Ichimoku_Trader
Short

May's pullback .. or is it a pullback???

FX:AUDUSD   Australian Dollar/U.S. Dollar
326 6 25
Chart psychology:

Notice how "TS" turned down. A sign that people on lower timeframes are already shorting and that momentum has already started building. If we break the lows, more people will join in and more momentum will build.

Also, notice how price is currently trading below the KS. That is very uncomfortable for the people on this TF especially that divergence is now showing on the oscillator. Once we break the dynamic critical level "CL" and the KS turns down, and they feel the pressure of losing money or losing part of their profits, they might start looking for a way out on a pullback of the last down move or they might even join in the down move. That is what will probably drive us even further down into the kumo or even below

People on the higher timeframe see this as a pullback but the more time that this move takes the more edgy they will become. It already started when SSB             went flat.

Very interesting chart
Good luck
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Related Ideas

Vytasbcn
7 months ago
Brilliant comment and very educating. Thank you!
+1 Reply
Ichimoku_Trader Vytasbcn
7 months ago
Thank you

Once we can tap into people's thoughts and ideas, we can surely be ahead of the market. Thoughts are what drive actions.

Good luck
+1 Reply
tokyotiger
7 months ago
There is an easier way. On Tuesday, if the RBA cuts, you'll see a rapid decline down to your red line or lower.
Reply
Ichimoku_Trader tokyotiger
7 months ago
genius

thanks
Reply
thewealthlifters
7 months ago
Nice technical analysis and trade plan whatsoever, u r good....
Reply
Ichimoku_Trader thewealthlifters
7 months ago
thank you

i appreciate you feedback
Reply
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