Reasons for entry : - PRZ, structure - Potential gartley -> FE AB = 127.2% - Maybe RSI divergance SL : - Above structure TP : - FR 61.8% of XA, structure
AUD/USD 4H Bearish BAT @ strong structure (PRZ)
Apologies as the previous post only showed one chart, while I'm looking at three timeframes simultaneously
All of last week I was short the AUD/USD and this netted some decent pips. NFP data did stop me out but my tight parabolic SAR trailing stop (4H chart) ensured most of last week's move was bagged. The question is whether the downside bias will continue. I think it will and have entered short as we are testing the kumo from beneath on the daily chart. I expect...
I have been short the AUD/USD pair all week on the 4H time frame and this has been a good trade. On the daily, we have no broken through the Kumo to the south and this could potentially see a larger downward move. The smaller time frames show that prices are creeping back up (I think) to re-test this area of the Kumo (0.9321 to 0.9340 area) and trend line above....
Aussie came under the pressuer yesterday after the civil jet plane was shoot down at the Ukraine teritory, the bigger fundamental picture shows that RBA might not be comfortable with the current exchange rate and we might see more verbal interventions towards lowering their domestic currency strenght. On the other hand there is an hude chance that Dolar will get...
Note: I got rid of NZD/USD and USD/CHF. NZD/USD pretty much correlates with AUD/USD while USD/CHF correlates with EUR/USD, so I figured it was redundant to analyze both pairs. ------------------------------------------------- Interesting Pairs: AUD/USD - Bearish - Price tested the broken trend line last week and bounced down - Price retested the same price...
Curreny pair bounced off of major support level that is in tact since beginnig of April. Also, it was bottom of bull flag. As it broke up intermidiate resistance level it caught some follow through. I am bullish and will be watching for buying opportunities on 50% pullback close to 8/21 EMA or if it will go through 0.93118 it may attract more active swing...