failathon

failathon

Inspired by @aceofswords Bullish Plan 1. bounce support at 113.800 to 115.500 and beyond 2. enter on bounce Bullish Alt Plan 1. bounce support at 112.939-113.386 2. enter on bounce Wrong below 111.680

failathon

aggressive play over. symmetrical triangle on 30m, aim for resistance at 9712

failathon

Not to be taken seriously -- experimenting here First 1.618% fib target hit Sep 2013 0.5 pullback meant not enough for another 1.618% target (0.83208) 0.618 pullback - more downtrend but trend is becoming compressed trendline from 1.06 supports FALLING WEDGE theory it has broken through too quickly however - it should have gone 0.86 then broken...

failathon

let's see how it fars at 1290 though to complete the idea if bounce off 1290 - failed H&S, back in trend otherwise, trailing stop time!

failathon

EDIT: sorry - meant to say AUDNZD, not NZDUSD... At first it looks like a triple top But simply could be a double bottom with a triangle idea Caution here .. Risky play would be short inside the tri with a trailing stop then prep for an upswing closer to 1.07-1.0722

failathon

Not convinced we are going to see more downside just yet Lower high could be a MINOR lower high suggesting that we've got a corrective dip here Which puts us further into a Rising Wedge pattern Am looking for some upside to 1.395-1.40 & indicators to show overbought on both short/long term Then I'm looking to short this all the way down to 1.347

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Plan #1 With respect to 1.67426 (2011 high) Potential to swing up to 1.68 Puke target of 1.633 (50%) With a stop mid-way at 1.64516 (38.2%)

failathon

Looking set on both chart & Stoch for a downward swing to test support @ 98.002 Be prepared for false bear popping its head around 107 however

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Previously thought we'd be going short, but some new support has formed Could be looking at heading to 1.3700 Or a false bear and slam straight down to 1.30

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Trend volatility is still high Possibly expect 1x last test of wedge line before falling towards 1.31130 & 1.297 support tests

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Slowdown.. testing upper wedge line several times Also ADX + Stoch confirm slowdown However, 98.245 has become Support inside Wedge (confirmed - 3 bars on support @ 50%) Previous estimate of heading to 95 now highly unlikely More likely that we are headed to test 104 in lieu of the Weekly chart - if we do breakout but fail to breach 104, then it's going to be a...

failathon

Weekly Wedge forming Downward wedge in last 10+bars Failing to punch thru 100.758 If fail, looking at target of 94-95

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Continued selling pressure If continues below 1.30830 Target/next support mark @ 1.28

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Confirmation needs Support test @ 1.500, then Resistance punch-thru @ 1.51560

failathon

Chat with @nawras.elghorani