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Mystofmanila

AUDUSDScenario 1 I've been in this trade for quite sometime now. I just want to share this, im long on this trade with targets set at .77899 im expecting this pair to go up based on the EMA, and the false downside breakout on the MACD. A break below on the bullish trendline and horizontal 50% fib level plus a low volume, and a red bar could change my mind in this trade for as long as that doesn't happen im long here. Scenario 2 incase this goes south ill short it with 1.5 of the previews position with the target on the low of the channel
Long
by richbautista30
Possible retest of Highest High and before we get there.As i mentioned in my previous posts, an almost complete Bearish Cypher pattern is in the works, as well as a possible Bearish Gartley could provide a retest of the recent Highest High for the pair. Observed here is the continuation of the Bullish Trend Line we have since Nov. 12, 2013. In my post "Part 2 Bearish Essentials", conditions were met (4Hr Oversold RSI with ATR reading 25 below) and with the help of the negative feed from US, the pair indeed shoot up as expected up to where we are now. From here, I'll just let the events unfold and update as soon as i can. Thank you and Good Luck on your trades! P.S. I'm still learning to work with this interesting platform, kindly bear with me if my charting is kinda off.. Hopefully i'll get used to it soon enough. =)
by MystofManila
1
Part 2 Bearish EssentialsA highly probable Bullish Cypher pattern in the Highest High of this pair (the 1.27 extension from Point A @ 1.68215) could drag us down to 1.6400s to 1.6380s. In the near term, a Bullish Bat Pattern could emerge if the conditions becomes favorable. (ATR less that 25 with extremely oversold RSI -20 at a 4hr chart) projecting the pair up to 1.6900s. Could be helped with the expected negative data coming from the US today. Only to be dragged down again as early as Tuesday next week to about 1.6600s. Targets are projected on the chart. Good luck trading guys!
Short
by MystofManila