I measured bearish impulse by placing 0.236 right below ABCs and we can see how price retraced around 0.618, at this point I expect to sell the breakout all the way to previous support where -0.27 is, with Trend-Based Fib Extension I confirmed area with 1.618 around -0.27.
MACD has a strong resistance at top, which confirms bearish impulse.
Good Trading. -4h Chart
MACD has a strong resistance at top, which confirms bearish impulse.
Good Trading. -4h Chart
Uwaga
First retracement with ABC pattern for bearish continuation.Good Trading. -1h Chart
Uwaga
Bearish ContinuationGood Trading. -1h Chart
Uwaga
-0.27 has been reached, I expect second retracement to happen for bearish continuation.Good Trading. -15min Chart
Uwaga
Bearish ContinuationRunning Flag was formed with some confirmations
- point A at 0.5
- point B at 0.382
- point C at major retracement 0.786
- double top at 0.786, but no retest in MACD
239.1 Pips all the way to -0.27
Good Trading. -1h Chart
Uwaga
2618 was completed inside Running FlagConfirmations for 2618:
- double floor
- measure impulse
- wait for retracement at 0.618
- TP are -0.27 and -0.618
We can see how -0.618 is around 0.786 from Running Flag, even made a double top, which gives us our bearish continuation.
Good Trading. -15min Chart
Uwaga
We got our bearish impulse with first flag formation, I measured bearish impulse placing 0.236 right below consolidation and we can see flag is inside 0.5 - 0.236 retracements, which gives us our bearish continuation.Good Trading. -15min Chart
Uwaga
Possible Ending Diagonal- 1 and 4 at same price
- both flags respect Fibonacci levels
- 0-1 will be same distance as 4-5
Which is what we need for point 5 completion, where we can buy all the way to 0.786 just to confirm resistance and continue bearish.
Good Trading. -15min Chart
Uwaga
Bearish Continuation at 1.618Good Trading. -15min Chart
Uwaga
I published new idea where I will be updating AUDUSDGood Trading -4h Chart
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