FX:AUDUSD   Australian Dollar / U.S. Dollar
A little too late for the post. But I'm fading the breakout with a shark886 pattern with my rules as a forward test.

Target 1 was hit at 0.7829. Stoploss has been set to breakeven
Right, a chart with 960 minutes doesn't play..
Mikoxl. Mikoxl.
Target 1 was hit


After the 4H triangle breakout to the downside, this breakout appeared to be a bulltrap. Now the price has just tested the broken upward channel for the first time. This test happens to line up with a test of the midline of the Bollingerband (14). Sure you can say that this is a "natural" place to continue the downtrend. However, I believe that this initial test is just a minor obstacle in a bigger correction to the upside since the RSI is not showing any bearish divergence nor any sign of sold out to quickly compared to the price movement.
What confirmation will you need to see to know if this trade is working? Will you follow up on your trade on this chart?
Mikoxl. timwest
I will follow up on this trade on this chart, because I'm currently testing my set of rules for an adjusted Shark pattern. I'm not sure what you mean by the confirmation I need. But If the price cannot find support above the 23.6 retracement at 0.7749 there is a chance this pattern may fail.
Mikoxl. timwest
Hey Tim, now I'm pretty confident this trade will work out. The pair is now holding above the 23.6% retracement.

After seeing a bullish RSI divergence in conjunction with a double bottom, I believe this pair is ready for a bigger correction.

It is too bad a post with 960 minutes won't work with the replay button.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out