CHART PATTERN: TREND LINE AND FIBONACCI CLUSTERS MAY SEND AUDJPY SOUTHWARD






Though my weekly target had been met due to a string of good trades, I still sort after good setups. A few (really good) setups were spotted and missed largely due to having to attend to other matters. But hey, in Forex, opportunities come more than once – though that is when account is still intact; and since my account is intact, I am presented with a fine opportunity.

It is a Fibonacci retracement-expansion cluster in confluence with trend line cluster. The region covered by the green lines is the cluster when Fibonacci retracement tool was drawn from swing “1” to swing “2”, and Fibonacci expansion tool was drawn from swing “2” to “3” and then to “4”.
Share on Google Plus

About Moshow

Oseni Moshood ( Moshow) is a physicist, a blogger and a spot trader with years of experience. He trades only price actions partly because he thinks Economics is boring; or, probably because he failed Economics; and he loves fine artistic works.
    Blogger Comment
    Facebook Comment

0 comments:

Post a Comment