AUDUSD 100 Pip Long SetupHello Friends,
Today i'm looking for a buy on AUDUSD for the following reasons:
1. Coronavirus fears have greatly impacted the financial markets, with JPY and GOLD having all the fun, but this rally has slowed down. Any positive news regarding the spread of the virus will send markets back into risk-on mode
2. EURUSD has approached 1.10 Support once again, So weakness in USD is anticipated
3. Interest Rate Decision for USD tomorrrow, which should provide good volatility for this trade to get started
4. We are seeing some buying pressure at the 0.675 Level, where support held previously
Buy-trade
AUDCAD BUYBreak of market structure expecting buyers to now come into the market. good risk to reward aswell.
In correlation AUDCHF is also in a bullish uptrend so we are expecting more bullishness/ strength from the AUD.
Price is reacting well so far on the 61.8 fib with a morning star formation on the 1 hr.
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Wave 1: +455%
Wave 3 is beginning now...
Monthly Chart:
Weekly Chart:
Daily Chart:
*Always see related ideas and click the 'play' button to see how price-action follows Fibonacci sequences
Immediate Target: $14
Time-frame: 72 days
See related idea for further analysis.
Will update.
-AB
Buy trade SETUP, for British Pound / Japan Yen (GBP JPY).FEEL FREE TO COMMENT IF ANY QUERY OR SUGGESTION.
In the chart, plotted value is for GBP/JPY which has stronger CONTROL PRICE, value HIGH and value Low . The " Control Price " has complete control 1 to 7 as seen in the chart.
1) The 3 excesses detected at Value High and after the (h) excess with price rotation sellers have complete control over the value.
2) Already existed 5 excesses at a value low and going to create (i) excess expected.
CONCLUSION of analysis: 135 to 137.5, found any tail will create buyers attraction and smart money will come at that level. Other words, if DOJI detects the below the value low, then take your entry. The 100% price get pullback toward the control price.