Currently, AUD/USD is trading 0.6903. The pair is consolidating in the resistance and support levels. Previously, the pair was trading in a down trend and after touching support level, it started consolidating in the resistance and support levels. If the price breaks the resistance level at 0.6975, then it may start a new up trend and its target price will be at...
Similar to AUDJPY, AUDUSD has also broken a counter trendline and formed a double bottom pattern (valid on H4). Price has retested the neckline and is forming a potential H1 bullish engulfing.If current conditions hold, I will look to buy until the market his .71000
Audusd - H4 - selling at cmp with a decent risk to reward setup
This is just an updated chart from my previous chart posted last week, will be looking for a bear flag continuation towards the downside, if you missed the move last week and looking to get into this trade ill be scaling in another position depending on how the market moves. Will be looking for either a 2 tap or 3 tap of the top of the trend line for a downward move.
Let's see how far we can take this short and remember to lock in profit, especially if it drop 40 pips down from your entry.
There is a potential short set up for the AUDUSD pair, will be looking for it as a short term sale, but if the downward trend continues I will be letting the trade run till the next monthly key support. I will only be going in on this trade if it corrective goes up to the given area, If it goes up impulsively I will not take the trade but will sit back and watch...
This is the way price action unfolds unless there is a news spike or big volume push up.
Here is my full wave count on AUDUSD. Wave (5) in the current main wave with another five sub wave in it. In the sub wave, wave 3 is currently active. The five wave (sub) of wave five becomes invalid only if price settles below 0.65123. Please leave a like if you agree with this setup.
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Looking for the double top for the big short which happens to align almost perfectly with the .786 fib
there is both bullish gartley and butterfly pattern. I made a cluster for both. closing under support zone may the stop. also I can try to take a short position if retest the trend.
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On AUDUSD 4-hour chart, we see double top formation. T3 curve and simple moving averages (ma10 and ma20) have turned their directions down.. I expect a structure as I mentioned in the chart.. We will wait and see.. Disclaimer: Please do your own due diligence when it comes to forex-trading.. Invest at your own risk.. I wish you all the best..