🧠 Technical Overview
Pair: AUD/USD
Timeframe: 4H
Current Price: ~0.63864
General Structure:
Strong prior uptrend leading into a consolidation phase.
Price is forming a classic bull flag pattern (bullish continuation).
Fibonacci extension levels are plotted from the recent impulse leg to project targets.
🔥 Pattern Analysis
Bull Flag:
Parallel, downward-sloping channel following a strong bullish move, indicating healthy retracement.
Price is currently testing the upper boundary of the flag (~0.6394).
Breakout Plan:
Break and close above the flag resistance would confirm bullish continuation.
Immediate target lies at 0.6508 (previous structure high and 1.0 Fibonacci extension).
Higher Fibonacci extension targets are located at:
1.618 Fib ≈ 0.6553
2.0 Fib ≈ 0.6573
2.618 Fib ≈ 0.6622
🔍 Indicators
(Indicators not shown in the image, but inferred from price action):
A breakout supported by higher volume would strengthen confirmation.
RSI pushing above 60 would further confirm bullish momentum.
🧩 Summary
Bias: Bullish
Key triggers:
A strong breakout and close above 0.6394–0.6400.
Retest and continuation move would offer a more conservative entry.
Risk:
Caution required if breakout occurs on low volume.
Invalidation of the setup if price falls below 0.6380 (flag base) or decisively below 0.6318 (key structural support).
✍️ Quick Trade Plan Example
Setup Details
Entry Break and close above 0.6400
Stop Loss Below 0.6380 (or tighter below 0.6368)
Take Profit 1 0.6508
Take Profit 2 0.6553
Take Profit 3 0.6622
Final tip:
If price breaks out impulsively, aggressive entries can be considered. If the breakout is slow and grinding, it would be safer to wait for a pullback and a confirmed bullish rejection.
Pair: AUD/USD
Timeframe: 4H
Current Price: ~0.63864
General Structure:
Strong prior uptrend leading into a consolidation phase.
Price is forming a classic bull flag pattern (bullish continuation).
Fibonacci extension levels are plotted from the recent impulse leg to project targets.
🔥 Pattern Analysis
Bull Flag:
Parallel, downward-sloping channel following a strong bullish move, indicating healthy retracement.
Price is currently testing the upper boundary of the flag (~0.6394).
Breakout Plan:
Break and close above the flag resistance would confirm bullish continuation.
Immediate target lies at 0.6508 (previous structure high and 1.0 Fibonacci extension).
Higher Fibonacci extension targets are located at:
1.618 Fib ≈ 0.6553
2.0 Fib ≈ 0.6573
2.618 Fib ≈ 0.6622
🔍 Indicators
(Indicators not shown in the image, but inferred from price action):
A breakout supported by higher volume would strengthen confirmation.
RSI pushing above 60 would further confirm bullish momentum.
🧩 Summary
Bias: Bullish
Key triggers:
A strong breakout and close above 0.6394–0.6400.
Retest and continuation move would offer a more conservative entry.
Risk:
Caution required if breakout occurs on low volume.
Invalidation of the setup if price falls below 0.6380 (flag base) or decisively below 0.6318 (key structural support).
✍️ Quick Trade Plan Example
Setup Details
Entry Break and close above 0.6400
Stop Loss Below 0.6380 (or tighter below 0.6368)
Take Profit 1 0.6508
Take Profit 2 0.6553
Take Profit 3 0.6622
Final tip:
If price breaks out impulsively, aggressive entries can be considered. If the breakout is slow and grinding, it would be safer to wait for a pullback and a confirmed bullish rejection.
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.
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.