audusd basing?, page-51

I have been mainly long against the CHF: EURCHF and USDCHF which has been pretty nice.

Funnily enough, I am now short on them with more persistence on the USDCHF short.

The EURUSD looks like a longer term short in my opinion so I have a small position (from 1.2746) in that as well with quite a large range for stop loss but an equally larger target (roughly 2.4:1 return to risk). Will pyramid the move and reduce the stop loss gap when I get better confirmation.

Not game enough for AUD shorts just yet. The fact that it hit 0.9276 is a sign to me that it will head higher. The COT confirms this view as well although unfortunately Elliott Wave doesn't support the same story in how this movement has been following the channel all the way up i.e. is a corrective polywave. In simple terms, EW is saying at the moment that the top of 0.9385 will not be broken by this move. Anyway... this is all just conjecture at this point. I would rather wait for confirmation on this one.

Summary: Currently short USDCHF, EURCHF,and EURUSD (longer term).