AUD/USD

I know that there is no certainty in the market, but considering the current situations, no reason can be found for the price to plunge, but on the other hand you can name several reason for it to go up. without expectations, how are you going to make a trade then? you have to choose one side and see what the rest of the market expects.

I agree with what you say, one must have an opinion to work on, absolutely. One must also expect the unexpected. When this news came out I shorted AJ, but have already TP and finished for the week. I took 20 pips profit on a sell with negative data, and I'm happy. After 4 years trading I don't expect news to necessarily affect the market for hours or days, sometimes there's a correction then the market settles.. or reverses. I have also been in trades and had Trump decide to bomb something without telling me, or tweet something.. my point was more the volatile dynamic nature of the markets. FA has plenty of limitations, TA has plenty of limitations, sometimes its a magical mystery tour. I am not FA savvy at all, and I don't rely upon it for trade decisions. I like TA, but I also look for rejection of levels and increased volume/momentum of a direction, and keep in mind whatever the market is doing it can certainly change its mind quick smart. Forex is a challenge, for sure.
Good luck with your trades. I normally avoid Fridays as I find there's a tendency for ranging markets. I have no idea where AUS/USD will go now.

ea waiting for a back test in 120 min cloud to short sell upon rejection.
AU mild setback is temporary only.

keeping an open mind in EA. if price fails in 120 min cloud I will seek to short sell into rejection.
If PA can pierce the cloud I will look for a cloud back test and then initiate a long position in EA.
details - see chart.

my preferred bullish setup in AUDUSD failed (link below), as the rally stalled and didn't print point g on the chart.
Therefore no dip to buy. For now AU is on hold, I'll review after weekly close.
Daily candles signaling some weakness, but no context until weekly close.

https://www.tradingview.com/chart/AU...ISH-FORMATION/

Down is the way about to break 23.6fib

if bears break this daily TL and D1 close below it, I will join on the sell side.
until then - neutral.

maybe. yes. but we need D1 close < bull TL.

H4 AU is stuck in cloud, so can't really sell until we at least H4 close < cloud support.

Probably too late to enter then. Looks head and shoulders forming H4. Probably going to 1st fractal break at 61.8 or near H4 200sma

bears got price/RSI hidden div on H4, so yeah, might be turning south now.
I'm waiting for H4 close<cloud before pulling the trigger though.

I believe AU will soon return to the uptrend next week

I don't think it will be too late. In fact I'm staying out today, however I got a pretty good idea what's up next and I will update
in here after market close over weekend. I don't see any valid setups worth playing atm.

as noted previously. EA rejection from the cloud in progress. target 5940. bid now is 6070.
100+ points downside.

If you are tracking the AUDUSD market this week, consider this tchical perspective.

The AUDUSD is primarily disposed southwards. On the daily time frame, price action is presently respecting a rising trendline (magenta) and indecision candlesticks have been printed around the 50/61.8 Fib zone of the most recent down leg. Recent technical patterns on the daily time frame point to the likelihood of a brief northward move to, say, the 61.8/78.6 Fib zone before a feasible southward turnaround; this area is bound by gold horizontal lines. Nevertheless, a significant breakdown of the rising trendline (magenta) on a daily closing basis will dispose the bears for a southward continuation. I am bearish AUDUSD.

On the H4 time frame, recent price action has printed low-tail candlesticks around the rising trendline (magenta) seen on the daily time frame. The last session on Friday printed a bullish but miniature candlestick, indicating a lack of directional momentum. But technicals on the H4 time frame indicate the likelihood of a brief move northwards, which is not likely to be sustainable as there are a few technical barriers to be contended with by bulls. A southward turnaround is likely to materialize after a brief pullback or sideways of market operation.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Price is going hit this SL cluster. Big BOOM! ahead

Follow my thread

From what im seeing from the chart, price is currently approaching that horizontal support. Price has also formed a falling wedge pattern. Both of this are implying a forthcoming bullish move. would watchout for a break at apex of the wedge which should be at that support. lets see how this plays out.

- If we break 0.6767 then 0.6705 next

buy@
wait for Stochastic cross 4H

my chart H3 to short