I feel the Aussie is stalling a bit and needs more energy to continue it's up trend, and seeing there is no major fundamentals until Wednesday.
I'm going short at 0.9355 until the green area and then will take profit and go long.
Let's see how this plays out.
Comments
wuweitrader
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Here are some other longer term forks that still seem to catch frequency. The Blue one especially still seems to be working well, though the two longer one are both up trending.
ForceFollower
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Very nice forks. The green one is a typical stair-stepper - it's the one that says "This thing is going down". The blue one was so steep that it served as the spring being compressed, which then pushed back and spawned the recent rally; but now I think it has already done its thing and it probably won't be of much service any longer (is going to become more and more obsolete). And yet the AUD still remains strong, so it may find support on the green upper MLH and go up again. We'll see.
wuweitrader
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I left the Blue fork on since its sliding parallels are still working. It helps point out a bit of hidden frequency that might still be at play.
FaultyKid
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I'm still new to this but from what I been watching, where the green fork & red forks intersect wouldn't that be considered an energy point as they are opposing forks & attract price?
ForceFollower
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I don't watch those 'energy points'. I haven't found them to be consistently significant. There are other things more worthy of your attention.
ForceFollower
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Sure, a good decision.
itaskar
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stoped out, daily close below the red line, watching break retest for possible short, HaS target is somewhere on the green line
itaskar
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on daily looks like the red line break is confimed, in this case, long from 0.9355/60