AUDUSD is trading in an ascending wedge chart patern.IT looks the prices have retraced from the upper trendline and so a sell call can be made for profits via short selling
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
Forecasting a bear flag formation inorder to enter short.
Please note
Trade like the banks and financial institutions.
Do not aim for silly 20-30pips instead look for 90-100 pips and above.
Dont depend on Support/resistance lines because any line you draw with closed eyes will be a support/resistance in the past!
Dont depend on lagging indicators.
Simplicity is...
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.7190).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a...
Price is been on a bullish move since last week.
As of now if you watch closely its been loosing momentum and likely to drop soon.
There is a potential for it to continue going little higher before the drop.
Keeping the probable Vs the possible scenarios that can likely happen.
As of now price is forming a bear flag pattern and like to drop after pattern...
the price is just reached the dbd zone with fib golden point expecting the price to reach down i place my trade if the price gives one bearish confirmation
fell in 5 waves and then bounced back in 3. Now we can mark this entire fall as wave 1. But then wave 2 so far is a very small a-b-c. Is it then only wave A of the bounce? This remains the question for the dollar bear market as well. What I can tell you is that during strong trends sometimes you do get small retrenchments. So a-b-c can end of it is A, both are...
AUD/USD IS TRADING AT SUPPORT LEVELS
RSI IS ALSO SHOWING BULLISH DIVERGENCE
IT CAN BOUNCE BACK TO TEST 0.71100 LEVELS
ONE CAN GO LONG AT CURRENT MARKET PRICE WITH STOPLOSS IF 4H CANDLE CLOSE BELOW 0.69900
