AUDNZD has an inverted head and shoulders pattern and awaiting breakout.
Long on a strong weekly close above neckline (above 1.13). I would be targeting in the 1.26 area.
FX:AUDNZD Engaged Bearish Gartley pattern; GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe Trades;
FX:AUDNZD BEARISH SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% B C 88.6% to 113% XC Target: 38.2% to 100% CD Safe Trade;
14th post FX:AUDNZD Any comments and suggestions are welcome. Potential Cypher Pattern forming on the 1h charts. Of course, it is still very early to say, but if we get a D leg, it could setup for a nice trade.
Hi everyone, Just starting out with all of this so thought I would post an entry for some feedback. I took a long entry here on AUDNZD. My reasoning was that price was bouncing off both the 20 and 50 EMA lines on the last candle, which was a low test. In the strategy that I have been learning a low test seems to indicate a long entry, usually supported with price...
Price range is getting tighter in the reversal zone, which means a breakout is likely to occur. The trade is long bias because of the moving averages above the PRZ; I expect a bounce and touch of the 8 and 20 day MA. If the price goes south past the triangle we can expect a move to at least 1.06150 over the next couple sessions.
The weekly chart shows a very interesting inverted head & shoulders pattern following a significant AUD decline against the NZD after breaking, but failing to hold below the December 2005 lows. With the renewed dovish tone of the RBNZ after disappointing dairy prices, and even more disappointing consumer price figures, this looks to be a good opportunity for...
After a 5-wave rally, this pair is ready to take off to surpass the 1.11 high in a Wave C or 3. See how beautifully the channeling technique has contained the corrective price action. Good luck, Ali Sharif Azadeh, CFTe
This trade is based on cross time frame analysis where the 4 hour, daily and weekly all show technical signs of reversal. On the 4 Hour we can see the formation of a double bottom, the daily has a morning star and the weekly is developing a pinbar. My stop loss will be based under the double bottom and incorporating the psyco number - learn to trade like a pro boafx.co.uk