Currently in Smaller wedge within a channel/wedge pattern, E tap, wick rejection, bearish price action, also tapped back underneath the thick red channel line on a higher time frame.
Might see another re-test which coincides with the thinner channel/wedge pattern directional pattern, hence giving more confirmation of the down move.
Please see below for higher time frame.
Might see another re-test which coincides with the thinner channel/wedge pattern directional pattern, hence giving more confirmation of the down move.
Please see below for higher time frame.
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1 hour:
Still has room to go up for 1 more test. Let's see how the market moves. I'll be in and out of the house today so may have some delayed updates.
Still has room to go up for 1 more test. Let's see how the market moves. I'll be in and out of the house today so may have some delayed updates.
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30 min candle closing bearish.
Want price to break the bottom of this mini wedge.
Want price to break the bottom of this mini wedge.
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Coming up for that test!
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Have your stop here.
But ensure your dollar amount of risk equates to and within your risk management protocols. 1-2% is a good mathematical range/LIMIT.
But ensure your dollar amount of risk equates to and within your risk management protocols. 1-2% is a good mathematical range/LIMIT.
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Want either:
1) price to break below the bottom of the mini wedge.
2) Come up to retest those confluence of lines.
1) price to break below the bottom of the mini wedge.
2) Come up to retest those confluence of lines.
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Double tap of the thick red daily channel line.
Signal bar and reversal bar created, under the upper wedge lines, looking for follow through and price to fall.
Signal bar and reversal bar created, under the upper wedge lines, looking for follow through and price to fall.
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Also in a trading range. Top of the range, good time to short.
Higher probability of a move down.
Higher probability of a move down.
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Since price has spent some time ranging, it now has a bigger room of movement to the bottom of the wedge, approx 30 pips down.
Looking eventually to see a break below this wedge/channeling structure.
The momentum of the daily/weekly downtrend and channel is relatively strong and kicking back in after that "Reversal Attempt" and "Failed Breakout".
Looking eventually to see a break below this wedge/channeling structure.
The momentum of the daily/weekly downtrend and channel is relatively strong and kicking back in after that "Reversal Attempt" and "Failed Breakout".
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4 hour view as of now. Eventually want to see price touch the bottom and see how it reacts.
Place stop where specified and hold.
Daily chart pasted above, please scroll back up if you missed it.
Place stop where specified and hold.
Daily chart pasted above, please scroll back up if you missed it.
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Want this 15 minute candle to close bearish for stronger signs.
Going to sleep. Hope you all trade stress free, plce the stop intitially in the spot specified but ensure you are within your riskmanagement protocols. THIS IS CRUCIAL.
Go enjoy your trading, stress free, which leads to better trading with less trading errors.
Going to sleep. Hope you all trade stress free, plce the stop intitially in the spot specified but ensure you are within your riskmanagement protocols. THIS IS CRUCIAL.
Go enjoy your trading, stress free, which leads to better trading with less trading errors.
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1) Top of the trading range, tried to make a higher high but seems like a rejection as of now, with a strong bear body. We may or may not see 1 more test of the top extreme.
2)That same rejection coincides with a tap and rejection of the Daily/weekly down trending channel lines. Giving some indication of potential direction and what the market wants.
We are going through a little trading range around this CRITICAL point where the market is working out which direction it wants to ultimately go.
At the moment, a double tap of this thick red down trending channel line may be all the market needs to fall further down and potentially break this mini trading range and resume trending down on the Higher Time Frames.
That bottom of the mini trading range could be a potential reversing point where it may lead to price breaking above that daily/weekly thick, red channel line to begin moving up and hence rejecting the move down below.
The odds are more with the down move however i must stay formless, shapeless like water to adapt to whichever situation/dynamic change of price comes my way.
2)That same rejection coincides with a tap and rejection of the Daily/weekly down trending channel lines. Giving some indication of potential direction and what the market wants.
We are going through a little trading range around this CRITICAL point where the market is working out which direction it wants to ultimately go.
At the moment, a double tap of this thick red down trending channel line may be all the market needs to fall further down and potentially break this mini trading range and resume trending down on the Higher Time Frames.
That bottom of the mini trading range could be a potential reversing point where it may lead to price breaking above that daily/weekly thick, red channel line to begin moving up and hence rejecting the move down below.
The odds are more with the down move however i must stay formless, shapeless like water to adapt to whichever situation/dynamic change of price comes my way.
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Broke above the bigger wedge. Not a good sign at the moment for shorts. Could be going up.
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Took out some small long profits and got into a short for now until price tells me otherwise. For now I believe at the very least a correction is in place.
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Photo soon when I get on the PC
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3 pushes up, looking for this rally to end. Looking for current price to create a wedge pattern/reversal.
Keeping in mind that if price begins to fall and then rebound off the bottom of the wedge then most likely will see price go higher.
Keeping in mind that if price begins to fall and then rebound off the bottom of the wedge then most likely will see price go higher.
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Looks like breaking out but need 15 minute to close.
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Looking for a failed breakout
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looking for more rejection off this mini trendline
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Hedge position on both sides. Tight stops
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If price goes up this indicates to me that we are/will be trending relatively strongly as the bulls are taking over at the moment and controlling the market with their dominance. They want AUDUSD Long.
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5 minute:
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Lets see how the next few candles turn out..
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Breaking above, sitll 2 minutes left on candle but this market looks strong for a continued bullish trend up.
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I think we may see something more like this: (Targets not projected)
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Breaks of this trendline and probably a failed breakout
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these trendlines*
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mini-trendlines** xD
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closed bearish.
www.tradingview.com/x/52tDu4ff/
www.tradingview.com/x/52tDu4ff/
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Still can be an abc if this bar closes strongly bullish.
But be wary of the possible reversal which could occur. Otherwise it will breakout and make new highs. Lets see how it turns out.
But be wary of the possible reversal which could occur. Otherwise it will breakout and make new highs. Lets see how it turns out.
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closed bullish lets see if price reverses up here or continues up.
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15 min view:
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testing the other side of the mini trendline. Looking for the bounce up for up confirmations or a test of that wick area for possible reversal.
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Good sell if this next 5 minute candle closes bearish.
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Looking bearish so far. Looks like a reversal and failed breakout.
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wait for futher confirmation and candle close
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Strong Bull. Probable that we're going up.
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Be wary of 15 min. COuld still reverse on us.
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15 min turned slightly bullish. Want to see what the next 15 minute candle has in store for us.
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Breaking below. Good reverse if closes strongly bearish.
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if it does and there's follow through looking out for possible long moves off the two upward trendlines.
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Bearish close.
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Rejection off the trendline. If it continues going, confirms this uptrend.
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This highlight area looks very corrective. ABC, 3rd tap off the trendline, strong reaction to the upside. Trend resumption.
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Breaking out. Trending market.
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We have a potential for this drop. When it reaches this trendline, it will be a good position to buy.
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Possible we could have this channel going.
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Possible reversal zone or a continuation to the top of either channel.
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Trending and corrective phases WITHIN this uptrend.
Making higher lows and higher highs.
Will it continue uptrending and break out above previous high?? Will it continue along this channel ?
Will it become a wedge?
Lines drawn up and will adjust to what the market shows as we continue along this path.
I want to see some larger uptrending/impulsive moves..
Making higher lows and higher highs.
Will it continue uptrending and break out above previous high?? Will it continue along this channel ?
Will it become a wedge?
Lines drawn up and will adjust to what the market shows as we continue along this path.
I want to see some larger uptrending/impulsive moves..
1) A continuation of the downtrend,
2) a failed breakout out of the down trending channel, showing that traders have a strong conviction to the continuation of the downtrend.
3) If further confirmation shows reasons for further short moves, We will at minimum test down at the bottom of previous, low and decided the direction. The odds are with us to the downside, so holding to continue the short or make short entries are the higher probability trades.