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AUD/USD

I am among those who are making a late entry on the audusd market.


The bears are on the move, AUDUSD chart
Risk Management is of utmost importance!
Quoting NotAtrader
{quote} Nice chart! I don’t know what kind of pullback this is. Maybe just some lucky people can take d advantage of this situation and get out of their stuck longs, but imho the trend down may continue for ate least 200-250 pips all according to my previous analysis: https://www.forexfactory.com/thread/...3#post14147093 After this is done, all technicals and fundamentals suggest a return to higher levels - probably 0.67xx. Let’s see. I am not advising anyone. Confirm with your own analysis before using this idea. Good luck ...

Hi
Is the general trend up? Forecast ?
Quoting masoudja
{quote} Hi Is the general trend up? Forecast ?
Hi,
Check this post:
https://www.forexfactory.com/news/11...t#post14213005

Now that the breakout is a fact, we should expect an uptrend.

However 0.6650 is a key level and it might provide a resistance. If that level gets breached then 0.6870-0.6900 is the next level to watch.
The market uncertainty continues as the midterm election results in USA are still being counted.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Long term and all the trend view on AUD/USD

Double candlestick pattern on 2y (2 years) timeframe of bullish engulfing and bullish hammer could lead to strong and
sustained bullish trend for at least 6 years . (good opportunity for investors only)

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Zooming in searching of supply and demand levels we can spot a potential long term Accumulation wich will be confirmed only if a higher high will be made, triggering a buy stop order.

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Money moves the market, not an indicator.
Quoting Vincent1
{quote} On lower time frame, possible inverted H&S, waiting for confirmation {image}
Update
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  • Post #107,846
  • Quote
  • Edited Nov 13, 2022 6:59am Nov 12, 2022 1:50pm | Edited Nov 13, 2022 6:59am
Yes things point upwards for AUDUSD, but……..

Look at this W1 chart and pay attention to the three resistance/support points, the horizontal R/S level and the two bearish trend lines. As I said earlier, we need a sustained penetration above these levels in order to consider a trend change from bearish to bullish. This is about the big picture and for long term traders.

The short term picture, however, might be different and quite nervous. In any case short term traders, daily traders and scalpers should be able to take advantage of the current situation characterized by a lot of volatility and ranges of 100-200 pips up and down.

Please take a look at the chart below and share your opinion.

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Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
Yes things point upwards for AUDUSD, but…….. Luuk at this W1 chart and pay attention to the three resistance/support points, the horizontal R/S level and the two bearish trend lines. As I said earlier, we need a sustained penetration above these levels in order to consider a trend change from bearish to bullish. This is about the big picture and for long term traders. The short term picture, however, might be different and quite nervous. In any case short term traders, daily traders and scalpers should be able to take advantage of the current situation...
Hi NotAtrader,

Thursdays Bullish move caused a Massive Imbalance in Price this Imbalance will be Filled sooner or later

Considering where Price Closed on Friday, within a Weekly Swing Low, we can Anticipate a PullBack to Test Structure

BUT, Price will do what Price will do what we think is of no Importance I advocate just Following Price without question

Of course it is far easier to just Follow Price if you are a Short Term Trader (Scalper)......
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Quoting stevepatt
{quote} Hi NotAtrader, Thursdays Bullish move caused a Massive Imbalance in Price this Imbalance will be Filled sooner or later Considering where Price Closed on Friday, within a Weekly Swing Low, we can Anticipate a PullBack to Test Structure BUT, Price will do what Price will do what we think is of no Importance I advocate just Following Price without question Of course it is far easier to just Follow Price if you are a Short Term Trader (Scalper)...... {image} {image} {image}
Hi and thanks for your view.
I have really no idea where the price will go as these times are not easy times for providing a good and reliable forecast.

Said that, I won’t be surprised if the the price shows unable to penetrate higher than where it closed on Friday. But as mentioned many times already, following the price is the only thing I can do. I am a short term trader often a scalper. But I always welcome the challenge of a long term positioning any time I see the opportunity and I need to be 100% sure. Example: when EURUSD reached parity. It was quite clear to me that the price will return UP in attempt to defend the EUR. It did go up 250-300 pips before falling down again.
Now I am not quite sure what will happen because the fundamentals are a chaos. The technicals suggest that the downtrend will continue after this pullback.

Happy trading
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
Yes things point upwards for AUDUSD, but…….. Luuk at this W1 chart and pay attention to the three resistance/support points, the horizontal R/S level and the two bearish trend lines. As I said earlier, we need a sustained penetration above these levels in order to consider a trend change from bearish to bullish. This is about the big picture and for long term traders. The short term picture, however, might be different and quite nervous. In any case short term traders, daily traders and scalpers should be able to take advantage of the current situation...
I agree with your view! AU still should retrace after this retrace and continue up in ST/MT. The LT is bearish.
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Quoting NotAtrader
{quote} Hi and thanks for your view. I have really no idea where the price will go as these times are not easy times for providing a good and reliable forecast. Said that, I won’t be surprised if the the price shows unable to penetrate higher than where it closed on Friday. But as mentioned many times already, following the price is the only thing I can do. I am a short term trader often a scalper. But I always welcome the challenge of a long term positioning any time I see the opportunity and I need to be 100% sure. Example: when EURUSD reached...
with bullish or bearish forecast .How much can it decrease in the short term?
Quoting masoudja
{quote} with bullish or bearish forecast .How much can it decrease in the short term?
In case of bullish move it could go to 0.6850-0.6900.
In case of bearish move it could fall down to around 0.6550 during the first leg.

As i said it's not a good time for providing reliable forecast due to the geopolitical tensions and the economical implications as a result of that.

I hope this helps.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Looks like 0.69 coming up for the Aussie bulls
Late enough here, off to bed
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Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting trumps
Looks like 0.69 coming up for the Aussie bulls
Aussie bulls and USD bears actually

Definitely, 0.69 is the target

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Maximize wins, minimize loss, stay in the game as long as you can
Counter-Trend Entry Return This Week: 0.4%
According to today's chart, what is the forecast?
set up td9 sell
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the market is setting up a seller's trap, IMO. The NY equity hour will show us the direction to the upside. let's see.

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Always learning
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Gray channel is target...
Climbing to 0.6730 earlier today, the price actually retested the daily support of 0.6733 which got broken yesterday. After this retest the price made a small sell off of some 70 pips and then made a 50% retracement after which it fell back down again. Now it looks like this level will be the Friday close which sealed the confirmation of the bearish divergence from yesterday on H1 TF.

I am now looking at a possible extension to this downfall next week. The next levels to each, in case the price continues south, are 0.6550-0.6530

Not an advice. Just my view. Confirm this view with your own research before trading it.

Good luck
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
Climbing to 0.6730 earlier today, the price actually retested the daily support of 0.6733 which got broken yesterday. After this retest the price made a small sell off of some 70 pips and then made a 50% retracement after which it fell back down again. Now it looks like this level will be the Friday close which sealed the confirmation of the bearish divergence from yesterday on H1 TF. I am now looking at a possible extension to this downfall next week. The next levels to each, in case the price continues south, are 0.6550-0.6530 Not an advice. Just...
As expected the price continues moving to the downside. It almost touched 0.6600 which is a psychological level. Breaking this level may see the price going down to 0.6530-0.6550
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
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