EverythingForex
Long

ANALYSIS: AUDUSD - MASSIVE MOVE UP COMING!

FX:AUDUSD   Australian Dollar/U.S. Dollar
3534 61 65
Now that is an eye-grabbing headline, isn't it? Made you look! But I'm not blowing smoke here though! Wasn't just a marketing gimmick. I believe IT'S FOR REAL! Looking at this pair from a fresh perspective, I can clearly see the POTENTIAL for MASSIVE UPTREND coming! When? Could start sooner than you think! Let's see how.

So unlike my usual style, I'm going to ask you to NOT pay attention to the MAIN chart above just yet. Go back to it after you have read this whole post. OK? I promise you that you'll understand my perspective better this way. So below, you will see my WEEKLY chart focused on the wave count. The recent lows I believe was just the end of a long and powerful wave (3). Yes, on a SUPER LONG TERM perspective, I have maintained all along that this pair still has a LONG way down to go. So if that was the end of wave (3), then what stands to follow is a wave (4).
snapshot

Below is the DAILY CHART . Remembering the wave count from above, on this chart, from the end of the wave (3), the next move which should be a corrective pattern could be starting out with a expanding triangle in the wave A of the ABC wave 4. Don't pay attention to the "Advanced Study Bat". We will need to see where the E point of that expanding triangle will end first before we can more reliably project a pattern.
snapshot

Ok, so now you look at the MAIN chart while I describe what's going on. The D leg of the larger expanding triangle also has it's own expanding triangle pattern that seems to have been completed. So now prices look to be poised to ascend in the E leg of that larger expanding triangle. Prices (as of the time of this post) has not broken above the upper TL of the D leg expanding triangle yet and I am thinking there will be another small rejection again sending prices back down for a bit low enough to form the right shoulder of a possible H&S pattern. After forming the right shoulder, prices will then take off!

Like this analysis? Want more like it? How about more analysis on more pairs and also alerts, and signals? If you are nodding your head yes, then go here for more info: www.efxselect.com. At the very least, you can join my FB             group at: www.facebookdotcom/efxselect where you can get more free analysis and tips and you can also get "MY TRADE PLAN" on this pair! Go join today!

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Rayge
a year ago
awesome!
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peterB
a year ago
Excellent plan I also notice on the 60min chart a flag developing which indicates a buy at least as long as its pole my only reservation is does the E leg always get longer than the D leg
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EverythingForex PRO peterB
a year ago
Expanding triangle. The E leg must be longer. In fact, I am expecting an overthrow on the E leg and breaking over the MAJOR SR Structure I have marked there. GL!
+1 Reply
venckusarunas
a year ago
Very good job done! I agree with your analysis. Wave count is nice and H&S pattern amazing :) I have read all the analysis and missing one small thing.
Just one little thing - it seems we are getting possibly zigzag correction (weekly) 'abc' (3:3:5) because the wave 'a' aready made (daily) 'ABC' moves and followed by 5 wave move down . I could be very wrong, but it seems the wave 'a' (weekly) is over at first 'abc' (daily) move, and the wave 'b' (weekly) is on the move already. I can be wrong if price pass 0.73 zone, if not we would see smaller wave up 0.72-0.73 and 'testing the bottom' into the wave 'b' (weekly) before rally into the wave 'c'?
Sorry for a messy chart :)
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EverythingForex PRO venckusarunas
a year ago
Sorry, venckusarunas. I didn't see any chart from you. Did you attach it? I'd like to see it to know what you are talking about. Thanks.
+1 Reply
venckusarunas EverythingForex
a year ago
I thought it was attached :) but someting went wrong. It should be here now :)

snapshot
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EverythingForex PRO venckusarunas
a year ago
Ok, now I see it. What you see could come true but first, if you don't mind let me point out a couple of things. If this correction is to be a ABC Zigzag, zigzags are 5-3-5. not 3-3-5. A 3-3-5 would be a flat but then wave B in a flat should be 100-138% of wave A. So I don't see a flat. Therefore, I'm not looking for a zigzag here but rather first a complex expanding triangle pattern as a wave A. Now, can the expanding triangle be the entire wave 4 correction? Sure, it can. But not likely because of the sheer size differential. I.E., the wave 3 down was HUGE! Ergo, the wave 4 correction that corrects the wave 3 needs to be larger than just the expanding triangle. But that is only my opinion and there is no "rule" that states this.
+3 Reply
azx91
a year ago
lol there is no way that is going to happen even Australian expert economist said its heading below 70 and rate hikes in december will make sure of that # fundamental beats technical analysis
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EverythingForex PRO azx91
a year ago
First, thanks for your comment. But it'd be nice if you could show a chart with you fundamental predictions on it. Oh, that's right you can't because FA can't show you PA. Only a general guess at best. And until it happens, that's all it is. a guess. Unless of course you are sitting on the RBA board and have inside information. Do you? Tell me. How many times in the past year did you "guess" that the Fed would raise rates? Tell me, back in Sep., 9-2 to be EXACT, did you predict a MAJOR change in trend coming? And advised a BUY? I did. I'll show you the chart from back then that's on here for everyone to see if you wish? Can you show me your chart if you did? Did you advise a BUY@.69170? I did. Again, I've got the post on here to show you. Did you advise a BUY back then? Did you issue another BUY @.69370? I did. Wanna see the post? Did you then issue another BUY@.69554? I did. I have the post as proof. Anyone who listened to me made out over +400 pips on that run up from 9-2 till 9-14. How's your readers make out? Got proof? Then on 9/18, I posted a SELL advice @.72750 predicting another turn in the market back down. Did you predict that? Well, guess what? It turned and went down almost on a dime! I and whoever listened to me made another nice gain on the drop from 9/18-9/22 when I closed out the trade. How'd you do? Did you predict that? Then the very next day on 9/23, I posted a post predicting an warning of another reversal back up! Did you? I held both those trades till 10-9 and closed them both for a tidy +1113 pips combined. Did you? Did anyone who followed you make that?

I could go on and on citing example after example all POSTED for all to see if they want as proof so I'm not just blowing some hot air like so many do here. You can go check it, too. So you'll excuse me if your comment irks me. Especially that it makes you sound so juvenile. Maybe that was not your intention but it certainly came off that way.

So let's leave it to the readers to decide that if by your comment, they should believe you or not. BTW, I don't care if it goes down or goes up. I'm gonna make money either way.
+8 Reply
Fxtoronto PRO EverythingForex
a year ago
Well said, technicals over .fundamentals every time. Looking forward to many more excellent posts from you :)
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peterchung16 Fxtoronto
a year ago
And it is usually this novice trader, put off/piss off the pro. To the point, the pro don't give a shit and walk out of the forum. To the pro, they ask themselves "wtf, I am doing on this forum and giving my advice for free. Since, I make so much money on my own. Why should I share my knowledge since they attack me for nothing?"

There are many trader, posting that the economic collapse. Deflation, inflation, superinflation, stagnation, who knows what,,The novice always care about the fundamental news. Dollar collapse, buy gold buy silver, Market is rigged, BRIC, and bunch of BS theories to support their direction.


The Pro only cares about the direction, and betting on the direction. It is not the trader job, to predict the economic collapse or interest rate. It is the trader job, to profit from the direction.

Yes. Interest rates comparatively to the pair will flow to the higher interest rate like USDCAD. But that is overall picture. Trader still need to find a good entry. Technical Analysis is all about safe entry, so the trader can get out by protective stop rather it is profitable or not. Fundamental Analysis is just overall picture with no details on trading execution.
+2 Reply
azx91 peterchung16
a year ago
lol novice trader im happy to personally send you my trading history which is currently sitting at 88% win rate. Dont get me wrong technical is an essential in trading but fundamental does give you an overall picture back to the rate hike situation look at the Dow jones /NYSE index they are dropping strong since yesterday based on the feds hint for a rate hike now honestly are you telling me you understand monetary policy inside out because if you did then maybe you will understand. Now how can you forecast aud/usd to go long in the next year to 0.80. Remember my comment so you can refer back to it in the coming weeks when i prove you all wrong
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EverythingForex PRO azx91
a year ago
Novice or pro. It does not matter to me. Your win rate does not impress me either. I don't know you and what you do does not concern me. I've been trading full time and doing it highly successfully without using FA. I'm not against FA as I do follow what happens in the news closely. Any trader would be foolish not to. The difference is that I don't use FA in determining my trades. The reverse is also true. Any FA trader would be foolish to ignore TA. I'm not trying to add any fuel to the fire about this age-old argument as to what is better. There's no winner there. And you aren't going to be the one to win that argument either. It's a waste of time and I won't engage in it.

Again, it does not matter to me if the market goes up or down. TA allows me to be prepared to make money either way unlike FA which only causes bias towards one direction like you have. I'm free flowing. "Be like water" as Bruce Lee says. You are welcome to come back here and say what you want. By that time, I would've already made money on this pair regardless of direction.

Why don't you go and POST something on your own to prove your worth instead of just commenting? Put your words out there for everyone to see and critic and to have it PERMANENTLY stated so can refer back to it? I do. I'm not afraid of being wrong, dude. Because when I'm wrong, it gets me that much closer to being right. There's no place in trading for ego like yours. Ego does not make money.
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azx91 EverythingForex
a year ago
we have 2 different points of view which is normal in trading as every trader has their own strategy for what works best so im not against you. i was just stating a point that based on fundamental and econometric analysis the bat pattern move to 0.80 is not possible for next year. But now i realise you trade over short periods of time where i leave trades open for weeks/months thats the difference between you and me e.g. i took a trade back in 2013 going long on gbp/aud and still have it open based on fundamentals. Reasons i do not follow / post my analysis is due to 95% of traders do not understand econometric and fundamentals indepth but hey my ego and confidence is making me a lot of money take care friend
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Barabaszek azx91
a year ago
Hi. Would You explain me how You opened long on gbp/aud in 2013?(forex mkt or another way?) Thank You.
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azx91 EverythingForex
a year ago
haha dont worry im not trying to sound offensive at the end of the day as long your making money thats what counts. im just saying being in the game for a while with a strong background on macro economics you can get far aswell. personally i have subscription to the bloomberg terminal which i use to justify my comments
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RussianAmbition azx91
a year ago
troll
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tommy40cohen
a year ago
Amazing analysis!
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EverythingForex PRO tommy40cohen
a year ago
thanks but let's leave out the amazing part until it happens! ;)
+1 Reply
creedog
a year ago
I have been following your work for some time now. I like your approach of Elliot wave and harmonics. Can you recommend any books or other sources on these subjects which would benefit a young trader?
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EverythingForex PRO creedog
a year ago
Hi, there is not any book or any other source that teaches what I do. It is proprietary. But there are plenty of sources that teach each individually. Just google harmonic patterns for sources. And google Elliott waves for sources on that. But as a "young trader", it is more important you concentrate on learning THOROUGHLY the basics of trading before you learn any strategy. You MUST HAVE a solid mental game and a sound money management strategy. Learn those first before anything else! Or of course...shameless plug here....you can sign up for my mentoring program. If you want more info on that, go to: www.efxselect.com. Or contact me. Thanks and GL.
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Barabaszek
a year ago
Thinking the same.
Potential upward movement
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LaiptaiCervinskas Barabaszek
a year ago
nonsense
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EverythingForex PRO LaiptaiCervinskas
a year ago
now this is a very, very constuctive comment! Wow! So helpful.
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Barabaszek LaiptaiCervinskas
a year ago
Second target almost done. Still nonsense?
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Barabaszek Barabaszek
a year ago
TP2 has been achieved.
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LaiptaiCervinskas Barabaszek
a year ago
https://www.youtube.com/watch?v=69aWcv2Y_Ww
This a an idea what is happening.
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EverythingForex PRO LaiptaiCervinskas
a year ago
POST you chart here so everyone can comment on how much nonsense your post is. Just cause it's on YouTube guess it makes you the authority on what will happen, right? Pray tell, what qualifies you to say so? Not that I care if it goes up or down as you seem to care so much. I make money either way.
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alex.a
a year ago
Technically I agree with you 100% but I am concerned about tomorrow US retail. >_<
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EverythingForex PRO alex.a
a year ago
I'm not. GL!
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alex.a EverythingForex
a year ago
at 0.7070, I'm in. ^_^
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My analysis is just about spot on with yours on this one. I got long at .70225, looking to add more on this retrace before the breakthrough of the trendline. Good luck! :)
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This analysis is not correct. See the video for the details.
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EverythingForex PRO LaiptaiCervinskas
a year ago
I suppose that you know something the rest of the world does not, right? Some "insider" information only you have access to?
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EverythingForex PRO LaiptaiCervinskas
a year ago
Is my analysis STILL not correct????
+2 Reply
Don_Corleone PRO EverythingForex
a year ago
Trolls lost the battle mate,but did not loose the war yet ROFL.Just need to keep grinding pips,while they keep hating;))))
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nnnn
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https://www.youtube.com/watch?v=69aWcv2Y_Ww
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https://www.youtube.com/watch?v=69aWcv2Y_Ww
I think this is the most real idea.
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EverythingForex PRO LaiptaiCervinskas
a year ago
Post something to prove you know what the heck you are talking about before you go and try to shoot someone else's idea down. Until then, you have no standing.
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peterchung16 EverythingForex
a year ago
Please ignore him. His chart ignores the tail and draws the lines to the body. I have a LOL. In fact, tails of the candle is charting 101. It gives the trading range of the overall pictures. It measures the breakout of the rally. It shows the breakout success or failure.
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peterchung16 peterchung16
a year ago
It draws the lines to the body, as if the tails or the range of the individual bar doesn't matter. Does it tell you something?
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EverythingForex PRO peterchung16
a year ago
Sorry for my reaction. I just can't stand trolls who just comment stupid crap like "nonsense" as if they know better than anyone else. And on top of that, this person has not even contributed ONE THING to this community! If he had something constructive to say other than send everyone to youtube just to promote his video (and whatever he is trying to sell), then I might tolerate his comment. But it's trolls like him that ruin good communities like this one. Yes, I am also promoting my own service but the difference is that I actually CONTRIBUTE constructively and consistently to this community other than just using it to redirect traffic. And that is what his purpose is for posting. Not to try to help anyone.
+3 Reply
peterchung16 EverythingForex
a year ago
Well, EF, it is usually these fake guru, fake trader, fake educator, trolling these forum. So, the sheep will follow them, like a brainwashed idiot. But a pro can smell these losers miles away.

In a previous post, you have trolls, claiming 88% win rate. I am like WTF! it implies that the hedge fund will lose money 88% of the time, and hand him the money 88% of the time. Nobody will like to lose money 88% of the time. He makes himself look like an idiot,claiming on Fundamental analysis alone (Buying and selling forex). The pro knows that Forex market is a huge market, measured by demand and supply metric. That means someone is better than good. Someone has to be excellent to get 60% probability. But the Bear has 40% probability to shoot at the trader at the face.

The pros only can get 60% of the win rate. That is the league of George Soros. Even someone is not excellent as George Soros. 40% probability is also a profitable. They can covered by 2x reward and strict risk & money management ratio.

Technique was just the measurement of safe entry point. It is always been money management and risk management.
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EverythingForex PRO peterchung16
a year ago
Thanks, Peter for the support. I shouldn't react to them trolls.
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azx91 peterchung16
a year ago
looool yes i have an 88% win rate which i am personally happy to send you my report of trades. Peter go read a macro economics text book then come back here and comment i have a masters in economics and pity traders like yourself you are so blind and practically are the real sheep searching for answers. I work in a professional research team and conduct econometric technical analysis using structured equations that you are unaware of. i also have a subscription to the bloomberg terminal which costs 2k a month for data.

For anyone going long answer me this how do you expect a currency to appreciate subjected to lack of volume from buyers volume.
1. Inflation is not meeting target by the RBA despite several rate cuts, last cpi was below expectations
2. Australian housing bubble is over HPI already starting to depriciate
3. Australian main exporter china is showing a strong trade surplus resulting in Australia export to china reduced over 30% last few years which accounts for 6% of their GDP
4. Fed is going to increase interest rates to 90% probability this December/ look at the nyse and dow why do you think they are having a sharp fall right now
5. Australia main minerals that are used for export and account for the trade balance e.g. copper, gold, coal, iron ore are hitting lows due to commodity prices and lack of demand based on international competition.
(THE RBA WANTS TO KEEP THE RATE BELOW 0.75 FOR FOREIGN INVESTMENT!!!!!!!!) READ THE BLOODY REPORT
I can sit here and go on and on why there is a lack of ability for demand to move up but then again im not going to waste my time. you have a lot to learn you are unaware how hedge fund works aswell this is not a binary option wonderland you are living in
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EverythingForex PRO azx91
a year ago
Wow! You must be RICH! Making more money than Warren Buffett with your masters degree! Wonder why you are bothering to stoop so low and come down here with us sheep? Don't you have better things to do like driving you Ferrari off a cliff near your beach house in Monte Carlo? Silly for anyone to BLINDLY believe you! Wasn't there a time when the "know-it-alls" thought the word was flat? Personally, I don't have a clue why you bother trolling here.What? you NEED validation from us sheep? Go talk to your million dollar buddies to get your validation. You are posting in the wrong place to get your validation. So what if you are right? People like this are just so ignorant. For your information, kid. I am predicting AUD will eventually get to 60-62 cents and I have been saying that for MONTHS now. But it isn't getting there in a straight line as you seem to think so. I've been trading for probably longer than you even knew what a chart was and been doing it highly successfully. So, pray tell, why would I suddenly listen to a blowhard?

Again, go post your own post and stop trolling where you aren't gonna land any fish to feed your over-inflated ego.
+2 Reply
aledelpi EverythingForex
a year ago
please...dont lose time with this guy. no answer is better. no one here wants to read his comments we are here to learn and talk about your comments. :)
your time is price less to answer to this kind of useless comments :)
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azx91 EverythingForex
a year ago
na i wana debate with technical traders like yourself how much did you pay for your bugatti veyron im not trolling im debating. you just posted a bat pattern saying to go long make to the forth wave into the 0.80 levels my first comment refers back to constrictions but then again im not telling anyone to listen i started of with a joking debate but your sarcasm illustrated the peak of you ego.
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TTCSteve azx91
a year ago
my goodness...anyone would think this was your thread.

If that's your grasp of economics from your masters then best of luck to you....you don't even understand how assets and currencies function.
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msalotto PRO azx91
a year ago
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azx91


the above 0 0 0 0 0 is ur profile axx91 .. so its best to keep ur mouth shut and not criticize when other traders publish their views.. either you like the view or you dont, thats up to you , but there is no point trolling and wasting others time.
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msalotto PRO msalotto
a year ago
You can use ur time to analyze the market and publish an idea which can benefit other traders and not waste time criticizing on other traders ideas.
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olivier2015 msalotto
a year ago
Agreed!
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marcus123 EverythingForex
a year ago
agreed!
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To all, I will stop replying to this troll as I don't have time for his non-sense. Please stop responding to him. It is not necessary as he is just a troll. Haters will always hate those that do better than they just to boost their own lack of self-worth. I don't need nor have any need to get into any "cock measuring" contest with anyone. So let's just let him have the last word and be done with him.
+5 Reply
azx91 EverythingForex
a year ago
alright i apologize everyone im going to leave all chats good luck
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snapshot
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peterchung16
a year ago
EF, I got stop out. Judging from the dollar index. It is going to head to 100.295, the top of the DXY trading range. Then it should retrace all the USD pairs.

I would think the AUDUSD will go to test the bottom of the low of the trading range, creating a double Bottom, before it breaks the upper triangle
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EverythingForex PRO peterchung16
a year ago
Got stopped out? Were you LONG on this already? Too soon!
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peterchung16 EverythingForex
a year ago
Yep. My bad. I jumped in it before it breaks the upper triangle. I thought it is not a major resistance, because it was three push up. The fourth push should be exhaustive. It turns out that it is still respecting the mini bearish channel.

I was wrong and not discipline. But the position size covers me. So, I was saved.
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EverythingForex PRO peterchung16
a year ago
No worries. You'll get it back on the up move.
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