When price changes we need to change with it and tune ourselves in to what are they doing?
In this case, buyers are making HH/HL's. In my previous post i was anticipating an expansion of price into the major.
Order moved into the swap of the minor pivot
For a while recently the Aussie dollar has been tracking the US dollar price of oil. While the correlation is by no means permanent, we've seen both receding recently. AUD/USD's DI- has been approaching a convergence with DI+, and traders may wish to short this pair when the negative indicator crosses higher.
In this publication I show a drawn up trade that is currently open on my account.
I use the principles of price action, where price is in extremes through expansion and contraction.
NO squiggyly lines just pure price action is quite simple and beautiful. To me it is an art form being in touch with the charts ebbs and flows.
Before every trade I practice a...
After breaking a descending triangle retesting it we saw a move to the upside which made us find a good enough zone to trade short on small time frames. Now makes sense a little retracement before continuing its move.
Australian dollar /United stase dollar future contract is trading in a Big Rising Wedge, I thinkit will be broken and price might fall.
We can clearly see a divergence between ON BALANCE VOLUME and PRICE.
Fundamentally AUD is going upthese days due to Optimism about a Covid-vaccine and a V -shape recovery in international indices. However there are still high...
This is futures, not spot pricing. Please see the other chart (link below) for the larger view.
So far this has worked perfectly.
Still want to see .78 before the large short, but we may fail short of it.