Audusd Signal – AUDUSD continuation short trade
We have already take all my positions off on the initial trade at 0.7401 (+77pips). currently looking to re-enter a short hopefully at a higher price, waiting for additional retracement. looking at the 0.7440 levels : – Support turned resistance – ABCD pattern on the H1 – by then, we might prefer to see RSI at the 50 level and get resisted there. My original targets = 0.7328
AUDUSD Price broke the previous triangle pattern
Price broke the previous triangle pattern and made a corrective flag, which is a good opportunity to follow the continuation trend and is now heading for C wave. I predict C wave will be about same length as A wave. Stop loss above the recent high of the flag. From weekly chart i can see that we are in a down trend and we are in the 4th wave of Elliott wave, this could be a good opportunity to ride in the 5th elliott wave before a ABC correction in years to come.
In Other View Point – AUDUSD short setup
I expected down move on AUDUSD. On higher time frame price break trend line. Potential Bat pattern formation on 30 min in trend move direction. Entry price (88,6 XA) is near to 33.8% of current swing with big black candle.