Possible bottom with strong divergence and impulse with small flag. Expecting price to test 48 and 0.236 fibonacci retracement of the big wave forming an ABC-pattern.
First AUDUSD broke out of monthly/weekly wedge with great strength. Then it has been in a corrective move of that brake out. Which it now looks like it's breaking out of and continuing to the up side. Two targets; first the high of the impulse wave and then 78,6% of fib extension as these correlate with major S/R levels. But looking back in history with the price...
Price went back up over monthly/weekly trend line into the rising wedge. Strong weekly bullish engulfing formed at break and now correcting that move. Pinbar on touch of trend line and bottom of Bollinger Bands in 4H chart indicating lack of movement continuing down. But i expect a small down move before bulls take over. Divergence in MACD and Stochastic with...
I'm short TSLA based on weekly pinbar followed by bearish engulfing at support that broke trough 23,6 fib level. Also have MACD divergence. This can indicate a short term trend change to the downside.
In the making. Possible break out.
In the Making. Possible Symmetrical Triangle Break Out.
Possible Symmetrical Triangle Break Out. Formation in the making. Further bearish movement outside the triangle breaks the strategy.