My current position after AUDCAD showed strong bearish momentum.
AUDJPY Short Idea AJ is still very bearish and could remain so for a while. Ideally we would like to see a nice retracement to a key level followed by strong bearish setups and confirmation that supports the trade idea. Look to target lower toward our -27% fib level after a confirmed reversal from the 38.2% or 61.8% fib level
Im looking into a possible Double Bottom on the AUDJPY, if market opens bullish and reach the lvl of 71.238 i think it's confirmed and it's a good bullish move, it can also make a break and retest on that downtrend so we can get a good possibility of a Buy position with a good Risk:Reward. *Eyes on graphic* Best Regards
EURAUD made a ludicrous 1000 pip run from the 1.61 level and handly pulled back. Price finally gave sellers a hand in the markets at the 1.71xx handle and is now making a double top offering a second chance to enter. There is an abundance of unsettled bank liquidity below that needs to get clapped. Targets: 1.676, 1.658, 1.645, 1.63178
I have essentially been a "permabull" on GBPAUD since Jan of this year on this pair, even after the full bearish reversal of the late January bullrun at the beginning of Feb (Sell off from the 1.97 zone). Now I'm looking for the sell. Banks & Institutions trade both long and short at the same time to maximize profits and well as pain on retail traders. The 1.97...
TF: 8 hr Some large wicking can be seen in this area, looking for some corrective buys to the larger down trend. The general area for taking profit is where price has fallen out of a large support area on the weekly.
TF: 4 hr Looking for sells and potential wicking candles around the blue zone. Double top with rejection, bearish divergence on the RSI, and stochastic indicating overbought conditions make this a great short opportunity. Red dashed lines are Fibonacci clusters pulled from the previous impulse at 1.6120 area, look for some reaction around these lines.
DOUBLE TOP --> SELL THE RED ZONE IS INTERESTING TO SELL
HI there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
GBPAUD is at a very strong resistance intersection and i expect it will fall from here. However it could breakout and continue to rise to the 2nd resistance line and fall to retest.
I expect the start decline of EURAUD in wave 1 or A. Friends, support this idea with your Like and any Comment. Thanks.