Audusd - running flat?Looks like we are in the middle of a larger corrective structure. And current impulse up is just the wave C, completing an internal b-wave.
Trade safe!
6A1! trade ideas
AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bearish DropType : Bearish Momentum
Resistance : 0.67660
Pivot: 0.67175
Support : 0.66485
Preferred Case: On the H4, with RSI moving along the descending trendline and price moving along the descending trendline, we have a bearish bias that price will drop to the pivot at 0.67175 where the 127.2% fibonacci extension, 100% fibonacci projection and swing low support are. Once there is downside confirmation of price breaking pivot structure, we would expect bearish momentum to carry price to 1st support at 0.66485 where the 161.8% fibonacci extension and 100% fibonacci projection are.
Alternative scenario: Alternatively, price may rise to the 1st resistance at 0.67660 where the overlap resistance is.
Fundamentals: There was an increase in employment rate and decrease in unemployment rate for AUD today, giving us a bullish bias for the Australian Dollar. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
AUSTRALIAN DOLLAR FUTURES (6A1!), H1 Potential for Bearish DropType : Bearish Momentum
Resistance : 0.68560
Pivot: 0.67685
Support : 0.66595
Preferred Case: On the H1, with price moving below the ichimoku cloud and along the descending trendline , we have a bearish bias that price will drop to the pivot at 0.67685 in line with the swing low support and 78.6% fibonacci projection. Once we have downside confirmation that price has broken past pivot structure, we would expect bearish momentum to carry price to the 1st support at 0.66595 where the -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price may rise to the 1st resistance at 0.68560 where the pullback resistance is.
Fundamentals: Due to the Euro dollar dropping, we have a bearish bias of the australian dollar.
Potential Bullish ContinuationTitle: AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bullish Momentum
Type : Bullish Rise
Resistance : 0.70605
Pivot: 0.68735
Support : 0.68360
Preferred Case: On the H4, with price breaking the descending trendline and moving in an ascending trendline on our RSI, we have a bullish bias that price will rise from the pivot at 0.68735 at the multiple swing low to the 1st resistance at 0.70605 at the overlap resistance in line with the 50% fibonacci retracement. take note of intermediary resistance at 0.72660 at the multiple swing high in line with the 50% fibonacci retracement and 78.6% fibonacci projection.
Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 0.68360 at the horizontal swing low in line with the 100% fibonacci projection and 61.8% fibonacci projection.
Fundamentals: Following concerns on commodity prices, we have a bearish bias that price will continue dropping further.
AUD SHORT Sellers took control of the market with the tail up at the high
buyers tried to go higher after the tail and sellers hit them back down
Buyers tried to step up and hold the line but couldn't - sellers swapped them out
Market is going down now until it's not
6A1!long. I think this will go up unless the line below breaks out. Always use stop loss. Good luck.
A Kangaroo Hop!Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar.
Looking at the charts, the AUDUSD pair is currently trading at the bottom of the channel support on the 1-hr time frame. With the 200-period moving average right below current levels, we think downside resistance will prove strong and prices will bounce off the bottom of the rising channel quickly.
Stay tuned to the Reserve Bank of Australia’s meeting tomorrow and time your entry there! Assuming no surprises and the technical supports are intact, we favor the long side for the AUDUSD pair.
Entry at 0.7190, stop below 0.712. Targets are 0.7346 and 0.7460.
Disclaimer:
The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
Shorting /M6AShorting mini AUD futures tonight. Stop loss is now my entry so nothing to lose other than commissions and fees.
AUD/USD Long FuturesWhen price changes we need to change with it and tune ourselves in to what are they doing?
In this case, buyers are making HH/HL's. In my previous post i was anticipating an expansion of price into the major.
Order moved into the swap of the minor pivot
Shorting AUDUSD Futures MiniHappening live right now. Trying to short AUD. Will either lose $20 or make $40.
SHORT AUD futuresAUD price action possible short at T1
Definite short if Price reaches T2
and possible reversal at T3 manage Stops
Australian dollar corrective forcastLevels and timing forecast. Looks like a corrective wave after impulse waves.
AUD down to earthFor a while recently the Aussie dollar has been tracking the US dollar price of oil. While the correlation is by no means permanent, we've seen both receding recently. AUD/USD's DI- has been approaching a convergence with DI+, and traders may wish to short this pair when the negative indicator crosses higher.
Aussie positioning ahead of Governors Speech Westpac CCThe Aussie has been on a torrid bull run benefiting from commodity strength and anticipation of reopening of its borders. Trading above its 200-day MA, with any Hawkish comments from Lowe and his counterpart and any improvement in Westpac CC the bulls will take control again. Techonomic Trading Strategies 90% Technical Analysis 10% Fundamental Analysis
Watch for an Aussie setupNice rise here, but consider going short if AUDUSD reverses after touching the upper bound of the trend channel.
AUD Futures: Reversal H&SMajor Pattern: Monthly H&S
Right shoulder is a Descending Triangle
An Inverted Reversal H&S could be confirmation signal at 0.7260
LVN & 4 Hr Supply at .709006A is coming into a weekly LVN at .70500 but if it breaks through this level ad pushes to the next weekly LVN, I like that trade better because it has 4 Hr Supply confluence. Keep it on the Watchlist.
As always this is not Financial Advice, I am just sharing the trades I plan on taking for a few reasons, one to log my trades, 2) some accountability and documentation, and hopefully these Ideas help somebody to find some trades of their own. I would Love to see anybody elses Idea links in the comments. Happy Trading Everybody. Good Luck this week
AUD Future Long potisionYep, another way to think of it is that if everyone was using limit orders (no one using market orders) the price would never move. Everyone would just be sat there on the bid (buyers) or the offer (sellers) looking at each other. It takes someone to trade at market (to buy from the offer or sell to the bid) to move the price. When you're trying to exit a position you can either use a limit order and hope someones market order fills you, or you can use a market order to buy/sell from someones limit order to exit immediately, to cost of this is getting a worse price.
===> PLEASE IGNORE THE NOTES. I'm lazy when I have to write messes up in my brain.
Micro Futures AUDUSD Bullish ReversalM6A/ AUDUSD completed the reciprocal AB=CD Pattern. Expect a reversal around the marked area and target the previous highs or a possible a new higher high.
Geometry: Shapes, Planes, and FiguresIn geometry, two such known forms are the circle and the square; however, a circle is merely a type of ellipse, so there are ellipses and squares.
Squares can be incremented and decremented, and their essential units can be found. Ellipses eccentricity can be added or removed thus creating variating arcs.
"Make It Mine" on this chart; deconstruct it; study it; study how it was formed; study the extensions that can be built on top of the base form. Even study beyond this, for this is not the end, only the beginning.
Original Chart: 13 mins
Scaling = .0001
(Had to change the duration to be able to post)
In-exhaustive book list
Law of Vibration - Tony Plummer
Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course
Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III
H.M. Gartley - Profits in the Stock Market
Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition
J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach
Disclaimer: Not financial advice, no recommendations to buy or sell, no warranties of merchantability, profitability, or probabilities.
