whats happening today, page-11

Hi WatchnLearn,

I had a bearish divergence on the 15, 30 and 60 minute charts.

At the time of posting I had a short position badly out of the money but was (fairly) confident that price would come back down. Which after a decent heart attack for me it did indeed come back and I closed my short at a profit.

I only held on as my view is the opposite to yours, I believe that the long term trend is down. The AUD seems to have a lot of triangle patterns with good success rates and I believe that it is currently completing a descending triangle on the daily charts with the horizontal line at 60 cents. I would expect that we will see 50 cents before we see 70 cents.

Regards,

Temp