AUDUSD - but ... but ...Pure technically this pair is plotting opportunity for box trade - nice break above the box, pullback to its upper area and then shoot up again.
But there's always a but. USD PMI on Monday and RBA rates on Wednesday can spoil this nice picture.
Put on radar and if there will be time to monitor it closely, execute trade(s).
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
BOX
ETSY Poised to test 74 Breakout ZoneETSY has been consolidating within a standard box pattern for the past several weeks, and has broken out of its initial trend line resistance, ready to test the upper region of the box at 73.50-74. Whether or not it breaks from there remains to be seen, but a test of 74 would yield 3+ points per share. Not a bad return.
Support and Resistance breakout box (Prototype)Pretty self explanatory, uses simple support and resistance as well as time resistance which influences the box's size. The time resistance zone is an area that we should see either a strong move, reversal, or even breakout. Either way this should be an interesting experiment.
We can honestly go either way, up because a golden cross looks to be occurring on the 4h, down because we got rejected off of resistance. Personally, I predict we'll break downward back the weekly 200MA or lower.
High probability of great upside in this tech stockI´ve been following BOX ever since I´ve watched the presentation by Chamath Palihapitiya at the Sohn Conference (on youtube). We now have a clear buy signal from a technical perspective.
Disclosure - Chamath Palihapitiya is probably my favorite tech analyst out there.