The pair is pressuring channel resistance and a possible Gartley pattern emerges.
It looks like the price will test near resistance at 1.4320, a bearish Gartley can be projected and a short opportunity could be ahead.
Price is now completing a 3-drives pattern and an up move could be expected. OIL price is pushing CAD high and will continue till April 17 (OPEC meeting), will see if the pattern remains after that meeting.
Price re-testing broken channel, a bearish divergence looks very possible. Just waiting for reversal bar pattern. A second pattern (B-fly) will be at the top of the new channel formation.
Let's see if the price can complete the Bat pattern projection on D1 chart (green, link below)
Pair is in an uptrend, however, it could be a chance for a short position
AUD is pushing high because OIL prices and probably will continue till April 17 (OPEC meeting), at that moment, this pair could form a SHS pattern and start a big move down. Good for long positions in lower TF
Following possible structure on D1 chart (link below).
For the moment, I'm looking for long position on lower TF
An ABCD pattern is in formation, a bullish divergence and bullish pin bar are present inside PRZ, so it could be a good idea to look for a long position, however the PRZ is wide (+150 pips), still there is a possibility that the price push down a little bit more. So, my options: 1) Buy limit at 109.64 / SL = 109.29 2) Wait for a reversal bar pattern around 108.99...
Price will pressure channel resistance and bear divergence suggest that the price is about to fall and retest daily support at 1.2720 I’m just waiting for reversal bar pattern inside PRZ to consider a short position. On H1 chart, it looks like the price will retest near resistance at 1.3059 before downtrend starts (bull divergence is present).
Combo Shark / 5-0 pattern at sight. I hope that the price completes bearish ABCD pattern on D1 chart for future short position. Waiting for reversal bar pattern inside PRZ H1 chart view:
Price broke channel, but re-entered to it. A bear divergence looks very possible, will see if the price hits the confluence zone… View on D1 chart:
3-Drive pattern completed. A Wolfe wave pattern is at sight. I’ll try to go short for the 61.8 – 78.6 Fibo retracements as a first target, keeping an eye on the ABCD pattern projection on D1 chart (green). View on H1 chart:
Pair broke channel, pushed by OIL price, and is going to test next resistance level at 0.76. A bearish butterfly and Crab pattern in play. Good for long positions in lower TF’s. For short position on D1 chart: wait for bearish divergence and reversal bar pattern inside PRZ box
Price will be pressure channel resistance, will see if a new bearish ABCD pattern can be develop or the price will continue high for a Wolfe wave pattern... I'll be watching if the price hits the PRZ box and bear divergence + reversal bar pattern presents itself. My view on H4 chart: Bearish Shark and 3-drive pattern in play
Price is pressuring channel resistance and bear divergence is present. Just waiting for a reversal bar pattern inside PRZ. Probably best entry on H4 chart: Bearish B-Fly pattern projection
Waiting for bull divergence + reversal bar pattern inside PRZ. Will see if the bearish 3D pattern completes and overlaps to ABCD pattern on D1 chart (green) for a future short position.