Hello,
Welcome to this analysis about AUDUSD, we are looking at the 2-hour timeframe perspectives. In recent times AUDUSD moved on with important determinations as it pulled back in the structure and as I discovered how it is forming not only one decisive formation that will be an important factor in the next times. As when looking at my chart now we can watch there how AUDUSD has formed this major descending-channel-formation with a coherent wave-count within and the wave A already completed. Now as AUDUSD bounced within the lower boundary of the channel it moved on to develop this bear-flag-formation in which it has a wave-count within as well. When this wave-count has been completed and AUDUSD showed up with a breakout below the lower boundary this will mark the continuation to the downside and once this happened AUDUSD will point to the wave-count-target-zone marked in my chart in blue. Once this zone has been reached it will be decisive on how AUDUSD reacts into it and if there comes an appropriate bounce in the structure or not, when a bounce comes up this can lead to a great reversal and potential completion of this whole descending-channel with a breakout to the upside as well, it will be an important development ahead.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis about AUDUSD, we are looking at the 2-hour timeframe perspectives. In recent times AUDUSD moved on with important determinations as it pulled back in the structure and as I discovered how it is forming not only one decisive formation that will be an important factor in the next times. As when looking at my chart now we can watch there how AUDUSD has formed this major descending-channel-formation with a coherent wave-count within and the wave A already completed. Now as AUDUSD bounced within the lower boundary of the channel it moved on to develop this bear-flag-formation in which it has a wave-count within as well. When this wave-count has been completed and AUDUSD showed up with a breakout below the lower boundary this will mark the continuation to the downside and once this happened AUDUSD will point to the wave-count-target-zone marked in my chart in blue. Once this zone has been reached it will be decisive on how AUDUSD reacts into it and if there comes an appropriate bounce in the structure or not, when a bounce comes up this can lead to a great reversal and potential completion of this whole descending-channel with a breakout to the upside as well, it will be an important development ahead.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
Note
ANALYSIS UPDATE: AUDUSD continued with the wave count completion within the bear flag formation before it emerged with an accelerated bear flag breakout.AUDUSD since completing the whole bear flag formation emerged with heavy bearish momentum reaching all of the target zones.
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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.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
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.