Eamon86

Eamon86 Updated 

short term longs entered into highlighted sell zone.

Eamon86

After coming off strong resistance and moving down to the 0.382 fib level of the previous climb I'm now looking for a move up to the 0.618 retracement of this possible reversal. We took a short position at 72.650 and have now closed 75% of our position and will re-enter if the market moves up to 72.400 and loses momentum into 21 day moving average and the 0.618...

Eamon86

RBA want's price lower to make non-mining exports more competitive, instead of cutting rates it seems the RBA is happy with current decline. If that's not enough commodity prices are falling and the AUD is facing stacked resistance northward. As we have rejected the serious resistance at 0.7200 a re-test of the bottom is likely before any real strength moves this pair.

Eamon86

I had to short the double top in anticipation of the pattern completion, I'm impatient as always! Best of luck!

Eamon86

The bat pattern may be dead so looking for a 0.618 retracement to short.

Eamon86

You have to have sympathy, we all have bills. Just switch it off lads

Eamon86

Lets go aussie lets go!!

Eamon86

Although the market is systematically designed to destroy every traders soul at one point or another when the technical analysis comes into line with the fundamentals it's still to tempting to resist! Good Luck!

Eamon86

Possible swing trade opportunity up through the 1.08 retracement of current market trend with stops at 1.05150. Looking to short on momentum loss past 1.09.