Have a look at my previous post for context and scenario's.
Price is breaking lower and with FOMC on the agenda later today we have to be careful.
For the bullish scenario I like to see a daily candle close back within the triangle. In that case I will wait for a consolidation before looking for a buy AUDUSD. I will update in case this scenario becomes active.
The other scenario is to sell AUDUSD. Due to the clear break lower, I will wait for a retest/consolidation of the lower triangle line towards 38.2% Fibonacci ratio (also a harmonic target for that possible BAT buy pattern).
Once we see it consolidate I will look for the break lower to sell AUDUSD.
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Price is breaking lower and with FOMC on the agenda later today we have to be careful.
For the bullish scenario I like to see a daily candle close back within the triangle. In that case I will wait for a consolidation before looking for a buy AUDUSD. I will update in case this scenario becomes active.
The other scenario is to sell AUDUSD. Due to the clear break lower, I will wait for a retest/consolidation of the lower triangle line towards 38.2% Fibonacci ratio (also a harmonic target for that possible BAT buy pattern).
Once we see it consolidate I will look for the break lower to sell AUDUSD.
www.timstuyts.com
facebook/wwwtimstuytscom/
