I measured bearish impulse by placing 0.236 right below ABCs and we can see how price retraced around 0.618, at this point I expect to sell the breakout all the way to previous support where -0.27 is, with Trend-Based Fib Extension I confirmed area with 1.618 around -0.27. MACD has a strong resistance at top, which confirms bearish impulse. Good Trading. -4h Chart
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First retracement with ABC pattern for bearish continuation. Good Trading. -1h Chart
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Bearish Continuation Good Trading. -1h Chart
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-0.27 has been reached, I expect second retracement to happen for bearish continuation. Good Trading. -15min Chart
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Bearish Continuation Running Flag was formed with some confirmations - point A at 0.5 - point B at 0.382 - point C at major retracement 0.786 - double top at 0.786, but no retest in MACD
239.1 Pips all the way to -0.27 Good Trading. -1h Chart
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2618 was completed inside Running Flag Confirmations for 2618: - double floor - measure impulse - wait for retracement at 0.618 - TP are -0.27 and -0.618
We can see how -0.618 is around 0.786 from Running Flag, even made a double top, which gives us our bearish continuation. Good Trading. -15min Chart
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We got our bearish impulse with first flag formation, I measured bearish impulse placing 0.236 right below consolidation and we can see flag is inside 0.5 - 0.236 retracements, which gives us our bearish continuation. Good Trading. -15min Chart
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Possible Ending Diagonal - 1 and 4 at same price - both flags respect Fibonacci levels - 0-1 will be same distance as 4-5 Which is what we need for point 5 completion, where we can buy all the way to 0.786 just to confirm resistance and continue bearish. Good Trading. -15min Chart
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Bearish Continuation at 1.618 Good Trading. -15min Chart
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I published new idea where I will be updating AUDUSD Good Trading -4h Chart