Display: FX:AUDUSD 0.01%
Description: As shown above we have FX:AUDUSD 0.01% . This pair currently bearish , Just as
FX_IDC:XAUUSD this move was made quite obvious early November after
giving us a strong Bearish Engulfing Candle on the Daily as shown at the top of the channel. We are trending
nicely making LH & LL supported by current Trendline Resistance. ( Tweezer Top ) & a 0.50 Retracement
On the Monthly Chart we have a Bullish Spinning Top , which could be interpreted as a potential HL.
On the Weekly Chart we have a Bullish Reversal pattern
On the Daily Chart we currently have a Tweezer Top Close, although the higher time frames seem quite Bullish i still stick to my bearish bias which is supported by correlation in other pairs and expected USD strength in the weeks ahead.
Indicator/s: EMA ( Monthly ) 20 EMA acting as near term Resistance 50,200 Long term Resistance
( Weekly ) 20 EMA Bearish cross below 50 early December (Magnetic Resistance) 200 Long Term Resistance
( Daily ) 20 EMA crossed below 50,200 Mid November Currently 50 EMA is Acting as resistance with the 20
EMA acting as near term Support
( 4HR ) 200 EMA Near term Resistance with the 20,50 acting as near term support
Duration: Long Term ( SWING )
Decision: Once again pretty simple just as GOLD -0.68% , I'm awaiting a Close below the Daily Supp: 0.7285 which will also be a
break below the 20 EMA. Stops placed just above the Tweezer Top // 50 EMA
This would be accompanied by positive correlation with GOLD -0.68%
FX_IDC:XAUUSD
Trade Setup:
Entry: 0.7275
TP 1: 0.7165 ( MW SUPP)
TP 2: 0.7000
SL: 0.7355
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post you analysis below.
Remember to always trade your stratergy... Happy Trading
Useful Information:
TREND: Bearish
INDICATORS: Moving Average
ATTACHED CHART : YES
Description: As shown above we have FX:AUDUSD 0.01% . This pair currently bearish , Just as
FX_IDC:XAUUSD this move was made quite obvious early November after
giving us a strong Bearish Engulfing Candle on the Daily as shown at the top of the channel. We are trending
nicely making LH & LL supported by current Trendline Resistance. ( Tweezer Top ) & a 0.50 Retracement
On the Monthly Chart we have a Bullish Spinning Top , which could be interpreted as a potential HL.
On the Weekly Chart we have a Bullish Reversal pattern
On the Daily Chart we currently have a Tweezer Top Close, although the higher time frames seem quite Bullish i still stick to my bearish bias which is supported by correlation in other pairs and expected USD strength in the weeks ahead.
Indicator/s: EMA ( Monthly ) 20 EMA acting as near term Resistance 50,200 Long term Resistance
( Weekly ) 20 EMA Bearish cross below 50 early December (Magnetic Resistance) 200 Long Term Resistance
( Daily ) 20 EMA crossed below 50,200 Mid November Currently 50 EMA is Acting as resistance with the 20
EMA acting as near term Support
( 4HR ) 200 EMA Near term Resistance with the 20,50 acting as near term support
Duration: Long Term ( SWING )
Decision: Once again pretty simple just as GOLD -0.68% , I'm awaiting a Close below the Daily Supp: 0.7285 which will also be a
break below the 20 EMA. Stops placed just above the Tweezer Top // 50 EMA
This would be accompanied by positive correlation with GOLD -0.68%
FX_IDC:XAUUSD
Trade Setup:
Entry: 0.7275
TP 1: 0.7165 ( MW SUPP)
TP 2: 0.7000
SL: 0.7355
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post you analysis below.
Remember to always trade your stratergy... Happy Trading
Useful Information:
TREND: Bearish
INDICATORS: Moving Average
ATTACHED CHART : YES
