AUDUSD weekly update (triangle auto cloning)

FX:AUDUSD   Australian Dollar / U.S. Dollar
1872 25 32
Maybe some positive pips under the Christmas tree for those longing AU . I've drawn a triangle with the corners touching significant swing points, this becomes the reference triangle. By clicking on the clone function you automatically get a triangle clone placed above the reference triangle, you repeat by clicking the clone function on the last placed clone.
The AU finished the week with a long lower tail candle at support with positive divergence. The daily frame is showing a bullish candle pattern and a positive diverging Fisher double bottom , so it’s likely that AU will have a bounce up from here. The near term upside target is the base of triangle clone 1. Failure to hold current support could see AU fall to around .86 near term.
Need to find another Tree pattern for holiday sakes!
nmike MOD QuantitativeExhaustion
....ok....another AU xmas tree coming soon.....
+1 Reply
Sam0101 nmike
Hi mike can u update us the latest Xmas tree? thanks
....cannot use auto cloning at this time,auto cloning can only be drawn going from bottom to top, so instead I placed the 2 triangle clones with the apex touching a pivot low, likely I will publish this with more details
+1 Reply
Hej , can you give any update on this pair , thanks
+1 Reply
short term channel up & broken trend line, likely to top of channel and or 34ma near term, if rises above channel next target is at bottom of Clone A
Thanx , Great
+1 Reply
interesting how price is ranging between 2 CLONE triangle bases, let's see which way it breaks
+1 Reply
.....AU currently at triangle corner resistance,if we break here AU's next target likely to be around the .94 level........(cloning should be used along whit other traditional methods)

+1 Reply
....AU is finding support at 34ma and at mid channel support
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