IvanLabrie
Long

AUDUSD: Key Hidden Levels and Linear regression analysis

FX:AUDUSD   Australian Dollar/U.S. Dollar
2 months ago
AUDUSD             found support at the upper deviation of the recent downtrend's linear regression channel today. This level coincides with the mid point of the recent VIX             75% retracement, or 'smart money buying spree' key level, which happens after VIX             spikes by 5 points or more, and the smart money 'buys the dip' in risk assets, making VIX             retrace 75% of its recent climb, reducing option volatility, calming the market and putting a floor below the recent sell off lows. This range, gives 3 levels to monitor on retest, and that's what we have here. Let's see if bulls step in and drive price above resistance, else, the downtrend in AUDUSD             will resume.

We can enter longs here, or on a new daily high to be more conservative, risking a new daily low. Keep risk at 1% or less.

Good luck,

Ivan Labrie.
2 months ago
Comment: Nice move already.
2 months ago
Comment: Testing the top of the 'Smart money buying spree' range. Once above AUDUSD can soar with ease.
2 months ago
Comment: ...now 'soaring with ease'.
2 months ago
Comment: $AUDUSD commercial futures traders order flow chart
snapshot
2 months ago
Comment:
snapshot


Resistance at the Jackson Hole daily high, we can book 75% and keep stops at 0.76253.
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