Clearly the strongest trend in fx majors now. The AUD is getting overbought, so another leg down is likely to develop. Is the 0.8 level going to be hit? Well, I don't know, but 0.805 is possible, if bearish momentum grows. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Possibly about to double the blue channel and test the lows...
ForceFollower
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Looking for new shorting opportunities to develop.
Sam0101
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cool force. You are back !
Sam0101
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Hi force, hows it is going? Having holidays? From what i see, is the pair still bearish?
ForceFollower
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Yes. I keep trading it with short positions. AUDUSD is still in the strongest trend of all the majors. AUDNZD is the second best, with the volatility still expanding.
Sam0101
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i been losing a lot during this Christmas
Sam0101
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Short to 0.802
ForceFollower
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Sorry to hear that. Why did you lose? Did you go against the trend?
Sam0101
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yeah the erratic trend and fluctuation. Sad. Do you have any pairs to short ?
ForceFollower
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That's why I trend in one direction only - always with the trend.
There are no better pairs to go short currently, according to my trading model, than AUDUSD and AUDNZD.