Invezted

Aud/Usd Roadmap for 25.06.15

FX:AUDUSD   Australian Dollar/U.S. Dollar
226 8 6
Context:
price forms a small range between 77500 resistance and with support at 76930
any breakout to the upside should be considered strong and a retest of the upperlimit of the channel is likely (78500)
a breadown OTOH to the downside is a sign of weakness and we might see 75600 again..


Trading opportunities:
Long:

breakout of the reistance level at 77500 + pullback
retracement off the mean at 77210 (sign of strenght)
reversal at support 76930

short:
reversal at resistance 77500
breakdown of support at 76930 + pullback

Signs of strength:
upchannel
support at demandline


Signs Of weakness:
resistance near the 50% retracement


Support:
77210
76930
76000


Resistance:
77500
77600
77900
DimiAverilla
a year ago
Nice one mate good coverage. Thanks for providing the support and resistance levels too.
+1 Reply
Invezted DimiAverilla
a year ago
thank you sir, will keep posting on a regular basis , may improve the coverage here and there, we like it straight to the point with as less clutter as possible.. any feedback is welcome ;) cheers
Reply
DimiAverilla
a year ago
What do you think the chances are of it breaking out on the upside? It's been sitting around the same 77446 area for the past 6 hours.
Reply
Invezted DimiAverilla
a year ago
sorry for the late response, we will try to respond in a timely mather but its not possible to answer on time on busy schedules.. sorry ,
however price did made some higher lows , towards the res. of 77500 but price capped up there and got rejeceted frequently , so to play a breakout
in this case .. one should have waited for "the break" before considering any longs , due to such a strong res. level , if one wants to position oneself before a breakout , to ride the momentum.. in this case at least one should have waited to see how price behaves at the mean of 77210 in order to consider a long ,... cheers
Reply
AbhiCherukuri
a year ago
How can we confirm that a reversal is taking place or if it is just a simple pullback before breaking down again? Thank you
+1 Reply
Invezted AbhiCherukuri
a year ago
Hi , thank you for your good question . if you are reffering to the (long opportunity "reversal" at sup. 76930 ) , then what one wants to see
is a break of any preceeding supplyline or trendline if you perfer , which indicates that demand is overcoming supply at the moment and then you want to see a retracement which at best ends in a higher low , this confirms that the selling pressure has decreased , which ads to the likelyness of a reversal at this level , ther are many ways a reversal may reveal itself .. i will later post back to this thread and cover several examples.. with ifs>thens etc.. on a highly detailed fashion on this matter, stay tuned ;) cheers
Reply
AbhiCherukuri Invezted
a year ago
Thank you so much. Eagerly waiting for the examples which can help me to further understand your trading analysis.
Reply
Invezted AbhiCherukuri
a year ago
hi , there you go reversals explained
$Study : Reversal Setups
Reply
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