- Last 0.7839
- Uncanny how often fundamentals cross-roads coincide with technicals cross-roads
- Quarterly chart of AUD/USD : 0.8008 = key technical pivot point. Above = Green Shoots. Below = Dying Weeds. Resolution in favor of Dying Weeds can take us down all the way to 0.7013 .. and still just range trading in the big scheme of things
- Which one?
- Whilst awaiting market to decide - favor working into short AUD/USD if good levels present themselves
- Parameters from weekly chart - 0.8263 = good stop on shorts
- Entry point ? From here to stop on 1 lot ADU9 - loss = USD 4240 = too much. Downside not 0.7013 because should realistically expect it to take ages to get there.
- Patience. Markets undecided. I am not smarter than market. I wait too, unless short term volatility takes it higher for risk reward to become more favorable. Then I will pounce, in fast markets.
Was unprepared for this. Bad move.
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