Browse By

AUDNZD: D1 1234 reveals WRMB of 8 weeks high

Last Friday, a tweet was given out on AUDNZD.

On the D1 chart, we can see that month to month AUDNZD is still down.

D1 chart on AUDNZD shows 1234

D1 chart on AUDNZD shows 1234

    • Month to Month, price is down.

 

  • Expansion in December 2013 was a break down of 5 months worth of lows meeting a big move criteria.

 

 

  • We can also determine that the slightly uppish move this year is merely a 50% retracement of the downflow.

 

 

  • Last week (Wk #24) price expanded downwards and has closed below 4 months of highs with Mar 2014 high as a last immediate support.

 

 

  • A 1234 can also be seen on the D1 charts with a WR completed.

 

 

A WRMB of previous 8 weeks high can be seen on the AUDNZD charts.

WRMB of 8 weeks high on H4 charts of AUDNZD

WRMB of 8 weeks high on H4 charts of AUDNZD

On H1 charts, a small 1234 pattern is visible

Small 1234 on H1 charts visible

Small 1234 on H1 charts visible

    • Following a close below previous week low, any retracement back to see the low as resistance in the form of a 1234 can offer opportunities for entry.

 

 

(Updated 18 June 2014 – By Jerome)

Price has since moved as predicted, dropping 63 pips as it reached the 1st support zone. If price is able to close below this existing support, the next support zone will be 100pips away.

Price moving down as predicted as seen on H4

Price moving down as predicted as seen on H4

 

(Updated 20 June 2014 – By Jerome)

Possible 1234 pattern forming on H4 of AUDNZD

Possible 1234 pattern forming on H4 of AUDNZD

    • Price is supported and seems to be heading up towards to retest resistance.

 

  • We can also that a possible 1234 pattern forming.

 

 

  • Take note if price closes above the grey resistance zone then that could turn to become support allow price to head higher.

 

 

 

Updated by Binni 1 Jul 4.00pm

Referring to AUDNZD tweet, the first time we entered this trade was 13 Jun, price was around 10840. This trade reached 1st level mentioned, 10770-80, with average 65-70 pips profit  


Second time I tweeted again on it, saying 

On second tweet, price reached low of 10720 and rebounded. If one has entered again at 10765, then at current price, this would result in a loss of 35 pips. Therefore, combining both trades, this would be a gain of about 30-35 pips.

""

Summary of AUDNZD trade

I never bite my words, a win is a win, a loss is a loss. At this moment, if price is above 10790, this trade is not good. Thus if you have followed through both trades, you would have resulted in a nett win. But if you have selectively followed only the second one, then it will be a loss to you.

Again, I don’t reap benefit from my tweet, I just like to share my experiences with all of you, so you can gain your experiences faster! Good luck!

Last time, many things that I wanted were just dreams, now I see them as possibilities. I’m looking forward to own pent-house suite in Manhattan overlooking Central Park because forex trading with Tflow® makes it possible. Find me on Google+

53Shares
Loading Facebook Comments ...

Leave a Reply