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
2 thoughts on “AUDUSD290816”
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Same as NZDUSD, I also expect a retracement to WPP DPP cluster and then down. Nice analysis Thabang!
Thanks Miles