DislikedIMHO Dan's question is the most important question because before it can be answered you have to have your definition of a trend. Is it left to right, using a trendline, highs and lows, breaking out of a channel, other? For most currencies is the last month to six weeks just a bigger retrace or the part of trend change? Looking forward to the forums discussion.Ignored
The first thing we look at is a simple left to right glance... is price going up or down (looking at about 300 bars of a chart). Personally I do also take into account whether or not we are making higher highs or lower lows etc and whether or not we have an obvious trendline in place.
The question is... what can we see looking at the AUD/USD chart?
Oh... and just for fun, have a look at this chart... shooting star forming at the resistance trendline - could be looking at a significant point here.
Regards,
Dan