hello traders,
this is my analysis for AUD USD in a daily view :
since a few weeks, i was waiting for the big pullback near 0.73 that finalize the construction of a big "marginal double bottom" (theoric target was reach 2016.04.20 at 0.7830 (200% fibonacci expansion)
if i'm right,, this pullback could be wave 2 (or B) of the actual bull movement. (and so wave 3 coming soon !)
according to technical support & indicator, there's no problems :
- price is laid on a MA long term
- we are near of the bottom Mlh of ma Andrew's pitchfork (just laid on the "mini median line", but price can reach the real Mlh around 0.7260)
-there is a beautiful Fibonacci cluster
- price is approching a strong daily support
- and many else .....
so plan is first to wait price stabilisation & / or reverse.
then, long & TP1 = 0.75 (broken TL of the chartist pattern), then TP2 = strong resistance at 0.76, & TP3 (why not?) by returning on the median line of the Andrew's pitchofrk (action - reaction rule)
let's see....
this is my analysis for AUD USD in a daily view :
since a few weeks, i was waiting for the big pullback near 0.73 that finalize the construction of a big "marginal double bottom" (theoric target was reach 2016.04.20 at 0.7830 (200% fibonacci expansion)
if i'm right,, this pullback could be wave 2 (or B) of the actual bull movement. (and so wave 3 coming soon !)
according to technical support & indicator, there's no problems :
- price is laid on a MA long term
- we are near of the bottom Mlh of ma Andrew's pitchfork (just laid on the "mini median line", but price can reach the real Mlh around 0.7260)
-there is a beautiful Fibonacci cluster
- price is approching a strong daily support
- and many else .....
so plan is first to wait price stabilisation & / or reverse.
then, long & TP1 = 0.75 (broken TL of the chartist pattern), then TP2 = strong resistance at 0.76, & TP3 (why not?) by returning on the median line of the Andrew's pitchofrk (action - reaction rule)
let's see....