Hello Traders,
In this Wolfe Wave I want to highlight the internal moves between the points.
Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on.
ab=cd
Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in...
Your comment or Like is highly appreciated.Thank you!
AUDUSD is due to correction from technical prospective.
Stochastic is extremely overbought and price is just at resistance from the last year. Traders might take profit and walk away from the recent strong up move driven by predominantly increase in commodity prices.
I expect smaller correction toward...
AUDUSD seems to have completed Bearish Butterfly Pattern.
RSI is also indicating for the movement to continue downside, being in the Over-Bought scenario, which is confirming as well on the completion of Harmonic Pattern - Bearish Butterfly.
We favour Shorting AUDUSD, for targets 0.7050 zone.
AUD/USD ( HOURLY )
SUMMARY:
The short term trend of AUD/USD is bullish on charts and price is trading above 200 DMA and 50 DMA on 4 hourly charts with appearance of golden cross. It is having an important resistance at the level of 0.7260 and support at the level of 0.7110. If it breaks its resistance level on the higherside and sustains above it then we...
AUD/USD ( DAILY )
RECOMMENDATION: BUY
SUMMARY:
The secondary trend of AUD/USD is bullish on charts and price is trading below the trend line in its daily chart. In daily chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7242 and support at the...
Draw your charts. Paint them, the message will come to you.
Daily Charts - AUDUSD, indicate a further drop to occur to the 161.8 Fib Zone at 0.6150 levels in coming weeks..
A move above 0.74 zone, would indicate a slight change of trend, but staying Neutral at that point would be healthy.
Current situation is developing great for the SHORTS.
RECOMMENDATION:BUY
SUMMARY:
The secondary trend of AUD/USD is bullish on charts and price is trading below the trend line in its daily chart. In daily chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7240 and support at the level of 0.6825. If...
Great spot to be in guys...
SUMMARY:
The secondary trend of AUD/USD is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7152 and support at the level of...
RECOMMENDATION: SELL
SUMMARY:
The primary trend of AUD/USD is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is had an important resistance at the level of 0.7150 and support at the level of...
So I know there are a lot of people jumping on the bandwagon for AUDUSD Shorts but as you can see that Aussie broke below the daily/4 hourly triangle and is retesting. This is also confluent with important fib levels.
As you can also see there is RSI Divergence on the 4 hour chart. This is used additional confluence.
I would have stops above 0.7250 and targets...
We had a recent symmetrical triangle that lasted four months time. This past week we saw many pairs begin their pullbacks and with the AUDUSD pair we have a lot of confluence supporting a trend continuation.
