Hello everyone, I can see a head and shoulders forming, i've opened a short let me know what you guys think!
Tracking this for a down move to begin as we may have made the weekly high
AUD/USD daily- Consolidating within a Symmetrical Triangle. Most likely a bearish breakout- Since the US10y treasuries have already broken downwards out of its Symmetrical triangle on the daily chart. The AUD/USD and S&P500 index will follow suit.
AUDUSD (4hr) 1-2-3 Trend Reversal? Must complete all three steps to be a trend reversal. Step 1- Check. Step 2- Check. Step 3- must break red support line (previous low).
AUD/USD hitting old January highs (yellow horizontal line), with upper bound of Rising Wedge. Plus daily chart RSI at 80! Very overbought conditions in the short term.
Rising Wedges, especially for downward breakouts, are some of the worst performing chart patterns. Downward breakouts have an unacceptable high failure rate and small post breakout declines. They also have a 72% probability of pullbacks. Rising Wedges breakout direction: 60% probability downwards. thepatternsite.com From Thomas Bulkowski- encyclopaedia of...
Selling this rally into resistance have made the Aussie Dollar an attractive sell for the a test of the bottom of the range, within a longer downtrend. The shorter timeframes are in overbought territory which makes it a better sell. Only a daily close above .6680 would negate this trade. Note: the rally could extend so wait for a test. I'm interested to hear if...
Expecting a push higher, if price respects highlighted zone. will only look for sells, if price pushes back below highlighted, then I will look for other confirmations to sell.
CORTO EN AUDCHF, LA MONEDA AUD SE VE DEBIL ULTIMAMENTE, EL MOMENTO ALCISTA HA TERMINADO? TAL VEZ, VEAMOS QUE PASA.
I love going in and out of the market and making quick pips. After analysing this pair I believe it is a short order. Please share your thoughts.
Price just break the bullish trend line. wait for the retest or look for a any corrective move to the upside to go short . Good luck to you. If you liked this idea, please like , share and subscribe to my profile.