As candlestick trader , I must learn to apply trendline . My reason is I consider , population of trendline traders is so many around the world.
Let together we see this AUDUSD , is it will go up today ???
I see bullish engulfing , and consider there is empty space if we draw trendline start from big timeframe ( weekly and daily )
In the weekly timeframe, it is clear that there is a THREE INSIDE DOWN pattern.
I better wait for prices to go up a little, then I will open short positions at 135,095, stop loss 135,771, and final target at 133,447.
** potential profit is 164.8 pips
*** potential loss is 67.6 pips
Hi traders, my name is Arya , from Bali - Indonesia. I start trading in...
Before I was sent my previous analysis about this USDINDEX will dropping, because it touch FR 88.6% ( you can go to my profile and search )
And you can see, that it is true!
USD Index however keep moving down to fulfill wave 5
This is one of some analysis that I was shared to my students on the group.
Based my experienced, I NEVER BELIEVE analysis using trend line ( diagonal line ) will give me high accuracy !!!
And this is the evidence, AUDNZD after price breakout the top diagonal orange line, the trendline trader , I am pretty sure most of them thinking price will continue up and...
Wave 4 as a correction wave has moved to touch FR 88.6% of wave 3. This is like repeating past movements, where wave 2 once corrected 88.6% of wave 1 !!
FR ( Fibonacci retracement ) 88.6% ( or 0.886 ) = square root of 0.786
0.89905 is crucial point! You can see it is a strong resistance!
Price two times try to breakout 0.89905 , until make dobel top potential
Consider 0.89905 as FR 78.6% too, so power of buyer become weak. For me 70%, soon price will huge drop!!
USDJPY on weekly timeframe, PIERCING candle was confirmed ( see the red circle ).
And better buy stop at 109.140. Potential price to 111
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