Is that a Hammer on AUD/USD after a "flash crash"?
Prior State: The AUD/USD has been falling for most of 2018 until a rally in early November brought the price outside of the down channel.
Current State: Price has been rangebound since the channel breakout between .7050 and .7325. While we have no trade open, we have theorized the possibility a base is forming, and higher prices are the next move.
Future Forecast: With higher prices in mind can we consider yesterday's extreme price movement a "Hammer"? In my opinion - No. The fact price recovered is Bullish, but without some volume behind price, all patterns mean nothing. The "flash crash" witnessed here doesn't represent enough value to factor into a pattern. I'm still looking for price to finish above .7050 before continuing to see the possibility of a Bullish move next.
Current State: Price has been rangebound since the channel breakout between .7050 and .7325. While we have no trade open, we have theorized the possibility a base is forming, and higher prices are the next move.
Future Forecast: With higher prices in mind can we consider yesterday's extreme price movement a "Hammer"? In my opinion - No. The fact price recovered is Bullish, but without some volume behind price, all patterns mean nothing. The "flash crash" witnessed here doesn't represent enough value to factor into a pattern. I'm still looking for price to finish above .7050 before continuing to see the possibility of a Bullish move next.
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For more analysis, signals, education, and more sign up for Forex Forecast. It's free.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.