Negative China data has the potential to grab Aussie down to 0.894
And if positive, to test 0.907 again
And if positive, to test 0.907 again
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Dislikedau view current price 0.8997 a daily close below 0.8988 should see 0.8925 along with this current inverted hs with potential right shoulder target at 0.8820 -magenta channel for neckline and top of shoulders {image}Ignored
DislikedWhat is this?! Spike=Citi FX Pro the other=Oanda If this is a stop hunt (@ 0.9000), it is so wrong. Good thing I didn't have a position... {image} {image}Ignored
Disliked{quote} yes it surely does.... sorry I wasn't too specific and caused some misunderstanding, but in any case here's what I'm looking at -what I'm pointing out is the forming of the right inverted shoulder with potential target (retracement) of 0.8820 -of course a break below the head (0.8658) should invalidate the invertedIgnored
Disliked{quote} Careful B, USD is weak across the board China PMI later might give short term bearish for A/UIgnored
Disliked{quote} You are correct. The inverted head and shoulder pattern we are watching is on larger time frame. Anticipating a decline to around .88 for the shoulder to complete then a rise to around .9350-.9450 I think that is the rise in price you are referring to that needs to happen for an inverted head and shoulders.... Of course we all know that the anticipated pattern could fail badly at any point in time.Ignored
Disliked{quote} Careful B, USD is weak across the board China PMI later might give short term bearish for A/UIgnored
Disliked{quote} Ken, why you estimate pmi data will be bad? Last month trade balance data was good from previous month.Ignored
Disliked{quote} I said might due to various news I read about China + Asian Indices are decliningIgnored
Dislikedshort @ .90337 trailing stop of 35 short @ .90177 trailing stop of 35 short @ .90117 trailing stop of 35 China data has not had as much impact as I thought it would, so much uncertainty. I think we are still going down.Ignored