How To Break Down A Chart!! AUDUSD- Bullish This Coming Week!!!

FX:AUDUSD   Australian Dollar / U.S. Dollar
84 0 2
Do you know what you need to know about what chart's are telling? Do you speak the language of price action?
Look @ AUDUSD- what do I see?
- Price action on last day of trading just stop right on/above a MAJOR support of pair, so should reverse this week UP.
- Let's put a Fib Retracement indicator on top of low & high's of price from start of this year to into April last month. Where is price action now? It's in the 50%, which is one of the highest reversal price action areas ( be aware).
- Can we put Elliot impulse waves (1-5) on upward price action? Yes
- Can we put Elliot impulse waves (1-5) on downward price action? Yes
- BB indicator price action now is outside, so before price action changes it will go back inside of BB indicator soon.
- Remember this is a daily chart , so price action might go down to a psychological price action, like 0.73000, before going back up this week. You should look at 1 hour charts for this turn around & for more concise price action info.
- Finally, all of my noted MA's & EMA's on chart have been broken by the down trend in price action, except the 200 MA, which is a MAJOR MA on any time frame, but more substantial on higher time frames, like this daily chart .
- Lastly, noted RSI is showing a very oversold situation at this time, so be ready for the BULLS or change of price action direction this coming week. I believe that all trader's need to aware of the BIG picture, before trading. This will keep you on the right side of TRENDS, S/R & understand what the individual pair's are telling you, which is a lot. Please trade with knowledge, so you don't just give your hard earned M$NEY away, to your broker. Just Win!!!
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