Key levels marked down on the chart, retracement towards major trendline, rejects at important key level longer term (redline), breaks lows of the retracement, take it short to level indicated on the chart. WATCH what price does around 1.0704, this is an important level. Decrease risk because of this level.
Who says trading has to be rocket science? price just crossed the 200 ema, looking for the 20 ema to cross as well... the aussie is stronger than the dollar today, and we always look to trade the strong vs the weak... look to take profits and place stops around key levels, which are the pink lines on the chart
Confluence: 1. Looking for price to rally back around the 114.00 level then continuing the uptrend. 2. Price hasnt retested its breakout yet on the higher timeframe (daily) 3. Key level is the weekly support 114.00 4. Head and shoulders on the 1HR chart indicating probable rally downward before continuing uptrend. 5. Probable tps
The purple lines represent the actually trend channel. The turquoise line is the actually support level. As we can see we have a consolidation at the 78,60% Fibonacci-Retracement (6370 Yuan) which i would see as an important level. At the RSI we have a bearish divergence at the 1 hour chart. The channel range is between 6500 yuan and 6200 yuan. A break to the ...