Hello there,
I made a similar analysis like you did here,
according to my double supertrend ATR indicator, we are still in short region,
I wouldn't go long as my indicator say short
at the other hand as @jvon101 mentioned earlier, it depends on coming news,
you know news breaks all rules,
good luck with that
Vitope
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In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
magbrr
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Yes your chart looks good. However if I understand the 84.605 level on your chart to be a final target, Well I think on an intra-day basis it might be but it will be too early a target to identify as the end of the ensuing upward move from my perspective
jvon101
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What is your target ?
patterntrader
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@jvon101, The trade is not yet active. However, if it breaks up with sufficient volume, then I will set my first target around 84.400. Monitoring the pair with care. Thank you.
jvon101
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@patterntrader, Ok Im hoping that the the Aud news tomorrow will drive this up