1 hour chart UJ Symmetrical Triangle. Price range has tightened significantly at an important level.
Current price is at a potential support/resistance area. It is worth keeping an eye on this level.
Potential long setup on GJ. Angles support with good price action.
Maybe highlighted area is a good location to consider a long. We have a breakout of a symmetrical triangle to the upside. Enter long on pullback with bullish price action at potential support level? This area is also a 50% fib retrace area from past wave up.
Suggest a long here to catch rest of up wave on 1hr chart. Clues point to at least move up to target area.
This pair has been selling all the way past 50% from prior wave. It has now rejected the 61.8 and moving higher making this look to be a buying opportunity. However, I am looking for this bounce to fail and the bears to come back in and eventually drive this down at least to the take profit line.
Just my opinion. Interest rate increase should have caused the value of the dollar to rise but it sold off. This is a buying opportunity. We should see support hold at this 61.8 fib level and began to move up and take out the prior high in this swing up. God bless and happy trading!
UJ Bearish Triangle formation 4hr chart
Look for AUDUSD to possibly go lower with buyers losing some ground. Enter short as price crosses the low of the prior 1 hr candle which is represented by the mid red line. Enjoy.
Price gave a breakout candle for a long signal and has now came back to a potential area of support. Look for bullish price action to confirm a long entry.
Sellers may be exhausted now. If so, we should see a pull upwards with strength. Good risk reward ratio on this trade setup. Don't forget to move stop to break even when price hits the red line on chart. Protect yourself. This should be a strong sustained move, so keeping a stop tight on this one. If not so strong a move, then we want out without much damage.
Price has proved itself so enter long to catch a part of up swing. 1 to 1 risk reward.
Neutral on Monthly until breakout from symmetrical triangle.
You can enter long now or wait for a 61.8 pullback and enter long there. It has shown enough strength to justify a long but many times price will pull back some after an initial push and provide an entry at 61,8 fib level. Good luck.