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Update -The Long, Bigger Picture | #AUDUSD #AUD #USD #Forex

FX:AUDUSD   Australian Dollar/U.S. Dollar
207 1 1
Friends,

All this time, we reviewed a concept of channel interplay, and were able to share a bit of our mindset regarding trend determination ( bearish vs. bullish momental channel), strength of trend (upper vs. lower tier of momental channel), and forecasting potential reversal areas (seeking intersection of channels at major channel top/bottom crossings).

Now, let's take a few steps back and appreciate the grand elan ... What we are seeing here is a retesting of a once-resistance, now-support trendline , and we expect that this will continue to hold for the time being. Although there is a possibility for the trendline to cede, the outlook is in fact quite bullish if only fundamentals were considered.

Highlighted in the chart are current dynamic resistance from the trendline , as well as static overhead resistance at 0.88952 to name a first consideration.

In the case of a BEARISH downturn, 0.8800 offers a viable target down below, and this is what we are anticipating prior to a major rallying. In our most optimistic stance, we like to think that a market that prepares to rally significantly will provide a faked out advance, then recede to clean out and load up in proximal stop-losses from more junior traders and less tolerant traders, and then rally at a sustained pace to about 0.9300. This is all speculative, but it only serves to reveal our mindset, as well as our overall bullish stance.

We hope that you have appreciated this "frame-by-frame" explication of "how we would handle it", by the mere use of hidden geometries, Fib-paced price anticipation, and common sense.

If you have enjoyed this piece and would like to explore more themes, feel free to turn to any MODs here. We are all individually flavored, but each have a set of skills and perspective that might not hurt to listen to, tap into and mesh within your own mental construct of what it is you believe you perceive from the market.

The whole game here is NOT to be right, or one-up the market, or even prove anyone wrong, but to remain with the market. The lines are footprints, and the angles determine the "speed of change", or rate over time. This simple discovery should already set you apart from whom you were this morning, if you believe it can change the way you perceive the market.

Cheers,

David Alcindor, MOD
so far so good..
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