FunCoupons

AUDUSD Harmonics playing nicely in a newly Ascending Channel

FX:AUDUSD   Australian Dollar/U.S. Dollar
Beautiful harmonics inside of a possible ascending channel . We'll see if this channel holds if the current Bullish Bat formation develops and plays nice as it's ancestors. Currently aggressive traders take short position of C Bat leg with SL above C. Overall trend is reversing from long term Bear . Shall we see if the Bearish Butterfly Double Bottom would paint a picture perfect trend reversal.
And off to the races we go. Expect acceleration to AB=CD. We should hit target by Monday which will then shall provide us with a good long entry if Bullish Bat completes successfully.
Reply
Quick break, but never closed below primary support zone (noted in chart). Now in consolidation zone on the middle of the channel which gives us channel setup validation. C leg is holding holding up showing LH, setup still in play. Considering it as a gift if we get to test lower channel trendline.
Reply
Nice work, have short target 8090 (as your bat), then trend reversal up to 8750 area looks possible to me. However, longterm we could see 7475 level as 61.8 extension in tripple zigzag correction or wolfe wave.
snapshot
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out