AUDUSD bearish wedgeLooks like a nice bearish wedge with a nice setup at the high. It is getting a bit over extended now, so it has to make a drop very soon, within a few hours, otherwise it might break out sideways and simply move up. So when it takes too much time, i will simply close it again, since it's also against that resistance line on the left.
Previous analysis:
Usdaud
SHORT EUR/AUDFundementals: Don't think there will be a second rate cut in the coming month till july.
Projections: Rate cut for RBA
July/August 2019 1.25 -> 1.00
Feb/March 2020 1.00 -> 0.75
Recent news: Trump might sanction germany, brexit turmoil and trade war.
Hoping for a resolved conflict from a USCHN trade war during the G20 Summit.
In the past 3 years price has been capped around this area, any upside sellers tend to push it down.
Weakness in AUD is temporary due to prolonged trade war.
I favour Short EUR/AUD over EUR/NZD.
USD/AUD - Market Prediction - 4HRUSD/AUD is approaching a level of note. Price has broken and retraced from this resistance level before. Overall I think price will consolidate in this level for a bit and then choose either to head further up or reverse to the downside. Either or it is important to be ready for both.
Trading Journal #4
Audusd quick updateJust looking at two potential necklines. Both probably matter.
If you take away the overthrow in 2008, you get a very clean horizontal neckline that just broke, signaling recent acceleration downward in AUD. This is also likely why we were muddling around recently in the current range for such a long time. The other neckline was already broken, but it based on reaction to resistance, I think the horizontal neckline is the more followed resistance level.
AUDUSD double bottom and bullish wedge Part 2So it dropped and looks like a small false breakout. Usually no way of telling upfront where it might end. But on the right we can see a possible smaller wedge, which would be an ideal false breakout low. So i am going to try a little bit here. If we cross red the level on the right, i will increase it, but only if we see a strong bounce up, confirming the false breakout.
Previous analysis:
AUDUSD double bottom and bullish wedgeLooks like a nice setup here. On the left it looks like it might be making a bottom formation with this wedge. On the right we can see a possible double bottom. But it's a low time frame one, so not the most reliable.
In a situation like this there are 3 options:
Red: Going long now or after the small red resistance breaks. After the red breaks, i would say chances are like 60%
Black; Waiting for a break up, than seeing a bull flag being formed close to the neckline of the double bottom and then getting in. This has a chance of around 75%
Blue: False breakout, waiting for that and the bounce up. If we see a small V shape bounce back above the green, odds are maybe 80%
These % are to give an impression, not to show you if it's a sure win or not.
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Previous analysis:
Forex 9 Seasons Rainbow Indicator Watch: USD Pairs 20190423USD is strong as a whole.
USDAUD: as mentioned in my last idea "Forex Divergence Watch: USD Pairs 20190419", Bullish Divergence (Blue) has turned out to Crazy Bought (Lime)
Crazy Bought(Lime) in 1H, 85m, Bullish Run in high volatility.
USDCAD: is breaking out the resistance.
USD Pairs being monitored:
USDAUD , USDCAD , USDCHF , USDGBP , USDJPY , USDEUR
Time Frame:
1H - 2D
DISCLAIMER
This is only a personal opinion and does NOT serve as investing advice NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
USDAUD LongEntered trade with trend based on
- expecting USD to come into some strength this week check DXY
- falling wedge formed (still waiting on entry)
- entry is on 61.8 FIB
- the oscillator on the daily has reached oversold and moving back up
- UTA starting to turn around
- looking to take profit at top of range
QUICK LONG ON AUDUSD 1.5:1 RRHello Tradingview:
Nice to be back to charts and trading after a long break.
In this quick trade, I am looking for a nice 1 HR pullback to good support, forming higher low and inverse Head and Shoulder before entering the trade.
Rejecting the EMA, fibs retracement, and MACD divergence all given me positive confluence to enter.
Easy target of 1.5:1 RR, below the intra day support/resistance area.
Thank you
Quick H&S scalp AUDUSDLooks like a decent H&S in the making here. But, the rally prior to it was very strong one. So it could turn into a bullish wedge, but when looking at the daily, it could be the short term high is already set. I have 2 targets, as you can see the trade i posted and the second one i will use is the yellow circle. I am waiting for a better entry, like the blue line.
Previous analysis:
AUDUSD inverse H&SThe previous trade was picture perfect getting in at the high and taking profit at the low. I said we might get a reversal and some have asked me why i did not trade that reversal, for me that is simple:
I don't like to trade the same coin too many times in a row, because that increases the risk of getting emotional on a trade. If i would not have shorted it and was just watching the price, i would have probably gone long. So playing both ways is not a bad idea, it just can be tricky, that's all i am trying to say :)
Safe play here is waiting for the breakout and the pullback to the neckline (red zone) again.
Previous analysis