AUDUSD - Plan for future Long Position - Large Reward Potential
Hello all
I have been watching this for a while and it is starting to play out.
On USDCAD, there is a large monthly engulfing candle for Jan 2019.
Similarly on many other pairs inc AUDUSD, printed in Jan 2019 there is a large bullish candle.
On the weekly it also printed a nice bullish pin bar at support.
I am waiting for it to pull back to the 61.8 area of that weekly candle - (or near to this)
Once i see a Head & Shoulder pattern, or other reversal pattern, I will be looking to go long and i do expect after a bit of consolidation, for it to take off quite quickly.
At the time, it will be down to a political event and fundamentals, however you can see in Jan 2019, where the market intends to go later in the year, purely on price action.
This is echoed too on the EURAUD for longer term short positions whilst it currently retraces upwards.
I expect the second half of 2019 to destroy the dollar
Just an idea, thanks for reading.
I have been watching this for a while and it is starting to play out.
On USDCAD, there is a large monthly engulfing candle for Jan 2019.
Similarly on many other pairs inc AUDUSD, printed in Jan 2019 there is a large bullish candle.
On the weekly it also printed a nice bullish pin bar at support.
I am waiting for it to pull back to the 61.8 area of that weekly candle - (or near to this)
Once i see a Head & Shoulder pattern, or other reversal pattern, I will be looking to go long and i do expect after a bit of consolidation, for it to take off quite quickly.
At the time, it will be down to a political event and fundamentals, however you can see in Jan 2019, where the market intends to go later in the year, purely on price action.
This is echoed too on the EURAUD for longer term short positions whilst it currently retraces upwards.
I expect the second half of 2019 to destroy the dollar
Just an idea, thanks for reading.
