Here as you can see audusd has broken out and i'm hoping for a slight retest to get a better entry. I am confident about this break out as audusd is in a significant downtrend making it a continuation pattern
Here is my entry requirements for the long term gold trade I just uploaded.
As you can see, price hit a bottom and then started to make higher lows and a break above structure will let us see higher highs. The ideal situation for me will be for price to break above structure, pull...
So Gold has now reached a very significant monthly zone where we could see a reversal. Price is also at the bottom of a descending channel, however I will not be jumping straight into this as I have some conditions to meet on lower time frames before I trigger my entry. Check out my next post for my 4hr analysis and entry conditions.
I recently posted the completion of the bat pattern on GBPUSD. My condition for entry on this pair will be for price to break out of the descending triangle and descending channel it is currently in, I will wait for a close above on the 4h time frame.
Oil is currently at a very key level. The 2008 financial crisis support level. Price has been above this level since 2004 and this level was also previously resistance. Will we see a rejection? My point of view is yes.
Here with a nice Gartley pattern completion on the Aussie
Reasons I am not taking this trade:
1. We have just broken out of quite a significant downward channel which started from below meaning that there is a high probability that this is a continuation pattern.
2. If you go over to the daily chart, in my opinion the AUDUSD is currently bullish as we have...