This is an update to the expected Aussie dollar reversal which I have been monitoring for some time now.
The level price is at, is a very significant one, which I don't think will be easy to break.
I posted a short term long setup in one of my charts, but I didn't publish a long setup chart after the ones I had before failed.
This time, I suggest waiting for the date signaled by the vertical line in the chart, which is the time when a long term downtrend signal expires, as per Tim West's methodology.
One thing I'd suggest is not shorting the Aussie dollar vs the greenback for the time being, considering the support below, and the proximity to the expiry date.
I'll update the chart once I find a valid long setup with clearly defined risk and reward.
Cheers,
Ivan.
The level price is at, is a very significant one, which I don't think will be easy to break.
I posted a short term long setup in one of my charts, but I didn't publish a long setup chart after the ones I had before failed.
This time, I suggest waiting for the date signaled by the vertical line in the chart, which is the time when a long term downtrend signal expires, as per Tim West's methodology.
One thing I'd suggest is not shorting the Aussie dollar vs the greenback for the time being, considering the support below, and the proximity to the expiry date.
I'll update the chart once I find a valid long setup with clearly defined risk and reward.
Cheers,
Ivan.
Trade closed: stop reached
