I have spent the last 4 hours analysing AUDUSD on monthly, weekly, daily and 4 hourly timeframes. I have a rough idea where price is heading over the next 40 years. I seriously recommend everyone to always spend some time analysing the larger timeframes for any pair before drilling down to the lower ones. My analysis and the system I'm working on is based on price action at its core.
I have spent the last weeks on EURUSD only, but it's time to add AUDUSD into the mix.
As for our 300-500 pips move down, I believe it is almost upon us.
The question I have is, does it start on Monday or Tuesday.
Hopefully my system will give us a nice Sell signal to go by.
I like your analysis but I think there is another push up higher to the mid to high 0.7800 before we see the move down. However I may miss the trade if I do not short it now lol. Let us see what the price action shows us. I would rather be out of a trade and not losing money than in the trade and losing it. :)
marcus123
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Like that bit about " ...rather be out of a trade and not losing money than in the trade and losing it"
MarlyForex
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nice idea! this is my view
waterman
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Mr. dreams, yours will remain most probably as a dream only. After Doha aussie will shoot up to parity and beyond with other rising commodities !!
marcus123
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lets hope so...
tst
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try again
sam.aziz
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I see where you are coming from but this is a VERY LONG time frame. Even though it broke the downtrend if it retraces back to the downtrend line before the resumption of up move, you may be looking at 600 to 700 pip retracement.
tst
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Yeah. this is not a trade just a assumption of were we are in trend. Forexdreams mentioned 40years! in his post, so im just contributing to that prospective only.
All the best :).
sam.aziz
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Plus I just looked at the weekly chart and the downtrend is still intact according to the line
tst
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sorry have a low time frame trade Prof loss tool over the last month.