Why I'm NOT BUYING just YET: - So far this is not a BREAKOUT - Wait for a Higher High / RS Flip - The first attempt to breakout was rejected with long wick Looks like a fakeout so far... If you are SHORT: - Stop above the last high - Around ~ 0.726 Possible lower targets lined out below...
Wait for a break and close below the wedge to enter. Watch price action closely when we hit the lower support fractal as it's a strong weekly level. Depending on the price action you can consider closing 50% of your trade and moving your SL to BE or taking all of your profits - it depends on your trading style. The risk to reward on this trade is very good so...
We've just broken a wedge on AUDJPY which activated shorts. With the current market sentiment this is a great pair to be short. The targets are indicated on the analysis - it's up to you to place the proper stop loss. Happy trading!
this has hit the 0.618 fib retracement personally will watch this closely as it might retrace to about 0.382. i am expecting this to drop. once it breaks the blue line, should hit the 1.618 fib extension like, follow and comment :) see previous chats especially the weekly one too
The only way I see this going is down, I posted an analisis 2 weeks ago about the .71500/ .71000, but i can really see this going all the way to .70000 and thennn come back posibly to .73500, but thats too far out to tell, this month is looking pretty bearish.
- AUD/MYR - Possible Inv HVF - Short - Took an early entry - risky trade
AudUsd - H4 - Sell setup on aussiedollar already triggered.
The pair has finally come out from the consolidation and now is trading below this range. The move was pretty abrupt and was supported by increased volume. Also we need to point out the level of resistance 0.7811, where large volume is concentrated. Given the facts above, we should open short positions after a smooth upward correction to obtain a better price for...
TG 1 = 90% probability TG 2 = 72% probability TG 3 = 54% probability
Price rebounded of the Daily/Weekly channel resistance trendline, made an impulse and now its correcting forming an Irregular flat. I think the move to the downside is about to start any second. I would place the stops above the previous high because i dont think twe are going higher than that.
Rejections at 1.003 and 1.004, which also happens to be a historical structure area and a 0.618 fibonacci together with weakening momentum. These key points build this case for me. Aiming for first profit at 0.994 and final at 0.988
It is possible to rollback downward from the downward resistance level of the long-term consolidation model.
I agree with Kathy Lien's analysis in this article. There is a strong opportunity for an AUDUSD short here, especially with the potential for a slight USD recovery this week and next due to rate hike expectations. www.investing.com However, this will ultimately set us up for a swing buy, hopefully around 0.73000.
Structure, trend line, and a fibo 0.618 are all fighting together for me on this one. I will watch closely and keep trailing tight after passing 1.0 down at target two. For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
It is possible to form the "Head and shoulders" model with a target level in the region of the level of long-term support.