AU hit the powerful 9.618 and bounced with great vigor. The Impulse (initial Force) was applied in December 2018. Its Ripples (waves) have been relevant for over a year now.
The 9.618 is very often the violent Murderer of Moves. IF this asset has a bottom, THAT was the perfect level. If NOT the bottom, likely that another Ripple WILL be.
"Impulse" is a surge that creates "Ripples", like a pebble into water. Ripples emanate outward until energy dissipates or a new Impulse acts. As the distance from the impulse increases, the odds of ending increase.
9.618 is in reality the 8th harmonic away from the impulse. 8 is a "fib number" and thus the relevance of 9.618 extension. IF this wave is ending, THIS is the perfect place for it to do so.
Part of my ongoing series to collect examples of my Methodology: (click links below) Chapter 1: Chapter 2: Chapter 3: <= Current Example Chapter 4: Chapter 5: Chapter 6:
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Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water. every Pebble bears its own Ripples, gilded of Ratio Golden. every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity . each line Tried and Tested. each line Poised to Reflect.
every Asset Class behaves this way. every Time Frame displays its ripples. every Brain Chord rings these rhythms.
He who Understands will be Humble. He who Grasps will observe the Order. He who Ignores will behold only Chaos.
Ordered Chaos
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Could I get your take on the current situation of the Aussie Dollar? Seems to have crashed back thru the 9.618 fib and then back above it again. Would love to hear your thoughts.
EuroMotif
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@Radbikerboy, Hello and thanks for your kind feedback.
As for the AUD, i really dont have a clue as to near term bias.
It seems to driven almost exclusively by China news.
But if a gun-to-the-head call must be made, I would go long AUD.
RBI cut rates a little, FED cut a lot more, and are expected cut again at their March meeting.
So AUD should remain a higher interest paying currency for some time.
But when that force will kick in is hard to say.
And had it NOT broken the 9.618 it would be a much easier decision
( a retrace to 9.236 and resume up would have been ideal, but that pierced 9.618 has cleared support down there).
FT_Lexicon
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I also wonder this currencies price action. But, today's 4hr candle makes some correction. So, i'll keep on watch over that.
Could I get your take on the current situation of the Aussie Dollar? Seems to have crashed back thru the 9.618 fib and then back above it again. Would love to hear your thoughts.