PatrickFXKG

PatrickFXKG

Political uncertainty can move the pair down during election day in GB to the 1.245-1.24 area (watch out for fakeouts). This would retest the broken trendline resistance (light blue) and also tests the trend support zone (light green zone).

PatrickFXKG

During the day of the election in GB, the pair could retrace because of uncertainty of the outcome of the election. It could retrace to the 1.27 zone which would be 50% fib from the whole past move upwards as well as the 38.2% fib from elliot wave 3. This wave 4 would be a similar consolidation pattern as wave 2 and wave 4 would also be in the zone of wave 1 but...

PatrickFXKG

if the pair stays below the trend line support or if it retraces back up and stays below the trend line resistance, a short position can be entered or if price breaks below support zone and then retouches support/resistance zone a short position can be entered target is the next lower support zone

PatrickFXKG

If the price closes below the trendline on the 4h timeframe, the pair could move down towards the next support zone (TP1) and even further to the 38.2 fibonacci retracement which is also another support zone

PatrickFXKG Updated 

if it breaks the support around 113.220 and stays below (retest) there is a potential short entry TP 38.2, 50, 61.8 fib retracement levels

PatrickFXKG Updated 

if the pair stays below the trendline support or support lines, a potential short can be triggered to the next line of resistance

PatrickFXKG

AUDUSD is approaching a few support lines and trendline support. If it stays above a long position can be triggered Target 1 will be around 0.7522 and target 2 will be around 0.7538

PatrickFXKG Updated 

the pair just recently retraced to the 38.2 fib and if it moves down the 38.2 again, there is a potential long position with TP at the 61.8 fib extension

PatrickFXKG

if it breaks the support trendline and the support and retests it to stay below, there is a potential short position TP at the 38.2 and 50 fib retracement

PatrickFXKG Updated 

to close the gap, the pair has to go down a bit further if it retests the 4H trendline (light blue), there is a potential long entry in the darker green area

PatrickFXKG Updated 

potential long now or wait until it breaks the next resistance, retests it, and then go long

PatrickFXKG Updated 

If the pair bounces back and tests support around 1.35, there is a potential long entry. Let me know what you guys think. Cheers

PatrickFXKG Updated 

potential short entry if the pair retraces back to the resistance and stays below

PatrickFXKG Updated 

potential long entry either right now targeting the next resistance (channel) or wait for the retest of the trendline and then go long

PatrickFXKG Updated 

short position now or when it tests the trendline

PatrickFXKG Updated 

the pair didnt break the 61.8 fib either short now or on the retest of the resistance

PatrickFXKG

wait for the breakthrough of the 4H resistance (light blue), retest and then go long to the weekly resistance (black)

PatrickFXKG Updated 

the gap should be closing the pair is at a weekly resistance if it breaks through, wait for the retest and go short if it stays above go short if it stays below the next trendline-resistance