AUD/USD: More Continuation to the Downside? Look at this!
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The market is still trending to the downside, currently in a corrective move, it got a rejection on a strong key level that as well, coincides with the 0.50% of Fibonacci retracement, usually an area where the price start consolidating before continuing or reversing its trend.
The price formed a clear rising wedge pattern and breaking it to the downside during the last few days of trading activity.
When, where and why would I step into the market?
Considering an overall downtrend, good rejection on a strong key level and a continuation pattern, I will be looking for a short term trade on this market.
In a lower timeframe (1hr), I can see a possible fair value area with sellers slightly in control of it. A good entry point around that area, with a RRR of 1:2 or greater would be an interesting trading opportunity!
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The market is still trending to the downside, currently in a corrective move, it got a rejection on a strong key level that as well, coincides with the 0.50% of Fibonacci retracement, usually an area where the price start consolidating before continuing or reversing its trend.
The price formed a clear rising wedge pattern and breaking it to the downside during the last few days of trading activity.
When, where and why would I step into the market?
Considering an overall downtrend, good rejection on a strong key level and a continuation pattern, I will be looking for a short term trade on this market.
In a lower timeframe (1hr), I can see a possible fair value area with sellers slightly in control of it. A good entry point around that area, with a RRR of 1:2 or greater would be an interesting trading opportunity!
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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Disclaimer
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