AUD Vs USD

14 мая 2019 г.

This made me sit-up! With so many contacts on both the lower and upward lines
of this downsloping wedge, I can't help but take notice of this development!
With the relative strength index also showing a divergenge to the price of the
Aussie, it makes sense to obliterate the news or fumdamentals as far as I'm
concerned, and go with the flow!
The next upswing should break-out of the wedge at around 69.90 and if it does
I am going to ride the trend with cautious stops moved progressively upwards
to protect my position.
A stop under the current price price at about 69.33 should protect this initial entry.
No less than 12 points of contact are currently showing on the lower trendline of the
wedge, ( this is almost unheard of in my experience), and 9 points of contact on the
upper trendline make this trade a no-brainer for me.
So I'm going long at 69.53




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