Hello, If you take a look at the pair, it moving nicely within the pattern. More likely it's going to hit the bottom before moving upward. So as far as it remain below the inside trendline it will have positive chances of hitting bottom and then it will climb up! If it breaks the trendline before hitting the bottom then we may likely to see a retracement move but just for a shorter period.
Trade according to your own strategy! Goodluck
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A nice fall started again after a lower correction!
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ashddylan
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Take a look at my chart, if price doesn't fall to support, i think this is how it's going to move
WaveExpert
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No that will not be correct trendline. If you use the lowest low as the starting point of the bottom trendline then you will get the better picture with the same scenario! @ashddylan,
ashddylan
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@WaveExpert, I can vaguely remember that year some news coming out causing the AUD to drop in value and quickly recovering again so i marked that point as an "outlier" if you will. I understand what you mean and I'm going to take your advice, thanks for the help :)