Clearly I've been monitoring this gem for way too "Long." Major resistance has proven challenging for Bullish persuasion, at least for now and any hope of the breakout. Patience is your most precious tool here as price looks poised to dip again to lower lvls before any such breakout up to 2500 and beyond.
This pair is always on my watchlist, we have a love-hate relationship. Nevertheless, it loads up the bag from time to time. Follow the 1-5 steps of my simplified analysis as highlighted on the chart. What do you think will happen next within this massive Daily channel?
I've been looking at this pair for some time, I keep missing the opportunities to capitalize on its movement. Price has been generally trending bearish since around mid August 2023. I think that I may be onto something here now. Price has retraced to an area of interest and has provided me with a lovely confluence ie;
1. Rejection of a level of resistance around...
Major resistance seems to be holding on this pair. We now have price again reversing for a 3rd time after failing to break above the levels around 184.340. Will this 3rd time be the charm? I took a 1:2 short to my TP1 based on this setup, let's hope it plays out. I go to bed now and maybe I wake up in a few hours and be in the money!
AUD/USD Big Picture!
Sellers have been dominating this pair over the past 11 months, since February 2021.
We're now at an interesting point with price action showing that there's still a bearish flavor in the air!
This Bearish Flag Pattern has been broken on the Daily timeframe, with confirmations of price retesting the structure on the 4Hour timeframe.
Price...
