BULL CROWN TO PUSH AUD USD HIGHER THIS WEEK!



In just a few days, we are likely to see this pair rally to complete the formation of a Range Setup on the Daily Chart, with the popular Bull Crown Consolidation Pattern.


As you can see from the chart below, the pair has been moving sideways over the last few weeks.







Based on these patterns, it looks very likely that a Range Setup is gradually taking shape...








What will be needed for the pair to complete the setup is for a rally that takes back to Resistance within the next several days. Based on the patterns formed recently, it appears that the Signal to get things going would be a Bull Crown Pattern, also known as an Inverted Head & Shoulders Pattern.









The Chart below shows that what is needed is a Bull Candle that would complete the Right Tip and complement the Left and Centre Tips already formed.







Once this is done, we would then have to assess the Bull Candle itself and the patterns on the 4 Hour Chart to determine if they meet the criteria for the Trading Strategy. Assuming they will, our target will be to capture approximately 140 Pips between where the Candle would be formed and the area just below the Resistance.






This would take approximately 5 Days and with a Risk Per Capital of 5%, could yield between 8% and 10% and bring us close to the half point towards the 24% Monthly Target...





So look out for this signal in the next few days and ensure you are one of the lucky traders to receive my Entry Signals to take advantage of this setup.


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(Estimated 14% Per Month. Assumes the Trader applies an Average Risk Per Trade of 2% to my Trading Signals)

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Your Mentor



Duane Shepherd
(M.Sc. Economics, B.Sc. Management and Economics)
Currency Analyst/Trader
shepherdduane@gmail.com /(876)-3825648
Twitter: @WorldWide876
Facebook: DRFXTRADING

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Comments

  1. Extreme liquidity and the availability of high leverage have helped to spur the market's rapid growth and made it the ideal place for many traders. Positions can be opened and closed within minutes or can be held for months. Currency prices are based on objective considerations of supply and demand and cannot be manipulated easily because the size of the market does not allow even the largest players, such as central banks, to move prices at will. Tom from Leaprate

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