Macd rolls over as price approaches mid range support. A drop below this opens up the price to stronger support. A drop below this and we are looking at a mid .60 handle. MACD is one of the most reliable indicators that is extra strong when used in the context of other indicators.
Hi Traders, We can see that from the initial low put in early last month AUDUSD has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday)...
there is cypher developing on 4hr TF. IF bearish reversal candlesticks like bearish engulfing pattern or dark cloud cover or evening star forms at that PRZ, and still we have divergence on MACD, its a good opportunity for going short. PRZ completion for cypher is 78.6%
been rangebound since August. Cypher aligns nicely with the top of triangle for a nice pullback to .715 that sits on the bottom tl from the first channel from the initial drop.
cypher complete Will link daily chrart below
As Australia is a main exporter of Copper, there is a strong correlation between the metal and AUDUSD rate. Recently, there has been an ongoing divergence between these 2 instruments which usually move in tandem. While Aussie has been registering higher highs and higher lows, Copper has become under sever selling pressure and its August lows have been breached....
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On the AUD/CAD 4h chart we have a potential long opportunity at the D leg completion of a Gartley Pattern. The price reversal zone is between 0.9300 & 0.9245 which is a strong psychological whole number. The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Gartley Pattern placed at...
The AUD/CHF chart is something I have been watching for a little while. I have been very bearish with many of the Aussie pairs on both a fundamental and technical level for some time, so it is no surprise that the AUD/CHF has taken a skydive this year. Although I don't trade the daily chart I am cognizant of the approach and then the break and close above the...
Gold's Behaviour May Signify An Upcoming Reversal For AUD/& NZD Pairs Potential Sell Setup Shown For NZDJPY, Awaiting For More Confluences To Line Up (Especially If Gold Indicates More It Does Not Wish To Trade Above Key Monthly Resistance) Gold Outlook On Potential Reversal
On the AUD/CHF 1h chart we have a potential long opportunity at the D leg completion of a small Bat Pattern . The price reversal zone between 0.6895 & 0.6905 is very narrow on this setup, this is due to a deep B leg retracement. The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Due to a strong B leg...
On the AUD/USD Daily chart we have a potential short opportunity at the D leg completion of the Gartley Pattern. The price reversal zone that is of interest is between 0.7377 & 0.7438 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. This particular PRZ zone has some nice confluence from a strong...
Confluences: 1/ trend 2/ 50 ema bounce 3/ doji 4/ deceleration 5/ fib play 61.8% 6/ Bullish MACD 7/ 2.145 as support Took this trade last thursday ( Sept 17 ) but again because of this pullback today, 400 pips are still on the table, 170 pips are currently in profit. I see this pair go to 2.20
Suspecting another move to the downside for this pair. Many confluences here: -Lower swing high with tweezer top characteristics. -61.8% fib pull-back. -Counter trend line break. -Current daily candle engulfing 4 previous days of price action
Very clean detailed S/R x Fibonacci retrace analysis, 62.8% retracement occurring last 2 candles suggest bullish momentum is dying out! This trade for me is a channel trade, I use Fibonacci and S/R to add confluence. Please zoom out and examine these areas The diagonal channel is 3 - 4 months old and very valid and we have seen price already bounce off the top...
Last week closed with price forming a hanging man in the high confluence area of the medium term trend line and key 0.7100 support turned resistance. This also coincides with the daily 0.618 Fibonacci retracement. Weaker than expected data from china over the weekend may once again translate over in to the already bearish commodity market which in turn will...
Aussie bends pound below daily and hourly trend lines. The breakout of those trend lines coincide both at the same level. ___________________ Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two. Typically, when the...