Andy_Garcia_CMT_CFTe
Long

AUDUSD LT Trend Line and Fib Levels

FX:AUDUSD   Australian Dollar / U.S. Dollar
293 0 6
THE BIG PICTURE: This chart has to be switched to the Log basis on the Monthly timeframe . The previous moves are measured and extended from the most recent peak to determine a measured move projection based on the two previous down swings. So the fib extension tool was used to measure segment AB and extended form E at the same time the move from C to D was measured and extended from E. This provided for a confluence of the amount of retracement we can expect. Additionally when you connect the lows established at B and D and extended to provide even more confluence at point F.
THE TECHNICAL STANDPOINT: Price has traded into a buy zone that should provide for some major accumulation. Provided that the cycles remain in tact then the low established around point F will develop buy signals on the lower time frames. This is moving in line with the DXY             short idea.
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