanks for tuning in - Its been a pleasure
Short
by fxhole_
2
GBPJPY OHLC (SELLS) MONTHLY STRUCTURE (Jan 2022)GBPJPY OHLC (SELLS) MONTHLY STRUCTURE Please support this idea with LIKE if you find it useful.. Happy New Year.. Monthly Structure for GBPJPY in a Daily timeframe is OHLC (Open High Low Close) price setting up for monthly sells. Current Priceline is also within the sell pressure zone. Patience, we currently waiting for a TDI cross. Priceline must cross below bloodline to confirm the presence of sellers in market. Caution as this is the open of a new year hence price is bound to consolidate. After the daily TDI cross plays out, switch to H4 and be on the lookout also for OHLC and a TDI cross to confirm sells before executing trades in M15. Trade with Caution. Wait for valid entries. Please support this idea with LIKE if you find it useful. P A T I E N C E + D I S C I P L I N E
Short
by PeanutButter
Eurchf Sells 1.07700eurchf: currently waiting for price to come up to my "line" here at the 1.07700 region and candle wick here before looking for sell opportunities. This does not mean to sell right away when price reaches here. Failure for price to reach here then i would wait for further price action 👁 2 simple lines for this analysis and trade setup for me personally and setup spotted and noted within 3 minutes. Reduce the confusion, complexity and know exactly* what and where you are looking for in the markets for entries. Thus, if price is not* valid at your region/zone...then it should be a trade avoided and not a trade taken...
Short
by benson_fx
Gbpchf Sells 1.27000gbpchf: watching for a spike and wick here to my yellow marked region at the 1.27000 before looking for sell opportunities here. Also where the 61.8 fib level is at. This does not mean to sell right away when price reaches here 👣 One thing to note with fib...fib is just an extra* confirmation for me and is not used in every* single trade setup. Know when to use it and apply it on the charts for a "projection" of the desired move and as an extra confirmation..
Short
by benson_fx
GBPCHF OHLC (LONG TERM SELLS) YEARLY STRUCTUREPlease support this idea with LIKE if you find it useful.. The yearly structure for GBPCHF is OHLC(OPEN HIGH LOW CLOSE) long term sells. Huge Bearish divergence from 01 May 2019 to current market price. Patiently wait for a TDI cross to indicate the presence of Sellers in market and Target long term sell runners to 1.21966 (2021 Yearly Open) Trade with Caution. Wait for valid entries. P A T I E N C E + D I S C I P L I N E Please support this idea with LIKE if you find it useful..
Short
by PeanutButter
GBPUSD POSSIBLE YEARLY STRUCTURE OHLC (SELLS)Please support this idea with LIKE if you find it useful.. GBPUSD POSSIBLE YEARLY STRUCTURE OHLC (SELLS) Possible Yearly Structure for GBPUSD appears to be OHLC (open high low close) which means we are going in for long term yearly sells once price finds a strong resistance with current monthly candle closing with TDi Priceline crossing. Priceline must cross below bloodline in the Monthly time-frame to confirm the presence of sellers in market. Potential Target after this plays out is 1.36882 (Open of the year 2021). Bearish divergence also starting from 1 Jan 2018 till current market price, perfect confirmation we will be going in for sells soon. Priceline is still Above bloodline in the monthly time-frame for TDI, Current monthly candle still has Bullish presence (Check with Heikin Ashi). Waiting for a bearish TDI cross in Monthly Timeframe for long term Sells. Trade with Caution. Wait for valid entries. P A T I E N C E + D I S C I P L I N E Please support this idea with LIKE if you find it useful..
Short
by PeanutButter