*Bullish Bat Pattern waiting for the completion of point D *Retest an Important support as well
Bullish Deep Crab Pattern & Bullish Divergence
AUDUSD is at a significant zone as the Daily candles have just wicked on to the Monthly support line. Now a trendline does not always hold or fall on a first touch. But in support of a swift reversal, we have a possible harmonic pattern completion - a 'Bullish Deep Crab,' right around the price-contact-point of the monthly trendline support. So this presents a...
Hello everyone ! Seems aussie is moving in a downward channel since mid May. I expect the price catches its bottom of this channel around 29-30 July, from where I expect a violent rebound up to the marked 38.2 % FIBO retracement (0.7740) of 1-July high and projected 29-July low. So here is the anticipated deal: BUY LIMIT @ 0.7065/70 - VALID UNTIL 8-Aug 23.00...
Double bottom on the hourly chart. A break on the neckline suggest to go long to 0.76000 (previous support - hopefully turned into strong resistance).
With the recent release of the Employment change and unemployment rate both being positive and the up [coming FED hike for the USD an increase is inevitable IMO.
If We Get Close Above The Trendline Of The Candle Then We Buy For Take Profits At The Flag Entry At Trendline Close Exit At Flag Stop Below Trendline
Let's see if the opening of the market does not fall 200 pips and invalidate the pattern in a tick* ;)
Adding a final long at the .77 level will be holding this until December if not stopped out currently still holding to longs back from .763 and .768 I feel that I wan't to enter 1 more time though and just leave it to grow. Added with the DXY weakness and beginning of inflation for AU I believe this can be a great long term trade with the potential for big rewards...
Currently there's no detailed explanation for the pattern as it has not fully completed. Look at previous structure for PRZ
boafx.co.uk - The fundamentals for the AUD/USD do suggest that we should see further downside, however the USD data that comes in better than expected is not having the desired effect on the markets hence the reason for this double trade set up. Notice that the trades are 3:1 risk reward ratio so even if one triggers on a fake breakout but then full fills the...
Here we got one more of the infamous bullish Cypher patterns in a very sideways choppy market, RSI still needs to come down a lot just as price have to, so watch out for the price action when we get more near the entry level. We got a lot of news this week so it can make for some even more choppy market conditions. Kind Regards Thomas Jeff