Will be looking for rejections on either side of each support and resistance within this consolidation zone we have created on the 4hr.. Possible rejection for a reversal? we never know and id rather be positioning myself for entry's to try catch it if we see that scenario.. but also as always never forget overall downside direction the the different time zones!
0.618 FIbo, seems to have provided resistance to a pull back in the past, will it occur again? We shall see. While this paid is obviously bullish, it may be an area where a pullback for 50-100 pips occur.
The structure of AUDUSD decline from Jan 2020 high has been unfolding as a textbook Elliot Wave five-wave impulse move, labeled (i)-(ii)-(iii)-(iv)-(v). Wave (ii) was a sharp correction and wave (iv) unfolded as a triangle. A triangle always preceded the last move of a sequence. The whole structure perfectly fits into a downtrend channel. According to the...
As predicted in our previous analysis, AUDUSD has just failed to break the Potential Reversal Zone which we view as bearish. We expect price to continue to fall in the long-term, with minor bounces most likely at the former downtrend (dotted green line) and S1, which may look to retest the Potential Reversal Zone. Look out for an M or Head & Shoulders Pattern as...
Here we have support, 100 EMA and trendline that meets and give us a potential reversal area. Looking for bullish evidence to take a swing long on this pair. Please comment and write your thoughts on this idea so we can learn from each other!