FX:AUDUSD   Australian Dollar / U.S. Dollar
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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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Beautiful
Long !
+1 Reply
Yes, it was a beautiful trade idea. :)
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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
50 retrace done, watching this area in 240 for another sell signal, yesterdays evening star should hold
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Yes, I think it's a good place to go short.
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although price fell recently, on daily we can see bullish engulfing which wrapped 2 whole prior bodies . So buy signal after 2 indecision days. On 240 price created new highs . I cant see any sell signals on 30/60/240 so I expect the price to move higher.
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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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You made a profit in a nice style - a strong candle, almost no time wasted.
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itaskar ForceFollower
yep, still expecting the 50 percent retrace test and I noticed this broadening triangle which should be completed now, so I will watch the candles for daily bear trend continuation as well.
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itaskar itaskar
similar pattern as in EURCAD, trend continuation after retrace
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