Allow 2 candle confirmation on H1 chart. Choose to ride the downtrend to support or wait for support and BUY.
audusd been trending upward for couple of weeks now. this gartley pattern shows that theres an order to fill up before the bullish run continues.
4 hr mitigation candle has been hit, looking to catch a small move down in order to take gold a lot higher. Overall bias is bullish on gold to take out the old high.
Looks like a descending triangle, looking for entry on a lower time frame retracement. Turquoise line represents a whole number and it also shows the open of a sell to buy candle if you look to the left.
Equal lows right above where the next 61.8 fibonacci retracement is. Also a whole number (1.27000) and could be the end of the correction and beginning of next bullish cycle. Next target is 2.618, as 1.618 has been breached over the last two weeks. Expecting a liquidity grab before moving up. Maybe even as low as 1.26000. If price does travel down that way, would...
I am looking at a potential buy area to fill IPA and also take out liquidity that was recently created.
Here is something that I am currently waiting for to play out we are in a distribution phase on GBP AUD Will be looking to take this to lower prices to clear out all liquidity down below follow me on Instagram: @crisqpips