About meI am self-taught, I opened my account 4years ago but started trading seriously about a year ago. The ideas that I share are not instructions for you to BUY or SELL the market, I share them because I want your opinions and ideas as well.
Pending Home Sales (MoM) (Dec, and Pending Home Sales (MoM) (Dec) will determine the if "C" is really our Turning point. Will it break high, due to the news?
Pending Home Sales (MoM) (Dec, and Pending Home Sales (MoM) (Dec) will determine the if "C" is really our Turning point. if not then price might push a bit lower.
This is what we wish to see for this trade in order for us to decide what we want to do. 83.00 -82.950 is the price we looking for. We wait as the set up plays out.
Waiting for this pair to retest the 0.64284 price action, and watch price action at this level to confirm the downward move. This similar situation we have seen before but remember "NEVER TRUST THE MARKERT."
We were looking at point "C" to enter our trade and the target is hit. BUT, AUD was very Bullish. Should we make a trade or wait to see it losing strength? What's your oppinion?
If this "C" point is invalid, we then might have to look at a Higher point. 77%, 88% will be hard to reach but it will be a perfect move if the bulls would push upper. Can this "C" point act in our favour?
As much as we were looking for retracement before the bug move, we only recieved the big move...Hiting our 4h time frame "C" Point. now we in a price squeeze of this pair. Beakout will determine the direction of our move, rememberig we at a "C" point.