HOLY AUSSIE. But check out this chart. cc: @pipczar

FX:AUDUSD   Australian Dollar / U.S. Dollar
334 12 1
Aussie falling like a rock for what seems like forever. BUTTTTT.... 61% fib and monthly trend line coming up?? hmm might be time to go long soon. RSI & stochastics are also very oversold. .7185 seems to be the spot.
Nice NECKLINE Bukleforex )
Yes well you might be right about the retracement level, from your chart I can see it's about to test it. My levels are set at higher showing that the 61.8 Fib has been broken already. cheers
spiguru4u spiguru4u
wwfm spiguru4u
Lol , you can't ignore those breaks on monthly chart
That's true, a break of the fib and the support at this level might set the market moving sideways for several months before the next move either up or down. I'm no expert on long term predictions :-)
buckleforex spiguru4u
In my opinion that trendline is incorrect, you've drawn it above a bunch of the lows
wwfm buckleforex
Completely agree :) on such a long term chart as 1m all these breakouts must be included
Well I understand what you mean but those breakouts are in shorter TFs and only of a real consequence if you don't have deep enough pockets to cover your long term view.

If you draw a trend line on a weekly chart and then go to a lower TF you will often find trade setups which you can participate in trading or ignore in preference to the longer term trade.
I drew similar support lines and my opinion is that the support has already been broken ......Depending on where you draw the support lines has a lot to do with your impression of what might happen next
buckleforex spiguru4u
Perhaps but there is no denying the fib retracement levels.
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