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Australian Dollar / U.S. Dollar

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AUDUSD trade ideas

AudUsd Trade IdeaAnother bearish pair and set up I'll look to get into this morning is gonna be AU. AU is extremely bearish on all time frames. Price is currently approaching a LH at a solid level of resistance as well so going short from that level would be ideal for me. I'll personally be waiting on lower time frames to flip from that level before looking to get into any shorts. We'll see what happens. I'll be looking to target the lower low with stops just above structure and the resistance level.
Short
by OfficialJ23
Potential bullish reversal?AUD/USD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 0.6586 Why we like it: There is a pullback support level that is slightly above the 61.8% Fibonacci retracement. Stop loss: 0.6530 Why we like it: There is a pullback support level that aligns with the 127.2% Fibonacci extension. Take profit: 0.6646 Why we like it: There is an overlap resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
I'll Long AUDUSD If This HappensI've been following AUDUSD closely, and since February 2021, we've been in an extended downtrend on the monthly timeframe. However, for the first time, we saw a break of structure (BoS), as the September monthly candle managed to break and close above the previous monthly LH. This break of structure is notable, as it could indicate a potential shift in the long-term trend. Though the impulsive move that resulted in September's break of structure wasn’t the strongest, likely due to price respecting the month-long trendline, it'll be interesting to see if buyers can defend price so that the current monthly HL isn’t taken out by sellers. While we’re seeing a large sell candle in October, buyers can still be considered in control as long as the monthly HL remains unbroken. Let’s move to the weekly timeframe to see if any interesting price data emerges there. On the weekly timeframe, as seen in the chart above, the previous weekly HL has been broken meaning sellers are gaining control over the buyers as they were able to break and close below the previous low. Not a single rejection. But does this mean we should all scream sell and short the life out of AUDUSD? Well, our business is not to be on the sell or buy team, our concern should be to make money regardless of the market trend. To do that, we need to look for patterns that suggest the probability of one outcome over another. That’s exactly why we’re doing this top-down analysis. So far, from the monthly timeframe down to the weekly, nothing has clearly indicated where we should buy or sell, even though we’re seeing strong red impulsive candles. Next, let's check the daily. Now, take a look at that pattern on the daily timeframe. What pattern is that? A bird pattern? Or maybe a plane pattern. (I'm Joe King.) It’s actually a falling wedge, a reversal pattern. But does that mean we should start buying AUDUSD? Not yet. It means we should start watching for a change in structure, perhaps on the 4-hour timeframe. Only then should we look out for our entries. Still no trading decision, so let’s check the 4-hour next. Please stay with me. Still no trading decision on the 4-hourly, but there’s a plan. If price can impulsively break the 4-hourly LH at 0.66611 and stays above, then I’ll be looking for a buy on a pullback, probably on the 1-hour timeframe, where I typically look for entries. But… what happens if price continues to trend down? Since I trade based on structure, I’ll be watching for price to pull back after breaking and trading decisively below the weekly HL at 0.66220 . One key lesson I’ve learned in my trading journey is that it’s not just about price breaking a zone; it’s about how it breaks it. From the weekly, we saw price break the weekly HL at 0.66220 . But as we scale down to the daily and 4-hourly, the pattern behind this break hints at a possible reversal. What are your thoughts on AUDUSD this week? Please share in the comment. My trading rule is simple, don't take position based on what you anticipate price will do, take position only when price does what you anticipate and presents you a point of entry.
Long
by youngbossy
AUDUSD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Long
by ShahedZare
AUDUSD Bullish ScenarioThe price level of 0.66225 is broken, we can expect AUDUSD to turn bearish until it reaches the demand zones on the chart. After it touches the demand zone, we’ll monitor the market structure, looking for a change of character on both lower and higher time frames. Entering a short term or even long term buy setup could then be suitable, but only with confirmations from the higher time frames. Specific explanations are provided for each zone and movement on the chart. If you have any opinions, feel free to share them in the comments section. Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Long
by Biaxar
Shorting My Fave Currencies AgainDISCLAIM : I AM NOT POSTING THIS FOR ANYONE TO TRADE ON MY BEHALF I AM NOT A FINANCIAL ADVISOR PLEASE KNOW YOUR TRADES ARE YOUR OWN CHOICE . DYOR As A Returning Trader, I Have Been Watching Trader News And Other Traders Trade Ideas. I Am A New Oanda User So I'm Learning The Platform And Timing With My Entries And My Exits. I Have Been Considering Short Trades During The First Few Days Of The Week As The DXY Seems To Continue To Rise My Most Watched Pairs Are AUD/USD, EUR/USD, And GBP/USD And Occasionally USD/JPY But My Focus Are The First 3. (I May Trade These Currencies To Focus My Trades With Gold But In The Meantime) The Dollar Value Has Gone Up For 4 Weeks Now And If It Continues Thes Pairs Will Still Be Good For Shorts. Im Posting This On A Saturday Checking My S/R Levels For The Upcoming Week... Im Not Too Confident About Exact Numbers But AUD/USD Has Already Broken Support For Me. GBP/USD And EUR/USD Have Already Made It To My .50 Fib By Friday But Theres Still Room For Movement I Might Wait For A Little Bit Of Retracement Before I Think About An Entry .   Any Seasoned Traders I Would Appreciate Any Feedback Or Ideas You Are Willing To Give.
by imelaninn
2
Using Renko Charts to Uncover SECRET Bank LevelsRenko charting has a unique way of displaying price data by filtering out smaller fluctuations and focusing only on substantial price moves. With a setting of Average True Range (ATR) 13, Renko charts become even more powerful for finding key institutional levels—what many traders call "secret bank levels." These are the levels where large institutional traders place their orders, often leading to significant price moves. In this tutorial, we’ll dive into how you can use Renko charts with an ATR setting of 13 to identify these bank levels and improve your trading strategy. What Are Secret Bank Levels? Institutional or bank levels are price points where big players—like banks and hedge funds—are likely to buy or sell in large quantities. Retail traders can leverage these levels by understanding where the big money is moving, aligning their trades accordingly. Renko charts, with their clarity in price movement, help identify these areas by smoothing out noise and highlighting essential support and resistance zones. Why Renko Charts? Renko charts are designed to filter out minor price movements, providing a cleaner view of market trends by focusing solely on significant price changes. Unlike time-based charts, Renko charts print a new "brick" only when price moves by a specified amount, determined here by the ATR 13 setting. This brick-by-brick approach can reveal clear levels where price repeatedly finds support or resistance, often signaling where major institutions are setting up their positions. Setting Up Renko with ATR (13) Choose Your Charting Platform: Most charting software, including TradingView and MetaTrader, offers Renko charting. Make sure your platform supports Renko and ATR-based calculations. Configure Renko with ATR (13): Open the Renko chart on your selected asset (e.g., EUR/USD, GBP/USD). In your settings, set the brick size to use the ATR indicator and specify an ATR length of 13. This setting is designed to adjust the brick size based on the recent average true range, capturing a balanced view of price movement. This 13-period setting adapts to recent market volatility, allowing Renko bricks to reveal significant price movements that matter to large institutional players. Adjust Timeframes: Since Renko charts don’t follow traditional time-based intervals, switch between higher and lower timeframes (like the 1-hour or 4-hour charts) to observe different levels of institutional interest. Higher timeframes generally provide more reliable secret bank levels, but you can switch to lower timeframes for refined entry points. Identifying Bank Levels with Renko and ATR (13) Now that your chart is set up, let's move on to the process of identifying institutional levels. 1. Look for Brick Clusters at Key Levels Renko bricks tend to form clusters at significant institutional levels. When you see several bricks stacked horizontally with little movement, it often indicates a zone where price is struggling to break through, either as strong support or resistance. Use these clusters as potential entry or exit points, aligning with the institutional flow. 2. Identify Breakouts and Rejections When price breaks out of a cluster or encounters rejection (where bricks reverse direction after hitting a level), you may be witnessing bank-level reactions. Watch for bricks that quickly shift direction after hitting a level—these can signal that institutions have stepped in to either push price further or halt its momentum. 3. Note Patterns and Reversals at Round Numbers Banks and institutions often place orders at round numbers, which are psychologically significant levels (like 1.2000, 1.2500). As Renko charts with ATR (13) are sensitive to significant price changes, they can help highlight when price respects or bounces off these round numbers, offering clues to potential institutional zones. Practical Example: Trading Secret Bank Levels with Renko Let’s say you’re analyzing EUR/USD on a Renko chart with an ATR 13 setting. Identify Clusters at 1.2000: After setting up your chart, you observe a cluster of Renko bricks at 1.2000, indicating a strong support zone. This level has held multiple times, suggesting institutional buying interest. Wait for a Brick Breakout: You then see price breaking out with consecutive Renko bricks closing above 1.2000. This breakout suggests that the buying pressure might push prices higher. Enter and Manage Your Position: Take a buy position after confirming the breakout. Set your stop loss just below the cluster at 1.1980 to minimize risk. If you’re looking for a shorter-term position, aim for profit at the next round number, like 1.2100. For a longer-term trade, follow Renko’s direction, adjusting your stop as the bricks move. Tips for Trading Bank Levels with Renko and ATR (13) Trust Your Levels: Renko charts can simplify your analysis, but it’s easy to second-guess your levels. If you’ve identified strong clusters or patterns at certain price points, trust your analysis. Use Alerts to Avoid Over-Trading: TradingView and other platforms allow you to set alerts at specific price levels. This way, you won’t need to stare at charts all day. Thank you for watching and feel free to leave a comment to let me know your thoughts on Renko and if you see yourself using this chart type. -TL Turner
Education
by TLTurnerTV
2