AUDUSD down from LEVEL

[Ronald Ray]

If price impulses down, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.

If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.

If there's any ambiguity then I will not place a trade on this pair.

[Ronald Ray]

After the second top at 0.7150 at the beginning of the month, AudUsd dropped hard area and reached 0.6850 in just 3 days.
A recovery followed, but we can see that this rise lacks impulse, is corrective in nature, and is, in fact, a flag pattern .
Rallies above 0.7 are also clearly sold so, I expect a new leg down from AudUsd .
The target for this drop is the 0.67 zone and this bearish scenario is negated by clear buying power above 0.7

[Ronald Ray]

Looking at the H4 chart, my overall bias for AUDUSD is slightly bearish as there is a key resistance level , Looking for a sell entry at 0.69969 where below the overlap resistance and 23.6% Fibonacci retracement . We are looking to take a profit at 0.68592, which is the recent swing low, Stop loss will be placed at 0.71414, where the recent swing high is.

[Ronald Ray]

Hello,Traders!
Anyone with more than
Two brain cells can see
A clear H&S pattern on
The pair so we are bearish
Biased mid-term, but
The neckline and strong
So before we see a breakout
We can expect a local rebound
So you can buy now, but
I will be waiting for the
Breakout to short later
Buy!

[Ronald Ray]

AUDUSD recently made a false break by printing pinbars .

The price is likely to test the resistance zone since the price broke and closed below the ascending channel .

The market is consolidating on the 4H timeframe following a sell off.

We expect a bearish move.

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Share your opinion in the comments and support the idea with a like. Thanks for your support!
 

[Ronald Ray]

HELLO TRADERS

It seems like on a weekly timeframe this pair reached a resistance or supply zone (LOWER HIGH) and to back this up with top down analysis on a daily timeframe , the market formed a head and shoulders chart pattern which is a reversal chart pattern.
Moving on to the 4 Hour timeframe the market broke the neckline, probably confirming the new direction of the market.
Before any sell orders the market has to go through a correction phase to release buyers that are still in the market.
On the 1 Hour timeframe, traders should be vigilant for reversal candlestick pattern, chart pattern or Fibonacci retracement for entries......
 

[Ronald Ray]

Aussie may be fruitful to sellers in the next couple of weeks pouring out a healthy opportunity to expect over 200 pips, here are the technical aspects you should consider:

1- Head and shoulders reversal pattern spotted, marking the start of the downtrend
2- Daily lower trendline has been breached and broken low (another reason to expect a downtrend)
3- Head and shoulders structural neckline broken and retested

The white and green horizontal lines mark the secondary and primary structural targets!

Best of luck and happy trading folks 🙂
 

[Ronald Ray]

After breaking the support trend line, AUDUSD is currently in need of a minor correction. The current price action suggests that a pullback and retest of the trend line is likely to occur. If the price is rejected at this key zone, I will wait for a bearish engulfing candle before considering a sell position, particularly if it breaks the support zone marked in yellow.

However, if the price continues to rally up, my bearish bias will be invalidated. It's important to monitor the market closely and be prepared to adjust your trading strategy accordingly.

What are your thoughts on this? Feel free to share your comments below.
 

[Ronald Ray]

The market fell from resistance, it failed to update its highs. The market is ranging. It has broken through support levels and it pulled back after bearish movement. Price has bearish momentum and it might continue falling. I expect a move down from the resistance zone because the market trend is bearish . My target is 0.66510 support level .

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻