AUDUSD H4, Key Rising Trendline Overlaps Bottom of Channel

The price has fallen to the bottom of its falling trend channel, which overlapped with a key rising trendline, signaling for a probable rebound.


AUDUSD H1, Crab Final Leg Formed at FR127.2%

The price has rebounded but failed to gain further from the bottom of the falling trend channel.

The retracement from the rebound extended beyond its swing low and formed a crab pattern that suggested for a more significant rebound.

AUDUSD M15, Fibonacci Retracement for Take Profit

Based on Fibonacci Retracement and accordingly to the theory of the crab pattern, the key take profit levels are FR61.8% and FR127.2%.