There are so many interesting things going on here from a technical analysis perspective. Let's break them down per section. First of all, we cannot miss this beautiful rising wedge. A rising wedge is formed when price consolidates between upward sloping support and resistance lines. The slope of the support line has to be steeper than that of the resistance....
Third attempt today to place some winning trades. Thankfully this time I seem to have taken the peak and should be good from here. Some basic technical and my trade lines drawn on. Lost $250 ish today. Still working with 50k lot size. Aiming for a large level profit once we touch down on green again :)
It is about time us Bears got together and smashed this cheeky bugger off the worlds top spot. As you can see here we have combined waves of tightening wedge formation on the chart. We also have some strong fundamental key events to help drive emotions and stretch budgets. The cloud of short interest is growing and if we slam hard come NFP we will be able to see...
Long term outlook very bleak for the once relatively strong AUD. It's been a tough two years on the Australian currency. With a very wobbly gold price dictating the nerves and a phenomenally crucial period of USD relative strength the AUD is suffering without a doubt. Using a simple fib based regression trend analysis along with a modified pitchfork that ties...
Perfect Fib match up along with a beautiful head and shoulders pattern to finish before the inevitable fall. Who knows, maybe we might get an all time historical high while we are at it at 2135 or beyond. "who ate all the pies" I don't have a potato.
-Structure LH´s and LL´s -ABCD in play -Overall uptrend if we look at the weekly chart -Arrows show what could happen I see this big move to the down as a major retracement for the weekly chart.