Enter the market with a short position at Pivot Point Level P (0.999). If a pin bar or rejection candlestick doesn't occur at that price point, then consider discarding this trade Idea.
AUDUSD; Pivot Point; Ascendibg Parallel Channel; Pin Bar; P (0.694); R1 (0.694); Entry 0.69471; Target R1 (0.703); RR 4.74;
P (1.219); Channel Support; Pin Bar Candlestick; Entry Price 1.22150; Take Profit Price 1.229
USDZAR Engulfing Candlestick Pattern; P (17.06); P (17.06);
LNKUSD Confluence: Pivot Point P (6.58); Channel Support; Pin Bar
Resistance (1.70395); Pin Bar
P (0.687); R1 (0.687); R1 (0.688)
P (1.12) ; EMA 10 ; EMA 20 ; Engulfing Candlestick
P (0.853) ; Exponential Moving Average Period 10 ; Exponential Moving Average Period 20
Confluence P (1.413) ; Channel Support ; Engulfing Candlestick Entry Price 1.42404 Target Price R (1.444)
Confluence: P (1.54) ; Channel Support Entry Price 1.55161 Target Price R (1.602)
Confirmations: R1 (0.804); Channel Resistance; P (0.819); Horizontal Resistance
P (83.71) ; Channel Resistance || Candlestick wick high touched Pivot Point Level and Channel Resistance.
Price rejected ascending parallel channel support level. (Date Wednesday 2023-Jan-04, Price 1.54979) Expect EURAUD price to increase for the next 5 trading days.
R1 (0.688) ; R1 (0.687) ; R1 (0.686) ; Channel Resistance ; Price rejected 3 Resistance levels from the Pivot Point Indicator. The currency market is bearish.
Pin Bar formed. Inside Candlestick formed.