The price of AUDUSD has formed a head and shoulders bearish formation is very likely to retest 0.72 area.
The setup.
Sell a break of current support area below 0.7240 and take profit at 0.7200 area resulting in around 40 pips.
Technicals.
Head and shoulders formation has been identified.
Break of 0.7240 will bring negative momentum.
RSI is trending lower...
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As we can see, the price has made a double top and also gave a breakout from its trendline.
Let us know your views on this in the comment section. Thank you all.
There is good news for our...
Price has entered an area of resistance.
Before I take this short I will look for clear rejection at this level confirmed by closed 4H bearish candles.
Price could reverse down to the 0.72217 level which is an are of previous resistance.
looking for a run at liquidity and then hunting stops just above it. Targeting a previous high, and a possible down move - not quite looking for it to go all the way down, but would take partials at the half way point.
AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Price action resumes the overall bullish trend and pushes through our 4hour level at 0.72700. Enter long on strong bullish setups confirming a higher low above 0.72700. Target higher toward key resistance around 0.73400.
Trade scenario 2: Price action goes...
Good morning everyone!
✏️ In this post, we will show you an excellent way to trade a channel breakout. It applies to both ascending and descending channels, even horizontal channels (ranges).
- Of course, the first thing we need is to have the trend identified with its corresponding trendlines. In this case, in the AUD / USD, it is a downtrend. To mark it, we...
AUDUSD on the daily chart after testing the descending trendline at the 73.000 level created an h&S pattern over a support.
The price broke below the neckline and tested the lower support.
IF the market will break below the 72.200 area we will set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure ->...
AUDUSD is testing the trendline support.
The market is printing a descending triangle pattern.
RSI printed a bearish divergence signal.
Potential retracement to fibonacci retracement levels
Sell entry - breakdown below the descending triangle support + trendline support ⬇️
Hello everyone!
-On a daily chart, we can see that the price tested and rejected a strong resistance area within 5 days,...
-We can see that the bulls are losing momentum so we may expect that the bears are going to take some control.
-We can see a nice Doji pattern in the resistance zone and that is a nice sign that trend is going to change.
-The Stochastic...
This chart shows the situation of Aud-Usd. Possible in the next days a drop of the currency pair with the first target at 0,71600 and, then, the pullback on the resistance of the bearish channel.
There are other fundamental considerations (that I don't feature here) that give me a bearish view on the currency pair. Highlighted in the chart the "sensitive"...
