Piphunters
Short

Final move down to DZ? Before weekly correction?

FX:AUDUSD   Australian Dollar/U.S. Dollar
Major divergence going on MACD this is an indication that we have a dead trend. As I see it the DZ @0.7465 is the start of the new trend. This new trend seems to be a corrective wave on weekly chart.

Strategy on this trade:

Aggressive:
Place one BUY and on SELL order at reversal going on right now (check H1 for reversal pattern). Sell the long position at new reversal(~0.7693) Keep the short position run until target @ 0.7450

Moderate:
Go short after reversal @ ~0.7693 set target for 0.7450

ModerateLow:
Go short after reversal @ ~0.7693. sell 2/3 of postion on 0.7650, set target for 0.7450 for remaining 1/3.
Piphunters
2 years ago
Just need to point out that DZ at 0.71 och DZ at 0.64 could also act as base for new trend, where 0.64 is the major DZ for the last move up.
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