About meWe specialise in price action strategies and swing trade setups. Trade setups are determined by a combination of technical events. Technical events include inside bars, pin bars, fakey setups, outside bars, support/resistance holds, support/resistance
Joined 8 months ago
As discussed in our Weekly forecast, AudUsd is busy carving out a potential Bearish Cypher pattern.
So far all the rules have been met, last rule is to sell at point D (See here the rules of Engagement)
We are looking for a last push higher (bigger exhaustion top) near 0.7620.
A new high will scream bearish ...
January is historically one of the best months of the year for Gold. Remember our seasonality analysis on Gold? We said buy end of December, Seasonal tendencies
Now on the 4 hourly graph, a well defined bullish slope is in play
Support at 1163 and take profit/resistance coming in at 1200
This is great stuff, text book ABCD pattern. Leg CD underway
For this pattern to be valid we need point C not to close above the 78.6% retracement of AB. Remember Point C can extend beyond the 61.8% retracement of AB but no candle should close above the 78.6%