1. Order block with unbalanced fair trade gap identified in the green. 2. Wedge broken. 3. Price is anticipated to break 50 McGinley line average.
1. Order block with a unbalanced fair trade gap where buyers were unable to participate in the market during that time is a indication that the market will go back up to close that gap. 2. Price found support at 50 moving average McGinley line (red). 3. Fibonacci supports price going to TP1 and possibly TP2, where TP1 lines up with the indicated order block. 4....
Based off a buyers market and Fibonacci on the 4hour timeframe I'm expecting price to test the all time high.
In my second technical analysis of AUDUSD, I believe it will breakout of its minor pullback and double minor contraction to the upside. Confluence of my prediction include : 1) bearish head and shoulders on the pullback. 2) The TK crossing from the ichimoku cloud supporting a bullish breakout from its minor contraction. 3) A bounce off of the minor contractions...
On my first published idea I predicted AUDUSD In a bullish trend would pullback from the sell zone channel and continued through the 4 hour resistance. It did exactly that! Thanks to those that liked and gave constructive feedback. Have a great weekend and happy trading next week!
Indicators like Williams' Alligator and Awesome oscillator, trend channel and ichimoku cloud support price action staying long. Please comment if you think other wise. This is a novice analysis of the chart. Open to opinions and advice.