EUR/AUD - H4 - 2618 & Bat Pattern We are looking for a D leg completion of this Bat Pattern for our buy orders to be triggered. The C leg of this bat pattern didn't exceed A, so in my rules this is still a valid Bat Pattern. Having now retraced back into the 61.8% Fib level, we can also trade this as a 2618. Rules Of Engagement 2618 - Double Top - Break below...
AUD/USD is sharply higher breaking the 0.80760 top from April 29th and extends the recovery from the lows set last week and during the month of April. Since mid April this pair has been putting in higher lows and we believe this trend will continue. We are looking for AUD/USD to test the top trend line of the reverse triangle and will be buyers ahead of this...
AUDUSD 4h TF - A possible Bearish Butterfly
AUD/JPY is back to pressuring 95.950 level with the ascending triangle suggesting a break higher to extend recovery from April lows. Support now at 95.000, 94.330 and 93.300 levels. We see these levels protecting the downside and suggesting not letting any losses exceed the extreme support level. Targets 97.100, 97.400 & 97.660 levels. We will be buyers on a...
This is a technical based: 1. Ichimoku: Lagging line has penetrated through the bearish cloud = Bull Alert : The price is above the cloud. : The price above the conversion and base line : The conversion line is also a s/r level. Possible retest of the likely needed. 2. MACD has failed to cross. Alert:...
AUD/USD - 1H Chart - Advanced Patterns Everywhere! AUD.USD is giving us many advanced pattern setups so early in this week. We must see a completion at D leg before any pattern entry is triggered. - SL must go below X - Target 1 at 38.2% retracement - Target 2 at 61.8% retracement Good luck.
Technical: - Possible AB=CD to be formed with parameters of 78.6/127.2 respectively. - The new high has failed to form. Another indication of bears in power. - MACD still indicates the bearish sentiment. - support line 1 has aligned with -27.2 and 127,2 Fibonacci levels. - The market looking to form point D Fundamentals: - We know there was some bad news for...
With the employment data out tonight, entering a sell trade with the stop above 0.81 - 0.82, is a good risk/reward opportunity. The fundamental reality is that the US economy is growing leading to higher rates, while the Australian economy is slowing with the RBA trying to lower the exchange rate. On the technical side we have a MACD crossover and a bounce off...
We've had a hell of a ride as of late on the AUDCAD. Through some difficult pattern trading weeks this pair has been the one keeping my head above water. We now have yet another Cypher pattern that just completed minutes ago. In all honestly, I'm fully expecting a loser on this one. Why? Well it's just the numbers. Even with the Cypher having a completion rate...
*Position Update: On 05/05/2015 we liquidated both sides of this correlation trade with a profit of 73.1 Pips while taking advantage of the correlation spread narrowing after the interest rate decision in Australia. A nice correlation trade is setting up between AUD/JPY & CAD/JPY. The spread in the correlation is currently 200 Pips, over the past year the max...
As I have shown in chart, 2 powerful bearish patterns, Bat and Butterfly, are forming in a tight zone. I favor putting sell limit orders in that zone, targeting 38.2% and 61.8% retracements. Good luck, Ali Sharifazadeh
This correlation trade between AUDUSD & GBPUSD is setting up very nicely. The description and reasoning for the trade is on the chart.
Larger timeframe bias is bearish. We have a 60min CTL which if broken will bring in to play shorts back to the based if the daily range at 0.7570. MA cross and the lower highs forming are our first signs we could get a break now just watching closely.
We are awaiting a break of the range base before activating long term shorts. Providing this happens as expected we will first target the -27 fib extension at 0.7360 followed by the support level of 0.7210 which is the range height added on which aligns with historic levels of support and resistance.
BREAK RETEST CONTINUATION PATTERN. PRICE BROKE OUT OF SUPPORT WHICH HAS NOW TURNED INTO RESISTANCE. PRICE HAD TESTED THE RESISTANCE THEN BOUNCED OFF FORMING A INVERTED HAMMER. THIS LEVEL IS ALSO IN CONFLUENCE WITH THE 0.5 FIB LEVEL AND 20 SMA IS WHICH ACTING AS A DYNAMIC RESISTANCE
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
This is all technical analysis. This is a new and rarely used pattern goes by the name of Total Bullish. I encountered it from a Russian forum. The pattern has got its unique measurements of . I am expecting the bulls to loose their control at level 0.77328 which will be our take profit. My entry level was the blue coded line (0.757780) Stop loss...
PRICE HAS JUST MADE A HIGHER LOW WHICH LOOKS LIKE A GOOD OPPORTUNITY TO GET IN WITH THE UPTREND. THIS COULD BE A GOOD CHANCE TO GET IN BEFORE THE RBA STATEMENT ON TUESDAY. THEIR IS A VERY GOOD CHANCE THE RESERVE BANK OF AUSTRALIA (RBA) WILL CUT RATES WHICH WILL SIGNIFICANTLY WEAKEN THE AUSTRALIAN DOLLAR WHICH WILL CAUSE THIS PAIR TO APPRECIATE. THE REASON WHY IM...