AUD/USD strong reversal Long position
Hello traders
I felt sorry about I haven't updated anything because I moved my eyes on my teaching in Google Classroom.
This is my first analysis in this new year 2019. I believed many of you, like me caught this opportunity of any AUD pairs yesterday. Although this analysis came a bit late, nevermind, we are looking for the TP levels.
Everyone can spot a very long tail of low test bar. It indicates a large number of buyers that came into the market to support the green zone which is a demand zone whether in a weekly / monthly chart ages ago.
A confirmation bullish candlestick breakthrough the strong valid trendline and now closed high at 20 EMA.
There is a little challenge coming up ... the S/R zone = Fib Ret level 61.8%.
On the other hand, ichimoku tells us that a strong resistance level that the kinjun-sen formed in Oct 2018 and the base of the green cloud. The black dash line tells the same story that 0.7178 is technical resistance.
Summary:
The crossovers of a few indicators haven't occurred yet, such as Crossovers: MACD and 8 & 20 EMA and Tenkan-sen & Kinjun-sen.
There is still a question if any retracement occurred in the next day.
For those who have no positions: Wait if the market breakthrough S/R level, or wait for retracement back to the red downward trend line to take another leap.
For those who have positions: Watch carefully, your target is near 0.7320
Thanks for reading.
Happy new year ! May this year bring new happiness, goals, achievements and a lot of new inspiration for your life.
I felt sorry about I haven't updated anything because I moved my eyes on my teaching in Google Classroom.
This is my first analysis in this new year 2019. I believed many of you, like me caught this opportunity of any AUD pairs yesterday. Although this analysis came a bit late, nevermind, we are looking for the TP levels.
Everyone can spot a very long tail of low test bar. It indicates a large number of buyers that came into the market to support the green zone which is a demand zone whether in a weekly / monthly chart ages ago.
A confirmation bullish candlestick breakthrough the strong valid trendline and now closed high at 20 EMA.
There is a little challenge coming up ... the S/R zone = Fib Ret level 61.8%.
On the other hand, ichimoku tells us that a strong resistance level that the kinjun-sen formed in Oct 2018 and the base of the green cloud. The black dash line tells the same story that 0.7178 is technical resistance.
Summary:
The crossovers of a few indicators haven't occurred yet, such as Crossovers: MACD and 8 & 20 EMA and Tenkan-sen & Kinjun-sen.
There is still a question if any retracement occurred in the next day.
For those who have no positions: Wait if the market breakthrough S/R level, or wait for retracement back to the red downward trend line to take another leap.
For those who have positions: Watch carefully, your target is near 0.7320
Thanks for reading.
Happy new year ! May this year bring new happiness, goals, achievements and a lot of new inspiration for your life.
