Primed for reversal AUDCAD
Double bottom has formed on the D1 tf, with a Bullish Gartley completion.
Last 4 candles on the 4hr tf are Bullish Pinbars, with the last one forming at the
resistance zone, RSI is at oversold, signifying a strong bullish momentum.
The strong bullish momentum is clearly evident on the lower tf. With the last candle
being a strong bullish engulfing candle, totally engulfing the last 3 bears.
Down at the 15/30m tf, a inverse Head and Shoulders can be spotted as well as the EMA8
crossing the EMA13 on the upside further confirming the imminent reversal.
Although price is below the 200EMA, signalling a downtrend market, all indication are in for a
reversal. Completed Gartley, Pinbars, Head and Shoulders and an Oversold RSI all points for a
market reversal. Look for entry once the price closes above resistance.
Last 4 candles on the 4hr tf are Bullish Pinbars, with the last one forming at the
resistance zone, RSI is at oversold, signifying a strong bullish momentum.
The strong bullish momentum is clearly evident on the lower tf. With the last candle
being a strong bullish engulfing candle, totally engulfing the last 3 bears.
Down at the 15/30m tf, a inverse Head and Shoulders can be spotted as well as the EMA8
crossing the EMA13 on the upside further confirming the imminent reversal.
Although price is below the 200EMA, signalling a downtrend market, all indication are in for a
reversal. Completed Gartley, Pinbars, Head and Shoulders and an Oversold RSI all points for a
market reversal. Look for entry once the price closes above resistance.
Commento:
AB=CD completion further supports probability of reversal.