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Intraday commentary on patterns

AUDUSD Bearish Harami 4-Hour Chart

Wed, Aug 1 2012, 14:06 GMT
by Mark De La Paz | FX Instructor

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Resistance: 1.0522 moderate/1.0555 minor/1.0572 minor

Support: 1.0505 strong/1.0472 moderate/1.0455 minor

AUDUSD is generally bullish with the Bearish Harami occurring near a strong support level at 1.0505, the Pivot Point. As such it would be best to consider shorting only if we have a close below 1.0505 with a stop loss above the candlestick patterns high. Price target for any subsequent sell-off will be at 1.0472, possibly on to 1.0455 if the former gives way.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices

Published On Wed, Aug 1 2012, 14:07 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

AUDUSD Bearish Harami 4-Hour Chart

Daily Live Trading Room

Mark De La Paz

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Legal disclaimer and risk disclosure

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