Agree with your analysis mate, very good! AUDUSD really looks ready to fall, if not now, next week for sure on my view. But also one good thing to note is that (in my view) kiwi will depreciate much more than aussie next days/weeks, so eurnzd and nzdusd also could be good call to go respectively long and short.
Indeed! I guess we have a lot in our favour, but I have a slight nag, on 4 hrs chart, it seems like this demand zone has been tested several times now! hoping it'll stand this one time again! :) All the best everyone who's in!
Nice analysis mate, thanks for share. All analysis are welcome :) I prefer go long because to me seems that this channel and the support are holding. Also AUD looks good to sell against USD, and on my view EUR is stronger than USD this week, so, EUR x AUD would be even better. But also NZD looks weaker than AUD, so even better would be EURNZD long. But for now I will stick to this one.
I completely understand... My comments were hinting about how to determine market buying or selling based on the bars. Yes, everyone knows candlesticks, I'm not referring to that. I'm referring to "seeing' order flow. I'll give an example... Very often at the end of the trend markets will have it's strongest impulsive wave (i.e. Elliott Wavers will call it a W5). It's the wave that tends to be parabolic. At the end of that wave structure, about 60% of the time or more if you are observant you will notice something I call a "climax bar". I define it as a very large bar that appears at the end or very close to the end of the structure. So if you recognize that you are in that wave structure then you know what to look before before reversing positions. One thing about the bar is that it will always be the largest bar of that wave. This is only one observation about what markets do at a top or bottom... there are many many others as it relates to just the bars themselves and how they must form. My point is... the type bar, what direction, where does it test, where does it not test, what's the volume on the bar, did it close above previous support/resistance? Etc..etc..etc.. There is far more you can research about what buying and selling looks like. I just wanted to hint at that for people who want to research and discover this for themselves.
very interesting man. Looks like you have a step by step of how to look at the market (what I personally see as a very good habit and have my way too). Congrats. I will speak to you on private message :)
It went to the level that I mentioned and the buying still looks weak. Often times markets will have a correction before breaking the level... It might do that or just break the level outright. I still see bearishness.
no, you are right the H&S looks very good, I saw it too before the trade, but I thought the channel would be better. Anyway Im still bullish thinking it will be a false breakout, but if it really breaks and retest the neckline, will be good to sell for sure. Good luck and nice analysis mate
It's funny you posted the head & shoulders... I was just about to comment on that. But I think it's more likely to break the high of the right shoulder before going lower. I'll be looking to buy at 1.5195 since I think that scenario is most likely. If it breaks that price level with a big bar then I'll be a seller. If it does reverse there however and it breaks the right shoulder then I'll be a heavy seller. From 1.5690 I would target 1.5. That's my trade plan for the EURAUD anyway.
I think you're the only person who can smile when they get stopped out *wink*... usually I find myself buying a new keyboard and screen lol. Check what happens if the shoulder makes a new high... if it's weak I think we'll get another place to sell. Cheers. ^_^
there are Big Guns targeting.. 1.518.. but i expect downside to be limited and even if 1.518 taken out which i expect to be false break if happen.. as month start always bring surprises.. for short term buy on dip is right idea.. but just for Monday..!!