In this video I cover a few of the price action patterns that formed last week which became quality trade setups themselves. I also take a look at the most current price action and what it is telling me about where the market may be heading this coming week. I only cover a handful of the patterns as there are many other patterns at play such as rising triangles and pennants
AUDUSD has thrown mostly bullish price action signals at the hourly level with only 1 or 2 bearish signals that ultimately failed going into Friday. With bullish price action patterns continuing to form and bearish pattern failing and being invalidated the bullish bias is still intact. The current flag pattern sets up the potential of the next leg higher as long as price can hold above the upper channel of the flag now that it has broken out. In the long term I am looking at a break above the high of the weekly pin bar to begin getting very bullish on this pair.
AUDUSD has thrown mostly bullish price action signals at the hourly level with only 1 or 2 bearish signals that ultimately failed going into Friday. With bullish price action patterns continuing to form and bearish pattern failing and being invalidated the bullish bias is still intact. The current flag pattern sets up the potential of the next leg higher as long as price can hold above the upper channel of the flag now that it has broken out. In the long term I am looking at a break above the high of the weekly pin bar to begin getting very bullish on this pair.