Most of the traders face one major problem in trendline, why the candle breaks my falling trendline but still going downside?
Most of the time isn't about plotting the wrong trendline, but how we analyze it.
First, we must remember the market phase, Accumulation, Re-Accumulation, Distribution, and Re-Distribution.
Second, determine incline degree of a trend....
Bearish AB=CD pattern formed at the resistance level in 4 Hour Chart
target level at:
61.8% retracement - 1.5815
Conservative target - 1.5870
furthest target level can be 61.8% of the previous swing point and also the next support level - 1.5615
AUDUSD reached its support level, with a rejection candle and a Bullish Butterfly at 4 hour chart formed.
With the falling trendline and falling channel, the reversal trade are targeted at 0.7265, 0.7305 (61.8% retracement) and 0.7355.
A bearish Head and Shoulder Pattern forming and Volume are decreasing, projecting a huge movement ahead.
Short this pair once the price breaks the 112.32 Price Level