Analysis of #AUDUSD
A Bullish harmonic butterfly pattern near the entry point for a buy but it still not test inside the support zone, be careful if you want to take the pattern as might extend below the low before reversing to close inside the zone
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We have a ‘double resistance band’ at 1.5458 this week. With this lining up with the Butterfly formation, it offers a downward bias (from 1.5458) towards 1.4600
I will update if/when the trade is triggered and if we get the TL scalp set up for initiation
Open - 0.99950
TP1 - 0.94742
TP2 - 0.89221
TP3 - 0.87426
SL - 0.01134
Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
Motion AB: Point B is the most important level of the impeller pattern, which should be at 78.6% of the XA wave.
BC movement: BC movement should continue until the Fibonacci retracement of 38.2% or 88.6% of the AB wave.
CD Motion: If BC is 38.2% of the AB wave, the CD wave is likely to reach 161.8% of the BC wave. But if BC is as much as 88.6% of the AB wave,...
Hello traders. This is a NZD/USD hourly chart. I don’t want to focus on the fundamental factors here, but you should keep in mind that the fundamentals change trends in the Forex market. In any case, we follow technical bias, so here we have a butterfly pattern that suggests a possible short-term opportunity to sell. As you can see, the butterfly extension of...
NSE:BEML has been trading in downtrend due to market weakness and has also broken the neckline support. It has activated two possible harmonic patterns, Butterfly and Deep Carb. Targets are 1040 (target #1) and 760 (target #2) respectively. Both targets are very important levels. So price might reverse from either of them, most likely from target#1. If market...
$SLP broke down from support zone and need to confirm it as support, also it shaped butterfly pattern.
🐻 price can drop more to support zone between $0.011 and $0.009.
🐻🐻 break down from support zone can drop price more to $0.003 to complete Butterfly pattern.
🐮 holding the support zone of $0.009 and break out from resistance zone around $0.018 will...
This analysis is purely a personal analysis...
2. Classic channeling
The currency is in a downward trend, which in Elliott terms is a combination
The bearish trend is expected to end soon and two prices are set to reverse the trend
Of course, increasing the trading volume is one of the...