dojitrader
Long

What's the Aussie Up Too . . .

FX:AUDUSD   Australian Dollar/U.S. Dollar
196 0 0
With the failure of this trade:https://.tradingview.com/v/DGYNXLiu/
Not even enough strength to test broken support @.9200/50 ----
Went looking for something that makes sense. Perhaps this is it.
On a larger degree we have the confluence of an A = C at a 1.618
extension and just above several support points that go as far back as July of 2007
If this support gives way that opens the door to points as low as 8200/.8000 ---
.7700 maybe even .7000. So, if it's gonna make a stand this is the place.
I've set the buy closer to .8905 as I'm thinking it will be pulled as close
as possible before an abrupt reversal and this improves the size of the risk as well.
(there is almost a qualified bat pattern who's .886 extension is also in the buy area from
an x point on Sep 1st. But, I'm such a stickler for exact rules of advanced patterns,
it is not included)
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