FX:AUDUSD   Australian Dollar/U.S. Dollar
226 10 0
Just 1:1 but I expect the September highs to be reached again.
seems about right.
snapshot
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ForceFollower metalhe4der
3 years ago
Yes, double tops are possible, esp. given the amount of effort put in the current up move (some kind of ending diagonal).
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Nickmail ForceFollower
3 years ago
stoploss is big
Aussie recovery scenario
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ForceFollower Nickmail
3 years ago
Yes. But I like big stops - just adjust the size down correspondingly. Larger stops don't mean larger risk; on the contrary - they're safer: you get fewer losses, so your success rate goes up.
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cryptoyoda ForceFollower
3 years ago
The recovery from the lower MLH seems to have run it's ABCD course - another chance for a long entry coming up (@ green arrow)?
snapshot

But what about the three lower highs?
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ForceFollower cryptoyoda
3 years ago
Yes, possibly; at one of your sliding parallels. I have just added even higher. AUD and NZD are the strongest currencies according to my model, so I'm all bulls in this market and the lower highs don't bother me much. We've just had a correction here, and almost every correction makes lower highs - they're to be taken out - that's what the impulse moves are for.
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cryptoyoda ForceFollower
3 years ago
Hehe, you got the handsome avatar ;) I'm wondering how to interpret the flush and grinding... confirms support => bounce still likely?
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ForceFollower cryptoyoda
3 years ago
Thank you, yes, I decided to refresh my image. :-) As for the grinding, I have seen such price action in Aussie markets fooling you into going short. I agree: it looks like an imminent collapse, heavy as a stormy cloud. And sure enough it can resolve either way. But personally I'm not giving up on this one, not before it hits 0.95150.
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cryptoyoda ForceFollower
3 years ago
Hope it works out :)
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ForceFollower
3 years ago
There's no gravity in FX markets. Heavy things, like baloons, can go up. :-)
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