lovinmulika

lovinmulika

Here is why I am intent in selling AUDUSD at the week's open: Weekly: -we have three consecutive weekly candles that make it clear that momentum is in favor of the bears and they are currently dominating the market -we closed the week as a doji, but one with clear momentum illustrated by the weekly candle to the downside -it is this momentum that I am counting on...

lovinmulika

Here is the reason why I am anticipating this sell: Weekly: -we have an initial push to the downside off the key institutional level at 0.69000 which provided a level of sell orders at the close of June -we are in a new sell cycle and have initiated sells in a strong manner, establishing momentum to the downside at the onset -this momentum is the key reason for...

lovinmulika

AUDUSD is on a bullish assault and is currently offering buys for the near-term Here is my rationale: Weekly: -we broke structure on the weekly to the upside recently, especially after a long time being both ranging and marginally bearish -we printed two strong wicks in the past two weeks to the downside, the last culminating into a hammer candle -this indicates...

lovinmulika

Here are my reasons for the bullish outlook on AUDUSD Weekly: -we broke structure to the upside, clearing through the consolidation zone between 0.66000 and 0.68000 -the weekly candles (last three candles) indicate a strong bullish momentum currently dominating the market -current weekly highs of interest are at 0.68997 and 0.69207 H4: -we have been on a strong...

lovinmulika

Here are a few factors to consider as we take on this outlook on the pair: Weekly -the weekly structure is STILL bearish, regardless of the current bullish push -we have returned to the ranging market parameters we had seen in the previous 12 weeks prior to the week of 20th May -0.68000 and 0.66000 played a pivotal role in price action during those 12 weeks -we...

lovinmulika

Here is the Framework for this buy opportunity: Weekly: -we remain bearish on this time frame -we recently came out of an 11-week crunch/consolidation zone, breaking to the downside of it -currently, we have a bullish push on the pair, closing last week's candle as a bullish piercing -I reckon this momentum to be liquidity-led and we shall collapse once the hunt...

lovinmulika

Here is the framework around this sell idea: Weekly: -bearish structure -last week ended up closing as a doji whose wick to the upside is longer than the wick to the downside; indicative of stronger bears in the market than the bulls in the course of the week. -we closed pretty much at the previous week's close, whose candle was a strong bearish...

lovinmulika

Here is the framework for these two sell setups: Weekly: -we remain bearish, albeit the ranging markets and consolidating behavior -the pair has been trapped between 0.68000 and 0.66000 key institutional levels for the last 10 weeks! -this implies that most of the price action within these two levels has been in a bid to collect orders and liquidity for when the...

lovinmulika

Here is the framework surrounding this idea: Weekly: -we remain bearish. -we opened a new cycle of the market at the end of Jan'23 with a rejection off the supply levels as well as a grab of liquidity off the highs. -we pushed and have retraced to the 38.2% fib level on the weekly. -previous momentum prior to the current price consolidation indicates bearish...

lovinmulika Updated 

Weekly: -remains bearish in my opinion -closed very bullish -high probability of opening bearish on the short term Midrange: -tapped into a zone of orders/supply level on H4: -Friday low at 0.66890 the most preferred level to grab liquidity and rally thereafter -50-60 pip potential Trade plan: await a close of the spread window (usually 1hr into the market...

lovinmulika

Here are a few facts about AUDUSD that have influenced the decision to sell- all the way to 0.62000, if all goes well...with a mid-term/near-term target of 0.65600. 1. Weekly TF: -we have been bearish since we hit 0.71000 to the upside. We tapped into the weekly supply level hereon and have since gathered liquidity by tapping into the monthly highs then...

lovinmulika

Here are the key things to note about this trade: Weekly: -we are bearish on the weekly. -we actually picked up momentum toward the end of the month and printed a strong bearish momentum candle after 6-7 straight weeks of wicks to the upside on the weekly chart. -this momentum candle is an indicator of orders getting filled and potential for more price action to...

lovinmulika

As we face the Initial Jobless Claims report and US GDP report as well, I will be seeking a strong rejection from 0.66400 to short the pair and aim for 0.65900. Key Points: -we are in a strong bear market -H4 points to a minor retracement based on the strong momentum- and, as such, a 23.6% fib retracement setup would be a good level to have a...

lovinmulika

Weekly: -AUDUSD has been in a crunch/ consolidation zone for the last seven (7) weeks. That means that since March, we have pretty much been moving within a certain zone of price. -The previous weekly bias was fairly strong in favor of the bears. There is a higher likelihood, statistically, of us picking up the previous bias/momentum and dumping to...

lovinmulika

Here is a breakdown of AUDUSD and why I am in a buy position: Weekly: we're bearish overall. However, the market has been in a consolidation/crunch environment for the last 7 weeks. Therefore, I am relying on the intraday time frames to determine my bias. H4: we broke structure to the upside on Tue, April 11th. We swung to the upside and tapped 0.68000...

lovinmulika

I have previously detailed my reasons for being largely bullish on AUDUSD. IF my assumptions are correct, I believe we are at a point of great opportunity to capitalize on buys for this pair. If you check on the monthly TF, you will realize that we may be looking at a potential inverse head and shoulder in case the price shifts to bullish (formed by the head at...

lovinmulika

AUDUSD is at a level of contention- we could go absolutely bullish or shock the market by flailing to the lows. Both scenarios are open to me, and here is why: A Case for Sells: -we have been on a bearish assault and the recent price action indicates that we have found a lower swing high on the H4. As such, the natural expectation is that we shall continue...

lovinmulika

AUDUSD has been in a bullish trend since Jan 2022. We recently made a new swing high on the pair based on the H4 analysis. The pair has also been respecting a trend line to the downside that has acted as support since Jan this year. A look at price action today indicates that we are about to hit that trend line, a fair touch right below the 61.8% fibonacci PRZ...