AUD Pairs Break From Consolidation Patterns – Looking to Buy On Corrections

audchf squeeze break

A lot of action going on across the AUD pairs this Asia session. Some news came out for the Aussie better than expected and drove these markets out of their consolidation structures.

First one is the AUDCHF market which I’ve been watching.

There has been a nice price squeeze pattern here, which has now broken to the upside. Due to the rapid move from the news, I was unable to catch this breakout.

I am looking to see if the market corrects here and re-tests the old consolidation structure resistance as new support.

Next market I am also interested in is the AUDNZD…

audnzd h4 box breakout

There was an inside candle that formed over the weekend. I checked out the 4 hour chart to see what was happening there and noticed this box structure.

This box will looking like a ranging market on even lower time frames. Nevertheless – it’s a structure which the market will ‘break’ from.

Aligning with the AUD strength, the box has broken the high side as we can see the bullish breakout candle.

Again, the move was too explosive to catch, so now I am looking to see if we get a correction back into the old box structure resistance, and see if it holds as new support.

A bullish reversal signal here will be a very nice h4 swing trade opportunity.

 

AUDNZD Churned Up Like A Washing Machine…

audh4

Unfortunately, we didn’t see that clean buy signal off old support we were looking for.

Instead price dropped back down into the box structure, then broke the bottom, and now looks like it is bouncing back up again.

This has become a messy situation that is best avoided. However, no money was invested here because no signal generated when the structure was re-tested.

This is a good example of how confirmation with candlestick signals can save your butt.

Want to Try My MT4/5 Tools ? Download Here...

trade panel

Trade Panel

battle station

Battle Station

chart builder

Chart Builder

market analytics

Market Analytics

Howdy traders,

By popular request, I've release trial versions of all my custom MT4/5 tools myself and the War Room traders are using in our day to day trading.

Follow the download button below if you would like to try them out :).

Download

4 Comments...


  1. SOKHA TUY comment display photo
    SOKHA TUY
    why not place a buy limit at the support below? and place SL below the consolidation [email protected] 0.7260
    1. Dale Woods comment display photo
      Dale Woods
      Because I want to see if the pattern will hold. Otherwise there is a risk of being caught in a fake out.

  2. inderjeet comment display photo
    inderjeet
    so greatttttttt sir god bless you keep it up....

  3. inderjeet comment display photo
    inderjeet
    loveeeeeeeeeeee youuuuuuuuuuuu sir you are very good person because you share your all forex trading secrets
Your Feedback is Important to Me - Please Submit a Comment Here...