Three Drives pattern in an Expanding diagonal on AUDUSD
A Bearish Three Drives pattern is forming in an expanding diagonal. I am expecting long between Psych level @0.7 and strong resistance level @ 0.7587. It is also being supported by nice Hidden Divergence on multiple indicators. After the three drives pattern & expanding diagonal is completed, you can expect a good down move in the next 1-2 months.
Risk averse traders: Please enter trade after you find a good divergence (not hidden) in lower time frames to support Hidden Divergence to enter.
(Always remember that Any Divergence on Lower TF + Hidden Divergence on Higher TF is very strong reversal signal. Additional confirmation would be if there is a crossection of Gann angles from Tops and bottoms.)
Multiple entries on Long term and Short term..
Medium - Long term entry Long @ 0.7.
For short term entries on
AUDUSD, Please check the picture below. We start with one small short positions followed by Long entry on Bat Pattern.
Currently a long position is also possible in the correction phase. Comment for questions or different views.
Happy Trading,
Regards,
Jeevan. K
Risk averse traders: Please enter trade after you find a good divergence (not hidden) in lower time frames to support Hidden Divergence to enter.
(Always remember that Any Divergence on Lower TF + Hidden Divergence on Higher TF is very strong reversal signal. Additional confirmation would be if there is a crossection of Gann angles from Tops and bottoms.)
Multiple entries on Long term and Short term..
Medium - Long term entry Long @ 0.7.
For short term entries on
AUDUSD, Please check the picture below. We start with one small short positions followed by Long entry on Bat Pattern.Currently a long position is also possible in the correction phase. Comment for questions or different views.
Happy Trading,
Regards,
Jeevan. K
Related publications
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.