themarketzone
Long

Three harmonic trading scenarios to monitor

FX:AUDUSD   Australian Dollar/U.S. Dollar
As you can see in the chart, Friday's Pinbar candle was created once $AUDUSD touched the 0.71 support zone and the SMAs meeting point near. That kind of price reaction is a bullish signal especially if you consider the recent low as a higher low (from January's low).

Three harmonic scenarios to monitor on $AUDUSD:
1. Bearish – For those who consider the recent price action as hesitant and weak – Aggressive C* sell in what
could be C point of bullish Gartley pattern (pink)
2. Bullish – Aggressive C entry ( bullish ) in what could be C point in an AB=CD pattern that will complete near
0.74 (top of weekly trading range and target zone for this setup)
3. Bullish – Buying Aussie near 0.69 if it will complete the bullish Gartley pattern.

Tomer, The MarketZone
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Comment: Bearish response when it touched the 200 SMA line.
Price declined towards potential two harmonic pattern completion zones
See chart below
Comment: http://goo.gl/OfcpVF
Comment: ab=cd pattern completed
snapshot


Two buy zones to monitor towards Rate Decision
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