FX:AUDUSD   Australian Dollar/U.S. Dollar
135 11 4
daily doji after downmove created in support area, Price broke this support but cant hold there, buyers are stepping in, sellers are not in control now, Indecision(doji) at support area gives potential for upmove. Stochastic in oversold area. Bullish outlook will be invalidated after close below doji.

1st target 50percent retrace from downmove
2nd target recent high

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ForceFollower
2 years ago
Sure, everything looks lined up for a rally, except for the fact that the big trend is down. At your first target I'd be looking t go short.
+1 Reply
itaskar
2 years ago
30/60/240 close above potential resist area but price stoped at 38 percent retrace, so may partial close is here possible(1:1 ratio reached) and stop to break even.
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ForceFollower itaskar
2 years ago
You made a profit in a nice style - a strong candle, almost no time wasted.
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itaskar ForceFollower
2 years ago
yep, still expecting the 50 percent retrace test and I noticed this broadening triangle
snapshot
which should be completed now, so I will watch the candles for daily bear trend continuation as well.
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itaskar itaskar
2 years ago
similar pattern as in EURCAD, trend continuation after retrace
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ForceFollower itaskar
2 years ago
So that would imply a breakout to the downside in AUDUSD. I agree.
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itaskar
2 years ago
although price fell recently, on daily we can see bullish engulfing which wrapped 2 whole prior bodies
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. So buy signal after 2 indecision days. On 240 price created new highs
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. I cant see any sell signals on 30/60/240 so I expect the price to move higher.
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itaskar
2 years ago
50 retrace done, watching this area in 240 for another sell signal, yesterdays evening star should hold
snapshot
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ForceFollower itaskar
2 years ago
Yes, I think it's a good place to go short.
Reply
vaicru PRO
2 years ago
Beautiful
Long !
+1 Reply
ForceFollower vaicru
2 years ago
Yes, it was a beautiful trade idea. :)
+1 Reply
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