DATE 30/04/2014
CANDLESTICK CHART
Head and Shoulders chart pattern with breakout on 27/07. Price retested the breakout and held for the next 5 days.
Rising momentum since the left shoulder of the H&S pattern
Price retested the support yesterday and held.
RENKO CHART
Price retraced .764% and starting to head up again.
EMA crossover signals increased AUD strength
CONCLUSION
Wait for the RENKO chart to display another green block before buying.
PRICE TARGETS
S/L
Alternative 1: Support at 0.81250 (Obvious S/L area)
Alternative 2: 1.5 to 2 X ATR
Alternative 3: .618% retracement
T/P High at ~0.8300
CANDLESTICK CHART
Head and Shoulders chart pattern with breakout on 27/07. Price retested the breakout and held for the next 5 days.
Rising momentum since the left shoulder of the H&S pattern
Price retested the support yesterday and held.
RENKO CHART
Price retraced .764% and starting to head up again.
EMA crossover signals increased AUD strength
CONCLUSION
Wait for the RENKO chart to display another green block before buying.
PRICE TARGETS
S/L
Alternative 1: Support at 0.81250 (Obvious S/L area)
Alternative 2: 1.5 to 2 X ATR
Alternative 3: .618% retracement
T/P High at ~0.8300
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.