The fall has resumed and I am short again.
May 20 may be a chart point direction date.
(This is not a Gann date).
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The fall has resumed and I am short again.
May 20 may be a chart point direction date.
(This is not a Gann date).
I recently mentioned possible reversal due on 20th - today being the 19th it may be a day early.
Hammer/Harami off Fib and changed polarity lines could signify a possible reversal at this point IMO.
http://www.reefcap.com/ubb/uploads/051804A.gif
140 pip max profit range yesterday for anyone who took the initiative.
For medium term holders there was a nice northbound run of around 470-500 pips from C area as envisaged 19/5 which ended at red line resistance of A.
There now appears to be more downside to come IMO.
http://www.reefcap.com/ubb/uploads/07272004.gif
Aussie may reverse north off the uptrend line.
Watching for a cofirmation reversal signal, however if
the TL breaks, the chart will need to be re-accessed.
The alternative scenario on a TL break is a trip to the
next UT line (circa .8400), forming a bullish Gartley.
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i've been stopped out on all the aud longs at the 8680 level (about 80 above where it is now) and I never took a kiwi one. for me this trade idea never worked and I entered a bit soon as well.
so it goes.
Always a dilemma when there are twin scenarios, but
it does appear now that the 2nd is in the frame.
In these cases a serious entry regime with MM should
always be followed
The red Gartley having reached the first resistance zone appears
to have been an integral part of the old blue BF which could still
be alive and well and heading for the next potential lower target.
A completion to the Blue BF PTZ would then create a new Gartley
(mentioned 2 days ago) shown in turquoise.
Blue box is PTZ, (c) with 2 UT line possibilities for support/reversal.
watching aussie for possible short
? evening star formation
wave 2 retracing 786 fib wave 1
The AUDUSD could be looking for a rise in the short-term...