Most probably AUDUSD has bottomed out from a long term bearish trend and is about to or have started a new bullish trend
we are working on mainly three possible patterns that are unfolding labelled as P1, P2 and P3 where P2 is our preferred count at the moment
The volume surge, the march monthly candlestick, the fib ratios and a recent leading diagonal pattern on daily chart strongly suggests that the bearish trend has ended, however catching a bottom is like catching a dropping knife therefore proper money management is advised while taking trades
Currently all three possible patterns i.e. P1,P2 and P3 suggests a bullish trend where 0.5 or 0.61 ratio of P3 are the targets in view
I'll be soon posting daily and hourly charts analysis for the mid term traders and for the long term we are bullish on this market until the low of march 0.55063 is taken out
Please feel free to comment and share your views
Let see how this plays, Good Luck !
Disclaimer: This is for informational purposes only, anyone taking trades using this idea will be liable of their own loss
we are working on mainly three possible patterns that are unfolding labelled as P1, P2 and P3 where P2 is our preferred count at the moment
The volume surge, the march monthly candlestick, the fib ratios and a recent leading diagonal pattern on daily chart strongly suggests that the bearish trend has ended, however catching a bottom is like catching a dropping knife therefore proper money management is advised while taking trades
Currently all three possible patterns i.e. P1,P2 and P3 suggests a bullish trend where 0.5 or 0.61 ratio of P3 are the targets in view
I'll be soon posting daily and hourly charts analysis for the mid term traders and for the long term we are bullish on this market until the low of march 0.55063 is taken out
Please feel free to comment and share your views
Let see how this plays, Good Luck !
Disclaimer: This is for informational purposes only, anyone taking trades using this idea will be liable of their own loss