DislikedOn 4 hour chart we are into a period of indecision since marked higher low so I then look to the daily chart - until we get a break of approx 8060 high or approx 7800 low it is not clear whether the move from 8060 to 7800 was a pullback or reversal. My bias is towards shorts given RBA warnings on the effect of too high an exchange rate and the size of the move up since June would support a bigger pullback (if not reversal). Need to be prepared for moves in either direction though as even if it is a reversal we may see retests of the high first....Ignored
- #102,649
- Edited 9:56am Aug 25, 2017 9:45am | Edited 9:56am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #102,655
- Aug 28, 2017 4:02am Aug 28, 2017 4:02am
- | Membership Revoked | Joined Nov 2012 | 3,392 Posts
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"