Trade plan 29 August 2016
-Daily chart
Price Action
Price is at support (MPP)
Stochastic just left oversold
Market
The 55 and 21 Moving average indicate a strong bullish trend

-H4 chart
Price Action
Price broke through support
Stochastic is heading to the oversold zone
Market
The 55 and 21 moving averages cross has occur which indicates a beginning of a bearish trend
-H1 chart
Price Action
Price indicate a strong bearish movement in the market and a possibility of a bearish trend forming
Stochastic is oversold
Market
The 55 and 21 Moving average cross has occur with a great angle of separation
Planed Entry
-waiting for a pull back on the H1 chart to either the 61.8 or 50.0 or 38.2 with a over sold stochastics

AUDUSD Daily

The 55 and 21 Moving average indicate a strong bullish trend

AUDUSD H4

The 55 and 21 moving averages cross has occur which indicates a beginning of a bearish trend

AUDUSDH1

The 55 and 21 Moving average cross has occur with a great angle of separation

2 thoughts on “AUDUSD290816”

  1. Miles says:

    Same as NZDUSD, I also expect a retracement to WPP DPP cluster and then down. Nice analysis Thabang!

  2. Thabang George Mofokeng says:

    Thanks Miles

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