AUDUSD broke a level of structure/previous low back in early August. Price pushed back into that price creating a lower high.
Price struggled once reaching new support/low again, however on the lower time frame you can see price slowly transitioning to the down side.
Currently seeing a potential inverted H&S on the D time frame.
Price was creating lower lows, and lower highs, however failed to break the last low, stalling at previous minor resistance/now support.
At this point, there's possibly the right side forming. We will see a confirmation when the bearish TL on the daily is broken followed by a retest.
Taking a look at the WEEKLY timeframe,, price closed engulfing the previous weeks candle to the downside. It is a strong possibility that price will be bearish this week. However if it isn't I will still be prepared for the bullish move as you can see identified on the 1H timeframe.
Price is current sitting at a strong price point with signs of exhaustion. So it...
Initially I was BEARISH on AUDCAD, however, after taking a look back over the charts, price has struggled to go lower over and over again. Last week price failed to break the low.
Price has not yet broke the recent LH either, but it is showing strong signs of 100% retracement or higher. Price has displayed lots of exhaustion to the down side, and failed to reach...
Last week price rejected from a strong confirmed resistance level, tapping it three times on the 4H time frame, then dropping. Price has retraced up to a recent minor support level, now resistance, as well as nears a previously broken bullish trend line.
Looking to sell short term.
ETH is currently rallying up towards the 230's.
Bulls are showing control. Broke through a strong previous daily support area since Sunday.
If price breaks the 230-233 area, I will be looking for to price going towards the 280's.
On the Daily time frame, price is still in a downtrend. Price has not yet transitioned. Price has to break the most recent LH on the daily time frame for BULLS to confirm control.
Price looks to currently be completing a pullback, then continue bearish.
GBPAUD had a strong bullish close last week. Looking forward to more bullish movement this week, as price continues to transition. Beginning on the LTF price began to create HLs.
Also, the weekly time frame is showing signs of a complete pullback, with a strong weekly candle close to end last week.
Of course there will be some pullback opportunities on the LTF...
Price breaks bullish trend line , confirming that bears are still in control. Price didn't hold for bullishness. Now, we sit back and wait on a pull back into the counter trend line/previous broken support.
Daily is creating LHs, and LL.
A strong support that has held price for the last couple weeks, continues to hold, also breaking a bearish trend line on the 4H time frame. We should see some bullishness into the previous daily LL, maybe even higher.
Price breaks bullish trend line, confirming that bears are still in control. Price didn't hold for bullishness. Now, we sit back and wait on a pull back into the counter trend line/previous broken support.
Daily is creating LHs, and LL.
Last week, price finally broke through a very strong support level, indicating that price will more than likely go to the next price zone. However, first there will be a pull back into previous structure. But still, bearish overall.
As the the week came to an end, the bears took full control breaking through a huge support level. Going into the new trading week, I will be looking for a nice pull back into previous structure, as price creates a LH, then look to sell to the next zone.
Starting on the daily time frame, price has created a nice triple bottom, or some may consider it a double bottom. However, price visited this support area several times, and finally broke out to the upside.
The 4H shows a clear break of a bearish trend line as the markets closed last week. There was some signs of exhaustion based on the wicks right before...
GBPAUD closed strong bullish candles last week, daily and 4H.
But this is no time to jump in just yet. Price will pull back into previous resistance which will now be support before continuing the overall move.
The strong daily closes and break of resistance, and consolidation shows there's more bullishness in this pair, the bears have taken over.