Audlong
AUDCHF Continue BuyingBut remain cautious esp regarding volatility from US-China trade talks.
Weekly:
AUDNZD LONGhead and shoulders pattern failed and reverse back 1.06
if clear break occurs in a short time go long
stop:1.0575
target:1.0680
good luck to all
AUDCHF - POTENTIAL LONGWe have a potential long setup on AUDCHF with two targets marked. Wait for a break and close outside of the structure before taking any positions.
audjpywith the closing on the red zone (resistance) ascending triangle will be confirmed. target is the blue zone. anywhere closing under the triangle with 2 hourly candle is my stop
AUDNZDconfirmed dragon pattern and unconfirmed double bottom. just realized the dragon pattern so I will try to enter the position near the blue line. if not; I will wait to brake neck-line. closing under the support zone will be my stop-loss.
Strategic short on AUDJPYHere we are actively in the market for further downside in AUDJPY after retesting 78.6.
=> From a fundamental perspective the outlook in Australia continues to weaken. Credit, housing and confidence are all slowing and a dovish RBA is the icing on the cake.
=> The "positive" headlines this morning from the US-China trade is increasingly priced in and we see this as a selling opportunity as there is limited upside in AUD from a potential deal.
=> JPY should also catch a bid from US outflows. Headwinds are appearing in earnings and global growth is also slowing.
The risk here to our idea is on the top-side. To give a meaningful break we would need to see a pickup in global growth which in turn will support commodity demand.
GBPAUD SHORT OPPURTUNITYIf we break and close under the flag pattern we can expect price to move towards the target zone.
EURAUD Short - A Risky CountertrendWith most AUD pairs seem to have reached key support levels and about to reverse up, and EUR going ranging, riding a possible immediate consolidation for this pair. Setting up sell stop order with 1st TP @1.56210 (38.2% fib), and possible to trail this until 2nd TP (0% fib) by next week, and hard SL @1.58 (few pips above its current high/past the 100% fib level).
Daily:
Weekly:
Confidence: B (risky because it's going against its recent bullish momentum-- I'm not really into countertrend trading, unless I think the pair is going into a ranging pattern hiatus after a strong trend)
Potential H&S Formation on the AUD/JPY daily and 4H chartsAfter a sharp decline in the AUD it looks like it potentially has found a previous SR Zone and formed a great looking head and shoulders formation, right shoulder has been set, will it go on to complete the formation?
Stop loss would be below the right shoulder 79.72 with overall target at 81.76 for approximately 159 pips
What do you think are the odds of it playing out?
Not trade advice and my ramblings only
AUDJPY possible head and shoulderplease see my thoughts on the chart FX:AUDJPY . this looks like a good entry point. please be careful and set your stop loss also.
AUD/USD headed for 0.7360 centWill likely retract to 0.7360 downtrend line in the shorter term (red arrow).
AUDUSD head and shoulderthis would be a good on to jump in for a long. should get to the tip of the blue arrow. i would normally just aim for 70% of the blue arrow.
please like and support :)
AUDUSD - Looking Long AUDUSD Finding support around the 0.75000 region, making HH and HL's - Looking poised to get to 0.7600.
Daily Rejection looking solid, with the strong bullish close on the 4H. WIthin the descenting channel - looking to test the topside of the channel. A breakthrough of the channel high (0.76500) would lead to further gains in my opinion.
Patiently waiting for next week to play out. Let me know your thoughts.
AUDUSD 4HRHAVEN'T POSTED MUCH IDEA LATELY SO HERE SOMETHING TO LOOK AT
ON THE 4HR CHART OF THE AUDUSD, THE CLOUD IS BLUE, PRICE CLOSED ABOVE THE CLOUD AND THE FUTURE IS BLUE ALSO, RSI SHOWS WEAKENING OF BEARS AND THE BULLS ARE TRYING FOR A RALLY.
ENTRY: BUY STOP 1 PIP ABOVE THE FRACTAL - IS AS SHOWN NOT A VERY GOOD POSITION AND RISK REWARD RATIO IS NOT THAT GREAT, TRADE WITH YOUR ENTRY STRATEGY AND RISK TOLERANCE FOR POSITION SIZE.
CHART CONTENT: ICHIMOKU, BILL WILLIAMS FRACTALS, RSI.
P.S. A LOT HAS CHANGE WITH TRADING VIEW, EVEN POSTING IDEAS, I LIKE IT WHEN THE CHART IS AUTOMATICALLY LOADED TO THE IDEAS BEING POSTED, AND WHATS UP WITH LIMITING THE INDICATOR TO 3 I MEAN IT SHOULD HAVE BEEN AT LEAST 5 I'M NEVER GOING TO SUB TO THIS PLATFORM...
EUR/AUD SHORT UPDATE Now that we have broken the key trendline on the weekly and daily timeframes, we have more confirmation that this pair is experiencing a trend change. I am personally waiting for a re-test of the back side of the trendline, the daily 50ema and potential 0.382 fibonacci retracement (if we bounce off 1.56250) before going short. However if a long entry presents itself after a bounce off of 1.56250 I may consider a short term pullback play to the long side.
Long AUD/USD Fundamental Analysis
After the Rate Hike from the FOMC to 1.625 was priced into the market the AUD/USD broke out of its channel to the upside. As I said in the previous trade idea for the AUD the economy is improving after its transaction from the mining sector and I expect it to remain buoyant going through 2018. I will be keeping an eye on wage growth and jobs over the next 6 months but for now I would expect to see a correction to the upside.
Technical
As you can see from the chart the AUD/USD broke through resistance at 7718 and pulled back to the same level after hitting 7780. I am looking for this level to be tested again with a stop below the lower support level.
I will be trading this on Automation with the triplesystemEA with the breakout settings and scalp setting activated
Long AUD/USDFundamental Analysis
RBA kept interest rates the same in the last meeting but have acknowledged that there is improvement in both the Domestic and International economy. The currency is currently trading down against the USD but a positive language from the RBA minutes tonight coud see a bounce back to previous resistance. If the central bank language is fairly flat then further downside could be possible.
Technical Analysis
As you can see from the chart the price is currently consolidating whilst the market awaits the RBA minutes. I would expect this to break to the upside but there is still downside risk. I will be using my Triple system EA to trade this today.
