FX:AUDUSD   Australian Dollar/U.S. Dollar
162 2 0
Contrarian trade idea... AU             is still not exhibiting impulsive price action in my opinion, so I think this correction still needs one more move down before it goes up... I am assuming this is still wave 4 within either a much larger move up or a wave C correction... who knows, but what i do see with more confidence is that there technically should be one more move down before more up IF I am right and this recent little up move is corrective PA.

Note also the 4hr stochastics is overbought and turning over - warning... although, a bull run can mean overbought for ages, I am questioning this little bull here...

I'm flat this pair because I'm still confused, but if I was already long (bravo if you are) then I would defo move my stop up! Shorts... may be able to get a short term pounce on this move down if it happens... alternatively stay out and get long somewhere between 0.928-0.93 ish             depending on PA.
richeyeo
3 years ago
There is a Perfect Bearish Gartley Pattern on AU, entry at 0.9470
Reply
Monk richeyeo
3 years ago
Cheers bro - got a chart I can look at? :)
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