I DEFINITELY want to short this pair, but when?! After a little correction, or will we see a bigger C wave to 1.46?! It is possible because it is unlikely. Just to mess with people's heads after they all think they can now short :p The last C wave technically could have already happened, that is why im not sure. However, the fact that AU
has a half decent chance of retracing (see my other AUDUSD
chart) and given the pairs are negatively correlated to a high degree, we could see a move up here still.
IF it does get to around 1.46, you can be damn sure I'll be piling in short once PA gives a signal!! If it continues down i'll have to somehow get in as this move should go to at least 1.42 ish
I wish I had stayed in my short at 1.48 but I took profits... ahhhh hindsight...