Aussie: 11 Red Candles! Trump Giving The Rest
Helloo Aussie traders & forex friends, hope you're doing well guys!
When was the last time we had 11 red candles? => I'm mostly trading crypto, also looking at stocks and commodities, I cannot see a time with 11 subsequent red candles.
The Fed certainly didn't do what was expected (to lower the interest rates more), but Trump crushed what was left over. The fear of Trump raising the tariffs for Chinese imports & generally widening the trade war lets investors to think that Australian-Chinese trade could be heavily impacted as a result.
2 Options now:
1) Even though we have broken crucial previous support at 68 cents, we are still so hugely oversold, that some sort of reaction from the bulls is the most logical/probable action right now. In this case of scenario, we could e.g. still bounce up until 68,5 previous lows, and still reject and break lower. We can already see the Daily candle potentially shaping up to a Doji right now: so we could actually turn the 11th red candle into a bullish one! ;)
2) Should we against all logic/oversoldedness still keep going lower, we have the January flash crash lows of 67,2 Cents.
In the big picture though, don't forget this:
Conclusion: The most likely scenario is some sort of bounce from the bulls now at least. If this doesn't happen, the 2008 financial crisis lows of 62-60 cents will be activated.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
When was the last time we had 11 red candles? => I'm mostly trading crypto, also looking at stocks and commodities, I cannot see a time with 11 subsequent red candles.
The Fed certainly didn't do what was expected (to lower the interest rates more), but Trump crushed what was left over. The fear of Trump raising the tariffs for Chinese imports & generally widening the trade war lets investors to think that Australian-Chinese trade could be heavily impacted as a result.
2 Options now:
1) Even though we have broken crucial previous support at 68 cents, we are still so hugely oversold, that some sort of reaction from the bulls is the most logical/probable action right now. In this case of scenario, we could e.g. still bounce up until 68,5 previous lows, and still reject and break lower. We can already see the Daily candle potentially shaping up to a Doji right now: so we could actually turn the 11th red candle into a bullish one! ;)
2) Should we against all logic/oversoldedness still keep going lower, we have the January flash crash lows of 67,2 Cents.
In the big picture though, don't forget this:
Conclusion: The most likely scenario is some sort of bounce from the bulls now at least. If this doesn't happen, the 2008 financial crisis lows of 62-60 cents will be activated.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
