This is another high probability trade / scenario i consider apart from ones I have already posted on this pair.
That is long term trade and should take weeks / months to complete pattern.
We have clear divergane in MACD.
We have accumulation of long positions in range 1.02670 - 1.06000.
Cross market analysis indicates aussie will be getting stronger against some major currency pairs in coming weeks.
All above leads me to conclusion this might be one of best trades in second half of this year.
We already have had an impulse on lower timeframe which might be beggining of huge upmove.
There ia also possibility for more downside however I think it is taking off.
That is long term trade and should take weeks / months to complete pattern.
We have clear divergane in MACD.
We have accumulation of long positions in range 1.02670 - 1.06000.
Cross market analysis indicates aussie will be getting stronger against some major currency pairs in coming weeks.
All above leads me to conclusion this might be one of best trades in second half of this year.
We already have had an impulse on lower timeframe which might be beggining of huge upmove.
There ia also possibility for more downside however I think it is taking off.
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Price going lower with high possibility to break previus two swing lows
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Nice impulse on weekly.
At the moment i consider number of options for longs.
It could be a leading diagonal structure or even triangle.
We need more pieces to indentify.
At the moment i consider number of options for longs.
It could be a leading diagonal structure or even triangle.
We need more pieces to indentify.
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Current structure leads me to a conclusion more and more we looking at leading diagonal formation, however, I did not cross other options yet It is still not clear.
Watch price action when reaching black trend line and if do not reverse from there should get to the top of the yellow zone.
Watch price action when reaching black trend line and if do not reverse from there should get to the top of the yellow zone.
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Price possible reached reversal point.