EverythingForex

AUDUSD: Is it time to buy? Crab says No!

FX:AUDUSD   Australian Dollar/U.S. Dollar
I see a lot of people are starting to anticipate a reversal on this pair. Well, I am also. But, looking at this POTENTIAL bullish crab , maybe just not yet so fast. Yes, it's just a POTENTIAL pattern and just because I drew one there doesn't mean it will complete.

BUT, what's interesting to note is that as can be seen more clearly on the DAILY chart below, there is a very clear AB=CD pattern that would complete EXACTLY TO THE PIP at the same point that the bull crab would also complete.
snapshot

Coincidence? Confluence? Or just bunk? You decide.

If you like my analysis and find it useful, please take a second to hit that LIKE button and follow me. It takes some time to create these posts and I would like to know if you find them helpful. As always, agree or disagree, your comments are welcome.
Interesting analysis - I strongly agree with you. It's definitelysomething to keep a close eye on - as any major break below .7343-40 would suggest a further bearish continuation.
Reply
Well, I'm definitely LONG TERM bearish on this pair. Any upside movement is simply retracement and for me is opportunity to look for SHORTS.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out