WHAT TRADERS SEE USING TECHNICAL ANALYSIS

PLEASE SEE THE CHART FOR AN EXPLANATION AS TO HOW TO BUILD UP A PICTURE AND AID YOUR DECISIONS WITH GETTING LOW OR GOING SHORT.
PURELY TECHNICAL ANALYSIS, MACRO INFLUENCES CAN BE ALSO ADDED TO HELP REFINE THE PICTURE FURTHER.

MONTHLY LEVELS AND LINES ARE RED.
WEEKLY LEVELS AND LINES ARE BLUE.
DAILY LEVELS AND LINES ARE ORANGE.

Komentar:

So the sentiment seems to of shifted here in this pair moving pass the two levels i was hoping to get short at. This is also apart of building the picture for the trade. Keep nimble with your bias. My 2 levels outlined were my line in the sand. Price having moved pass these levels signals to me i need to take another look at price action possibly adjust levels or look to MACRO news influence.
Of recent times the TARIFFS that have been imposed by the US, have not been applied to Australia. As a commodity based economy, the rally in price is the market pricing in the advantage Australia now has over other economies around the world.
So the rally we are seeing is a MACRO influence and as the announcement was sudden you see the dramatic move in the AUSSIE dollar.

Komentar:

So it would seem my neckline needed to be slightly higher, AROUND the .74500 level. So this would have kept my idea in play for the testing of the overall direction for price and a short entry. retest of the 50 EMA. RETEST OF THE SUPPORT LINE (neck line). Retest of the underside of my weekly upwards trend line ( blue ).

As we see this did actually play out with a strong move lower now. Acceleration to the down side now. Always take something out of the lesson the Pair is showing.