where to from here?

  1. 1,380 Posts.
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    well, as I write, price still around important 1.0770 - 1.0780 level. Previous highs at this level (start sept, end oct) resulted in huge drops.

    I want to go short, knowing that there will be a big fall SOMETIME. So that means go long everyone.

    :)

    everything else is lagging today, obviously, given RBA moves. But AUD won't stick its head above everything else for long. Either others will catch up, or AUD will fall. We wait...

    some ichimomku charts:

    Chikou span needs to clear 1.0750 decisively. Hasn't done so yet.

    No hint of a turn in trend yet. But of course we won't see it before it happens...




    1.0700 looks to be good support, from the 4 and 2hr charts:







    Daily with fibs: this worked well. Using the Nov to Dec move as the fib range was confirmed for me when price moved back to the 100% and dallied a bit (start of Jan). There was another bout of profit taking at the 138%, and then it powered on to the 161%





    How handy is that 200% fib, 1.1095....? Where have I seen that price before....?





    So the answer to "where to from here...?" - I have no idea, I'm afraid. Still so much stuff to happen, US session response to RBA; Greece/Euro stuff; etc.

    US dollar looks strong at present (apart from against AUD!)

    :)
 
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