AU
>> AUDUSD << April 19th >> Long „Breakout“ Setup <<Hey Guys and Welcome,
AUDUSD broke over previous week highs, we are following „Mid“-term Trend with a good RR.
Very bullish price action agains the trend occurred last week and formed a short-term strong uptrend, we are following this one expecting a
possible break of our Trendchannel to the upside.
Long: 0.78120
Sl: 0.77744 (40 Pips)
TP: 0.78506 (40 Pips)
TP2: 0.79048 (95 Pips)
Feel free to Comment and Discuss my Trades.
Have a Great Week :)
Alan
>> AUDUSD << March 28th >> Short „Breakout“ Setup <<Hey Guys and Welcome,
AUDUSD broke previous Week lows, we are following „Mid“-term Trend with a good RR.
Very bearish AU formed a new H4/Daily and Weekly Low with a strong H4 Bearish price action candle we are following
this strong move..
Short: 0.76703
Sl: 0.77031 (35 Pips)
Tp: 0.76383 (35 Pips)
Tp2: 0.75918 (80 Pips)
Feel free to Comment and Discuss my Trades.
Have a Great Week :)
Alan
AUDUSD ascending wedge on monthly is bearishWe have an ascending wedge on the monthly chart for the AU - an ascending (rising) wedge in a higher downtrend is bearish. On top of that, the coming price range between the two dotted horizontal black lines is the most likely area to cause a churning of price from this recent move up.
Will keep an eye on this one but should play out in the coming weeks.
AU (Updated Anaylisis)I cleaned up the chart a bit for a better view of the Bullish Butterfly. The closed inverted hammer on the major quarter point is a good sign of bearish movement along with the re-tracement off of the 88.6 (thus far) which is indicative of the C point. I'm keeping watch to see but I don't feel that it's going to extend beyond that point especially after this bullish run that took place over that last couple weeks. If you look at my last analysis, the patter is playing out well. I'm not going in short just yet, but I'll be watching it like a hawk, as this is a chance to catch quite a few pips. If it hits my entry area, I expect more movement to the upside, and quite a few pips. This pattern will take some time to play out, so of course patience is a must. I will do another update on this pair within a couple of weeks depending upon movement, hope everyone is in profit.
Possible Head and Shoulders PatternAU has been ranging for a bit, and may form a possible head and shoulders pattern based off of the 4H chart. If you are long, I would take profit based on lower time frames and a break of the 8 day ema on the 15 minute chart. Looks to just be a pull back but, if it hits the .76463 area I'd be looking for a retest of the neck (see red line) and wait to see which was she goes.