In the past week I published two analyzes, so let’s see how the market verified them, whether we were able to predict the future of the two currency pairs AUDUSD and USDCHF.
AUDUSD
Monday, 29.10 – AUDUSD – 3 in 1 – the confluence of bullish signs
Analyzing this pair on Monday, I predicted increases based on three factors:”Looking at the H4 chart, we can determine at the level of 0.7055 strong local support (green zone).
It seems that increases are very likely, which results from the confluence of events:
– Outside Bar is created by a bullish candle
– the OBar candle is at the same time a Pin Bar
– there is a divergence (+) on D1
I would look for an opportunity to open a buy order as close as possible to the green support zone if the price reaches it”.
Nothing more, nothing less – confluence showed power. The price after reaching the “green zone” rebounded, and the increases reached the level of the second supply zone 0.7260 significantly exceeding expectations. Unfortunately, it happened mainly on November 1 and I spent most of my time away from home – that’s why I managed to book just 60p from possible 200p. Correct analysis, satisfactory performance.
USDCHF
Thursday, 01/11/18 USDCHF – reflection from the supply zone
In this analysis, written in the morning, the condition for the pair to decline was to maintain the emerging maximum in the MACD histogram until the session was closed. I also predicted the range of falls and as potential TP and the level where the price may turn back I pointed out: “The target for possible decreases may be the 0.9975-60 demand zone, which will soon coincide with the dynamic support created by the support of the growth channel in which recently the pair is moving (blue dotted line). It is possible that there will be a confluence of supports and there will be a demand response in this place.”
And so exactly the market has behaved, which can be seen in the graphs comparing the state described in the analysis and the current one. The analysis was accurate and despite the fact that only one day has passed, I managed to use declines and earned 40p. It seems that the falls will be continued next week.
Summing up the last week, I collected 103p on the basis of the above analysis:
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