Timing is key
Long

Median Line Analysis - Supporting Upward Move on AUDUSD (D)

FX:AUDUSD   Australian Dollar/U.S. Dollar
398 5 4
Hello all,

Our Socceroos may have lost the world cup but our dollar is looking stronger against the Greenback with some interesting chart patterns. The ideas supporting an upward move are as follows.

Idea 1: Actual price failure on green downward fork
Idea 2: Potential test of lower parallel ( purple fork )
Idea 3: Potential price channel breakout ( to the upside )
Idea 4: Upward targets based on number of tests of the upper horizontal blue price channel .

NOTE: If the bottom price channel breaks to the downside and closes more than 3 times below the lower blue channel line & lower purple parallel all upward targets are reversed symmetrically using the lower blue horizontal channel line as the axis. as there will be an equal number of tests of the lower horizontal blue price channel .

Sincerely,

TIK
Best,simplified, explaination to analysis.I appreciate highly
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Anytime, The biggest clue of a strong upward move is the price failing to reach the Median Line of the steep downward fork, if you notice, ever since it left that structure it has been moving sideways, forming a base from which it will use as a springboard for the next breakout move. The wider the horizontal base the better as we can expect the same move vertically in Price.

Many more things going for this as explained in the chart above.

Sincerely,

TIK.
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Update: Looks like it will test lower purple parallel. If it holds we should see a strong move towards the purple ML.

snapshot
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Timing is key Timing is key
Sorry I changed the colour to RED:)
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Please read my NOTE: on my original post above, Once the bottom price channel broke went down 3 levels to the P3 Pivot precisely........Chalk this one to Mr Andrews.

Sincerely,

TIK
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