The Forex market never ceases to amaze me. Price floats like a butterfly but stings like a bee if one doesn't apply an edge with a solid risk management method.
The chart speaks for itself...
I am short bias, although a break and test to the upside of 1.1000 will present a long opportunity. You have to be quick like the jaguar in order to reap the rewards of...
There's a chance of a Bullish Bat forming on the Aussie. B is exactly at the 38.2% retracement of XA, BUT there is also the possibility of a Wave 4 forming around this level, so watch for a break of the B point, which would signal a greater decline.
