I cloned the whole entire UJ weekly range from last years top to this years bottom in to 1/4 levels then i proceeded to break each 1/4 level down into another 1/4 level. This is the daily view of those levels and I feel its quite interesting and amazing when you look at how price has reacted to each of the levels. Most of these levels of support and rejection...
I was going to post this earlier today, but I was to busy scalping :)
Nice clone support in the .7080 zone and I think we should be good to continue the trend upwards
A break below .7034 and this idea is void
A clean break on .75683 we should beable to get to .75914 and a break above .7614 we can get .7636
A clean break below on .7524 and i think we should see .7490-.7509
Keep in mind the daily 200ma is sitting at .7508 and also the H4 1200ema (both at .7508) and the last time AU managed to hit the H4 1200ema there was a violent bounce.
I am currently long from...
Last week it false broke up and this week it has closed below. Bears were a little stronger this week, just like how Bulls were a bit stronger the prior week.
One thing to note is this week was a heavy news week (due to elections etc) and remember, news is temporary and often times gets reversed
FIrst red line would be the first short, but the next 2 red lines will be the best places to short.
The latter 2 red lines have been proven to be good resistance and I don't want to say its not entirely impossible to break and close above them, but I feels the odds are low given the current state.
4H chart and daily still has some room to go up, so I would hope...
See my other related AU idea for more info
2 Weeks in a row Weekly MA100 has proven that its a force to be reckoned with and at this point its going to closeone of ther 3 in the title description
Short till its not!