1) On the weekly chart a nice shooting star candle
2) Break of this upward structure (green line up), is likely a start of bearish move
3) pitchfork indicates we likely see a move towards the median line again
4) This pair is strongly correlated with other other AUD pairs (see related idea), also indicating downward movement is highly probable.
You can enter aggressively as shown on this chart, or a more conservative entry would be just below the consolidation area around 0.736.
Be aware of the Fibonacci levels for possible take profits.
2) Break of this upward structure (green line up), is likely a start of bearish move
3) pitchfork indicates we likely see a move towards the median line again
4) This pair is strongly correlated with other other AUD pairs (see related idea), also indicating downward movement is highly probable.
You can enter aggressively as shown on this chart, or a more conservative entry would be just below the consolidation area around 0.736.
Be aware of the Fibonacci levels for possible take profits.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.