A 4-hourly chart shows a potential bear bat setup, at 12.30pm(+8GMT) there will be an Australia Bank Interest and I do see a potential of rates cut.
Coincidence?
I, already have my trade plan, have you?
on AUDUSD I anticipate seeing one more leg downwards.
Execution - wait and sell bearish breakout of a bear flag pattern.
Stop above the highest point of the flag.
T1 - 0.695
T2 - 0.693
Markets actively discounted under the monetary policy turn in the United States. In this light, the current decline and weakness of the dollar are quite understandable. On the part of officials, comments about a possible rate cut sound more and more actively. In particular, recently the St. Louis Fed President Jim Bullard, said that lowering the rate may be...
Price close to April low 1.8097 - that is a powerful level
I wait on fake broke to open buy entry because many traders hide their stop losses below such level
strong bullish momentum on audusd pair this Monday.
I will be looking for a pullback around 0.698 structure resistance level.
this level matches perfectly with structure on the left and completion point of ABCD pattern.
I don't trade much Forex but this looks like a good buy for a trade that can last a few months. I also see Australia just had an election this weekend so that could have an effect on a reversal. The time bars are to see how long the price can hang out at a level before it takes off. In terms of options there's an ETF $FXA that has extremely cheep long term options...
Crude Oil
Bought and got stopped.
I am now looking for a retest of the lows to get in. Am seeing it make a double bottom and rallying.
I think the shorts covered. Sellers are out. Those that shorted previous support turned resistance around 65$. Time for buyers to step in.
Especially if the price goes to test the lows slowly. But the right way, not like trending...
AUDJPY looks heavily oversold with clear rsi divergence.
we have a completed head and shoulders pattern on 4h chart.
if bulls break a neckline, we have a high chance to see a pullback to higher levels.
