SMALL RISE ON AU??Price is holding the 15 min low in the current range indicating a small retracement is on the cards. Target is the 15 min inverse resistance where the overall bearish trend is likely to continue from.
ONLY TIME WILL TELL.
AUDUSD trade ideas
AUDUSD🇭🇲🇺🇲 Bearish momentum continuesSince the US Dollar has been gaining strength every currency it's pairs against keeps declining and that's what's happening with AUDUSD.
AudUsd Trade IdeaAnother bearish pair and set up I'll look to get into this morning is gonna be AU. AU is extremely bearish on all time frames. Price is currently approaching a LH at a solid level of resistance as well so going short from that level would be ideal for me. I'll personally be waiting on lower time frames to flip from that level before looking to get into any shorts. We'll see what happens. I'll be looking to target the lower low with stops just above structure and the resistance level.
AUDUSD: 4D/4H Curve AnalysisPIVOT HIGH = Resistance @ 0.69348
PIVOT LOW = Support @ 0.64724
⚠️ HIGH RISK SELL ORDER
(with tight stop loss)
FINAL TP @ 0.6565
AUDUSD holding channel and key Fibonacci levelIntraday Update: The AUDUSD has come very close to the 61.8% retracement at .6575 after bouncing off channel support. Expect this to be support today on any dip.
DeGRAM | AUDUSD rebound from the channel boundaryAUDUSD is moving in a descending channel under the trend lines.
The chart has already reached the lower boundary of the channel and the support level.
The price has approached the trend line.
We expect growth after consolidation above the trend line.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
AUDUSD BUY STOPAUDUSD is making lower Highs and lower Lows, it is in down trend but now it formed RSI divergence. it will likely to change its up trend into up trend so place the buy stop order above LH
Trade idea - AUDUSD Short1H
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
= Instant market execution Sell.
1.5% risk.
Aiming to take full profit at Daily TP.
Possibility of uptrend It is expected that a trend change will be formed in the current support range and we will see the beginning of the upward trend. If the support range is broken, the continuation of the downward trend is likely
Read the AUDUSD MarketLet's Look at AUDUSD Chart and make some Decisions for this Week, Good Luck With Your Trades <3
Potential bullish reversal?AUD/USD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.6586
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 0.6530
Why we like it:
There is a pullback support level that aligns with the 127.2% Fibonacci extension.
Take profit: 0.6646
Why we like it:
There is an overlap resistance level.
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AU Short - looking for price to pull into VA / POC and then sellers to step in. then I will look to ger in.
I'll Long AUDUSD If This HappensI've been following AUDUSD closely, and since February 2021, we've been in an extended downtrend on the monthly timeframe. However, for the first time, we saw a break of structure (BoS), as the September monthly candle managed to break and close above the previous monthly LH. This break of structure is notable, as it could indicate a potential shift in the long-term trend.
Though the impulsive move that resulted in September's break of structure wasn’t the strongest, likely due to price respecting the month-long trendline, it'll be interesting to see if buyers can defend price so that the current monthly HL isn’t taken out by sellers.
While we’re seeing a large sell candle in October, buyers can still be considered in control as long as the monthly HL remains unbroken. Let’s move to the weekly timeframe to see if any interesting price data emerges there.
On the weekly timeframe, as seen in the chart above, the previous weekly HL has been broken meaning sellers are gaining control over the buyers as they were able to break and close below the previous low. Not a single rejection.
But does this mean we should all scream sell and short the life out of AUDUSD? Well, our business is not to be on the sell or buy team, our concern should be to make money regardless of the market trend. To do that, we need to look for patterns that suggest the probability of one outcome over another. That’s exactly why we’re doing this top-down analysis. So far, from the monthly timeframe down to the weekly, nothing has clearly indicated where we should buy or sell, even though we’re seeing strong red impulsive candles. Next, let's check the daily.
Now, take a look at that pattern on the daily timeframe. What pattern is that? A bird pattern? Or maybe a plane pattern. (I'm Joe King.) It’s actually a falling wedge, a reversal pattern. But does that mean we should start buying AUDUSD? Not yet. It means we should start watching for a change in structure, perhaps on the 4-hour timeframe. Only then should we look out for our entries.
Still no trading decision, so let’s check the 4-hour next. Please stay with me.
Still no trading decision on the 4-hourly, but there’s a plan. If price can impulsively break the 4-hourly LH at 0.66611 and stays above, then I’ll be looking for a buy on a pullback, probably on the 1-hour timeframe, where I typically look for entries.
But… what happens if price continues to trend down? Since I trade based on structure, I’ll be watching for price to pull back after breaking and trading decisively below the weekly HL at 0.66220 .
One key lesson I’ve learned in my trading journey is that it’s not just about price breaking a zone; it’s about how it breaks it. From the weekly, we saw price break the weekly HL at 0.66220 . But as we scale down to the daily and 4-hourly, the pattern behind this break hints at a possible reversal.
What are your thoughts on AUDUSD this week? Please share in the comment.
My trading rule is simple, don't take position based on what you anticipate price will do, take position only when price does what you anticipate and presents you a point of entry.
AUDUSD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
AUDUSD NEXT MOVE POSSIBLEAUDUSD NEXT MOVE POSSIBLE....
The AUD/USD pair is awaiting a sell from the order block.
AUDUSD Bullish ScenarioThe price level of 0.66225 is broken, we can expect AUDUSD to turn bearish until it reaches the demand zones on the chart. After it touches the demand zone, we’ll monitor the market structure, looking for a change of character on both lower and higher time frames. Entering a short term or even long term buy setup could then be suitable, but only with confirmations from the higher time frames.
Specific explanations are provided for each zone and movement on the chart. If you have any opinions, feel free to share them in the comments section.
Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Is the Australian dollar a buy? I think so!A beaitiful wedge pattern may have completed as 10/26/2024. I am going out on a limb to call this a bottom! So trade at your own risk, as this is for educational purposes only! Good luck with your trading!'
AUDUSD - Bullish Breakout Scenario20SMA - Blue
200SMA - Pink
Key Confluence Areas - Grey Lines
Resistance & Support - Dashed Green & Red Lines
Your interest motivates me.
How I see it:
A "Falling Wedge" pattern is usually a good indication of a possible trend reversal.
First, a clear breakout and retest of this wedge is necessary.
Anything is possible.
Thank you for your time reading, boosting or following my analysis.
I deeply appreciate it.
Shorting My Fave Currencies AgainDISCLAIM : I AM NOT POSTING THIS FOR ANYONE TO TRADE ON MY BEHALF I AM NOT A FINANCIAL ADVISOR PLEASE KNOW YOUR TRADES ARE YOUR OWN CHOICE . DYOR
As A Returning Trader, I Have Been Watching Trader News And Other Traders Trade Ideas. I Am A New Oanda User So I'm Learning The Platform And Timing With My Entries And My Exits.
I Have Been Considering Short Trades During The First Few Days Of The Week As The DXY Seems To Continue To Rise My Most Watched Pairs Are AUD/USD, EUR/USD, And GBP/USD And Occasionally USD/JPY But My Focus Are The First 3. (I May Trade These Currencies To Focus My Trades With Gold But In The Meantime) The Dollar Value Has Gone Up For 4 Weeks Now And If It Continues Thes Pairs Will Still Be Good For Shorts. Im Posting This On A Saturday Checking My S/R Levels For The Upcoming Week...
Im Not Too Confident About Exact Numbers But AUD/USD Has Already Broken Support For Me.
GBP/USD And EUR/USD Have Already Made It To My .50 Fib By Friday But Theres Still Room For Movement I Might Wait For A Little Bit Of Retracement Before I Think About An Entry .
Any Seasoned Traders I Would Appreciate Any Feedback Or Ideas You Are Willing To Give.
AUDUSDThere is Bearish trend but we found Bullish Divergence and also Falling Wedge reversal Pattern. So, will take entry when the reversal will be confirm when it will break the last LH.
Using Renko Charts to Uncover SECRET Bank LevelsRenko charting has a unique way of displaying price data by filtering out smaller fluctuations and focusing only on substantial price moves. With a setting of Average True Range (ATR) 13, Renko charts become even more powerful for finding key institutional levels—what many traders call "secret bank levels." These are the levels where large institutional traders place their orders, often leading to significant price moves. In this tutorial, we’ll dive into how you can use Renko charts with an ATR setting of 13 to identify these bank levels and improve your trading strategy.
What Are Secret Bank Levels?
Institutional or bank levels are price points where big players—like banks and hedge funds—are likely to buy or sell in large quantities. Retail traders can leverage these levels by understanding where the big money is moving, aligning their trades accordingly. Renko charts, with their clarity in price movement, help identify these areas by smoothing out noise and highlighting essential support and resistance zones.
Why Renko Charts?
Renko charts are designed to filter out minor price movements, providing a cleaner view of market trends by focusing solely on significant price changes. Unlike time-based charts, Renko charts print a new "brick" only when price moves by a specified amount, determined here by the ATR 13 setting. This brick-by-brick approach can reveal clear levels where price repeatedly finds support or resistance, often signaling where major institutions are setting up their positions.
Setting Up Renko with ATR (13)
Choose Your Charting Platform: Most charting software, including TradingView and MetaTrader, offers Renko charting. Make sure your platform supports Renko and ATR-based calculations.
Configure Renko with ATR (13):
Open the Renko chart on your selected asset (e.g., EUR/USD, GBP/USD).
In your settings, set the brick size to use the ATR indicator and specify an ATR length of 13. This setting is designed to adjust the brick size based on the recent average true range, capturing a balanced view of price movement.
This 13-period setting adapts to recent market volatility, allowing Renko bricks to reveal significant price movements that matter to large institutional players.
Adjust Timeframes:
Since Renko charts don’t follow traditional time-based intervals, switch between higher and lower timeframes (like the 1-hour or 4-hour charts) to observe different levels of institutional interest. Higher timeframes generally provide more reliable secret bank levels, but you can switch to lower timeframes for refined entry points.
Identifying Bank Levels with Renko and ATR (13)
Now that your chart is set up, let's move on to the process of identifying institutional levels.
1. Look for Brick Clusters at Key Levels
Renko bricks tend to form clusters at significant institutional levels. When you see several bricks stacked horizontally with little movement, it often indicates a zone where price is struggling to break through, either as strong support or resistance.
Use these clusters as potential entry or exit points, aligning with the institutional flow.
2. Identify Breakouts and Rejections
When price breaks out of a cluster or encounters rejection (where bricks reverse direction after hitting a level), you may be witnessing bank-level reactions.
Watch for bricks that quickly shift direction after hitting a level—these can signal that institutions have stepped in to either push price further or halt its momentum.
3. Note Patterns and Reversals at Round Numbers
Banks and institutions often place orders at round numbers, which are psychologically significant levels (like 1.2000, 1.2500).
As Renko charts with ATR (13) are sensitive to significant price changes, they can help highlight when price respects or bounces off these round numbers, offering clues to potential institutional zones.
Practical Example: Trading Secret Bank Levels with Renko
Let’s say you’re analyzing EUR/USD on a Renko chart with an ATR 13 setting.
Identify Clusters at 1.2000: After setting up your chart, you observe a cluster of Renko bricks at 1.2000, indicating a strong support zone. This level has held multiple times, suggesting institutional buying interest.
Wait for a Brick Breakout: You then see price breaking out with consecutive Renko bricks closing above 1.2000. This breakout suggests that the buying pressure might push prices higher.
Enter and Manage Your Position:
Take a buy position after confirming the breakout. Set your stop loss just below the cluster at 1.1980 to minimize risk.
If you’re looking for a shorter-term position, aim for profit at the next round number, like 1.2100.
For a longer-term trade, follow Renko’s direction, adjusting your stop as the bricks move.
Tips for Trading Bank Levels with Renko and ATR (13)
Trust Your Levels: Renko charts can simplify your analysis, but it’s easy to second-guess your levels. If you’ve identified strong clusters or patterns at certain price points, trust your analysis.
Use Alerts to Avoid Over-Trading: TradingView and other platforms allow you to set alerts at specific price levels. This way, you won’t need to stare at charts all day.
Thank you for watching and feel free to leave a comment to let me know your thoughts on Renko and if you see yourself using this chart type.
-TL Turner
