im still following the traingle scenario on the weeklys, which means the aud is going a lot lower.
see previous chart.
normally the e wave of the triangle ( currently unfolding ) is a 3 wave affair.
i would say rally at the moment should be sold.
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Hi DA sorry for the late reply but been busy with other stuff,just fired up some charts and see that EUR/USD has broken to the top side of my north bound channel on the daily and is now also above a fairly long term downtrend line I have.
Always have a look at what you post:),hope all going well.
Cheers
Miner
Just had a look,held obove my lines and up 300 odd pips :).
Spot on and a nice trade. I personally hold a little sceptism about the legs on this move.
It was well telegraphed and with the whole world short usd i like the usd long side , but very
counter trend trade which requires extreme caution.
Gl guys and good to see a few posts
Hi DA,just had a look and put on another 200 odd pips, got to get the odd one right:eek2:,would have taken out a few shorts,with eur/usd it's a bit of a case of which one is further up sh*t creek than the other:confused:,so can get a bit dodgy playing it.
maybe something significant happening to the downside in the aud.
there is a trendline up there at 1.06 , with a potential double top, dailies posted a bearish evening star and some fib lines too.
like i said before the world is short the usd so plenty of fuel for a good run south .
could QE3 be old news, 2 short trades on for 400+
i suspect with a lot of upperward momentum there may be a few more twists but lets see .
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