Price violated previous support (bearish structure break) but moved back above it. Now price has been moving sideways and is potentially forming bearish Gartley pattern.
D point is at support/resistance level that has been tested several times earlier (red arrows). This gives some extra certainty to sell at this level.
Potential bearish Gartley pattern on AUDUSD.
I´m looking for an opportunity to get short at Potential Reversal Zone (PRZ). RSI is already overbought. Once we´ll get inside PRZ, I´m waiting for some sort of a confirmation for price to turn down. If we get that, then I may enter.
Potential bullish Cypher pattern on AUDJPY
D point (potential reversal area) is on a level that worked as resistance earlier. Now I´m expecting to see buying action there. This is potential support level.
There is also an ascending trendline to be tested on that same level. If the trendline holds and price stays above it, we might see price moving up. RSI is...