its not a super strong level. its just reward versus risk. i place a stop above the resistance. the reward level is much bigger.
The tl got broken so we look for a short position. This is where i give it a shot..
careful, price approaching very fast.
this is where i join the bears. fib level and previous support.
this trendline could cause rejection. the uptrend is strong. lower tf a butterfly at 1.3197 where i will give it a shot.
a gartley just completed on audusd. i am short. lets see if we get to 0.694
2 ABCD patterns at the same level.
I want to buy at the cross section of the 2 lines. target is the bat 'D' point.
i be looking to short lower tf just for risk to reward ratio.
i am bullish on the pair but i want a buy with little draw down. have to wait a little longer to be sure..
this level is respected multiple times in the past.
this may happen soon. if rejected have a nice position for brexit. just move sl to be and risk it.
bear flag completed, target is far lower, 23 fib may be an entry.
There is a lot of confluence here. With brexit this week, dangerous.