This is what it's like to have PATIENCE! 11 days ago, I posted about this bullish crab along with the AB=CD completion on the DAILY TF that led me to post this trade. it took 11 days of waiting and waiting and waiting but finally got rewarded! Bagged +194 pips on this one.
Again, I post this not just for my own posting/trading record but to teach a lesson on PATIENCE! Not every trade is bang-bang profits. Some are like watching grass grow.
Anyway, if you have this trade, take the profits. Remember, this pair is STILL in a VERY STRONG down trend and I am STILL VERY BEARISH on it. See my long term analysis I did on this pair a while back (see Related Ideas: "AUDUSD: Analysis, Bearish Crab & Why You Should be Looking DOWN" posted 26 days ago). I see some people here are saying this might be the long- awaited long-term reversal but I am NOT one of them! I'll post an updated analysis on this pair soon. Look for it!
Comments
Prometheus
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Very nice, great work. Do you think/predict it will remain bearish for the next week or 2? Considering there is/was so much RSI convergence on the Daily/Weekly/Monthly charts or do you believe this was the bullish move it required before continuing on its bearish run (I'm thinking it could still potentially rise to 75.00 before a fall but ultimately think it will drop to 70 and if it breaks that it will go to 60 over the next 3-12 months). Congrats again, fantastic move, good luck ;)