IchiMohu a écrit:IchiMohu a écrit:AUDUSD
On 1W TF, started to trade inside the cloud above weekly Supp @ 0.6847 with the price make HH & HL, price trading @ the higher / middle ranges of current wave range and at downtrend level!
- So 1W shows possibility of bullish corrective wave, if we could break the downtrend, reaching up to 0.6982.
On 1D TF, started to trade out of the cloud with bullish setup/channel confirmed by HH & HL, the price @ 1D Resis 0.6879, but there's a Double-top pattern under development at the Resis level!
- So 1D might have a continuation of the bullish wave targeting 0.7010 areas, as long as the Double-top pattern fails to form properly, or if the bullish setup hold after reaching Double-top pattern target @ 0.6760
On the 4H TF, Double tops pattern comes clear as the price rejected from 2 Resis @ 0.691/0.692 levels. price started to trade inside the cloud between 2 pivotal levels 0.687 & 0.684. Usually in similar pattern the price tend to test the SSB and from there go back to its direction.
- So on 4H we might see a retest to 0.6847 level followed by a continuation of the bullish wave targeting 0.6930.
On the 1H TF, price broke the cloud with the CS, it has a similar pivotal points as the 4H targeting 0.6845 and started to make LH & LL.
Possible trades
Start with short term short targeting 0.6845, with SL above 0.688
Long for the Constitution of bullish wave targeting 0.693/0.7010 with SL below 0.6795.
Updating AUDUSD
Started to show reversal signs on 1H & 4H, with decent reaction at the longs area.
Holding with no changes
Gave +40, SL moved to entry + holding for my target.



