AUDUSD W - breakdown Tl and pullback
Hi traders.
On this cross the TL2 was broken with retest.
This alone could be read as a bearish signal.
However, further observations can be made:
a) the test arrived as a rebound on the ema13 and ema26 and the value was refused going to close under the fast;
b) the oscillator has overbought and the TSI confirms the sentiment bearish;
c) the monthly is in range with inertia and momentum (even if weak) bearish;
Turning to the daily
The correction that has reached the TLs can be clearly identified (point "C" of the pattern AB = CD). In this point also the static resistance passes.
I draw the 1x1 Gann to identify the equilibrium TL that will give me the short entry when it will be broken downwards.
The target can be taken from the AB = CD pattern, where a clear static support passes.
P.S.
I need to better my english, so if you don't understand something, you can asking without problem.
On this cross the TL2 was broken with retest.
This alone could be read as a bearish signal.
However, further observations can be made:
a) the test arrived as a rebound on the ema13 and ema26 and the value was refused going to close under the fast;
b) the oscillator has overbought and the TSI confirms the sentiment bearish;
c) the monthly is in range with inertia and momentum (even if weak) bearish;
Turning to the daily
I draw the 1x1 Gann to identify the equilibrium TL that will give me the short entry when it will be broken downwards.
The target can be taken from the AB = CD pattern, where a clear static support passes.
P.S.
I need to better my english, so if you don't understand something, you can asking without problem.