AUDUSD - Bearish Gartley PatternA Bearish Gartley Pattern setup for a shorting opportunity, a bearish engulfing candle or both oscillators have to be in the overbought position and hook down before I'll engage the trade.
In normal cases, I won't be even looking at this setup, but as some of you may know I'm very sceptical on Australia Dollar and see that a strong bearish move is lurking in the shadow waiting to happen.
With all crashes, I expect an extreme bullish move to happen before it does and the bullish movement might have ended. If not this setup it will be after the next bull run.
Audcrash
Trade Ideas Position: AUDUSD ButterflyHave I not warned that Australia Dollar is going to crash? This morning there is a big move, and this is a reminder to traders who are optimistic about Australia economy. The flash crash is just the beginning, the 1st wave which I had shared months ago that the significant drop will happen around 1 June 2020 give and take. The threat is real, and the crash happens when the market break and close below 0.6350 on the monthly chart. That would pave the path of AUDUSD to 0.5365, and it will most likely happen on 1 June 2023 give and take.
I'm looking for an aggressive short
Trade Ideas Analysis: AUDUSD CrashA break and close below the recent low by drive AUDUSD to the next level low at 0.6351 and that is possible just within this year.
If a further dip should have happened, I will be looking at 0.5365 to buy on an ABCD Pattern, which can happen as far as 3 years from now.
This is the kind of analysis that I wish that I will be wrong, but it all seems so possible right now.
My long term plan for AUDUSD, I will be looking for shorting opportunity and focus in shorting this pair.