Seems like AUDUSD has a potential for 0.70 in coming weeks. This could be one good psych level
HumbleTraders
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DislikedA Game Change of AUDUSD from short to long for next week - due to short selling wave count being invalidated on late Friday session. Short covering for my short positions is at 0.7136 before reverting to longs. Wave count update: {image} It's O.K. to Change Your Mind in Trading.............. especially about cutting losses.Ignored
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Disliked{quote} skyhok, how did you arrive at your target level for wave 4? (the line from 2 to 4, angle is determined by what?) also what does your analysis look for the overall trend - i had a play with your style of analysis and came up with this (please dont laugh to hard) - but I get the feeling your mindset is the larger trend is negative and we will see lower lows not 0.69 being the bottom. Would be interesting to see your view as I prefere trading the longer TF. weekly {image}Ignored
Disliked{quote} skyhok, how did you arrive at your target level for wave 4? (the line from 2 to 4, angle is determined by what?) also what does your analysis look for the overall trend - i had a play with your style of analysis and came up with this (please dont laugh to hard) - but I get the feeling your mindset is the larger trend is negative and we will see lower lows not 0.69 being the bottom. Would be interesting to see your view as I prefere trading the longer TF. weekly {image}Ignored
Disliked{quote} 1. 2-4 line should be dotted as a temporary line. Price level of 4 will be determined by the configuration of expanding diagonal wave (c) or the size of the upcoming zigzag (5). I'll be looking into it. 2.Thank you for your interest in long term AUDUSD, following are long term charts posted end of last year: http://www.forexfactory.com/showthre...91#post7925891 Present day update with previous analysis intact: {image} Like to know what you think!Ignored