AUDUSD retracement
Updated
In uptrend after breakout from resitance. Momentum slowing, looking for stochastic to turn down before going short. Pullback to rising trendline, which is also a 50% retracement.
Commitment of traders (see COT indicator) accumulation of short positions matches previous cycles prior to a similar price decline.
Lets see how this looks in a few months.
Commitment of traders (see COT indicator) accumulation of short positions matches previous cycles prior to a similar price decline.
Lets see how this looks in a few months.
Note
Target hit after 3 months, a few weeks late.
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