Long AUDUSD: 2 Cyphers + Crab + TCT + EMA/SMA Support + Pivots

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             is nearing the PRZ of 3 harmonic patterns presenting us with an opportunity to trade in the direction of the trend. The base of the PRZ coincides precisely with last week's missed pivot in addition to a fib cluster from a series of structure lows to structure highs. The 500 bar SMA and EMA lines may provide added support around the reversal zone. To add to bullish bias, the new weekly pivot will be printed near the .618CD retracement and may help to pull price up toward target. Entry is placed at the base of the PRZ with target at .618CD and SL below structure lows. This trade yields a risk to reward ratio of 2.

Confluence in the PRZ:

If this long position is successful, the next level I will be focusing on is .74:
Trade active
Comment: Target has been moved to 50% retracement of BC leg, as a 5-0 pattern has emerged:
What do you think about this trade?
If you have traded BLACK MONDAY last time.. then we have same atmosphere in currencies today... aud and nu bearish.. with uj... and today uj going below 3 year rising trendline... is very negative.. but last time there was 1 big change.. US Dollar Index was on dam fall... lets see where market head..
Great point thanks for bringing that up, let's see if history repeats itself
jhakas glennmercer
yeah lets see how things roll... every time aud goes above 0.73... and when it falls it continue falls below 0.72.. check daily chart.. good indication.. so far aud v. heavy... gu seems bullish and i think it will go for 1.48
4hr spike down looks v. scary.. i was short on aud and booked plus 60 pips and out once uj started magic down.. lets see how it rolls then i will join on buy side.. but if uj made some noise down... holding short uj with tp 119.3 and down..
Hello everybody, please see AUDUSD analysis in the following video:
nice one ,We can expect to see here will be supported.
+2 Reply
Thanks Darenth, and yes I think strong support here is likely
Darenth glennmercer
So far did not see too many signs of stop rising,0.75 is a good target, let's do it,and Happy New Year Glenn!
Thank you! To you as well!
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