Trading Aussie by the dots. Waiting currently for a short set–up to finish developing. 
Trade active
After a failure to progress, as shown by the 75 pip RSD to close the week, Aussie should continue down. The projection is for a bottom around 6590. First it has to get below the 50% line of the most recent move up. Trade active
Will add to short if it goes higher and stays under the top. The high at 6939 is the SL on a daily close. Trade active
Based primarily on tariff war phase 1 hopium, the pair did go higher and the previous trade was exited when the pair closed over the 6939 high. Subsequently a reversal has occurred over 70 and a dot entry developed at 69832. A short was been entered at 70176 based on the reversal at the top. The dots have confirmed a move down is under way. AU finished the week just over the 50% line of the last section up, but well under the "go" line at 25%. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.