AUDUSD outlook.
Move down to 6M OB at 0.7450 Look for bullish PA to ride to new highs. Take out 2017 high.
The fact we held low before breaking high indicates a MS break. So as bearish as 3m - 12m candles look on longer term, the price moves suggest we will take 2017 high.
This retracement is just a knee jerk reaction of all the stops we took imo. Many longer term short were squeezed.
I only dont like the fact we came back into the 1st 6 months range. But as i said we took so many buy stops (shorts) that this could just be a knee jerk reaction and institutions covering.
By the end of December i want to see a rally back above the first 6months high of 2017. which is 0.77493
Next 2 weeks is very important as it marks end of 2017, how the 3m, 6m, 12m candles close will be of interest to me.
I want to see no play play around 7450, we need FAST moves.
The fact we held low before breaking high indicates a MS break. So as bearish as 3m - 12m candles look on longer term, the price moves suggest we will take 2017 high.
This retracement is just a knee jerk reaction of all the stops we took imo. Many longer term short were squeezed.
I only dont like the fact we came back into the 1st 6 months range. But as i said we took so many buy stops (shorts) that this could just be a knee jerk reaction and institutions covering.
By the end of December i want to see a rally back above the first 6months high of 2017. which is 0.77493
Next 2 weeks is very important as it marks end of 2017, how the 3m, 6m, 12m candles close will be of interest to me.
I want to see no play play around 7450, we need FAST moves.
Penafian
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