Yesterday we said that unless the Shanghai Composite is showing another major down day, the Aussie won't break lower.
Wednesday, the Shanghai Composite 1% lower but this was certainly not enough to start a new bearish trend wave. The Shanghai Composite is still above its support level at 2983. As long as this holds, there is no reason to short the Aussie.
It's not often that such obvious connections exist. Make sure to use it to your advantage and don't sell prematurely. Wait for the confirmed breakdown in Shanghai to get on the train of a high probability trade. Currently, all premature short positions are in a squeeze which is totally unnecessary.
Wednesday, the Shanghai Composite 1% lower but this was certainly not enough to start a new bearish trend wave. The Shanghai Composite is still above its support level at 2983. As long as this holds, there is no reason to short the Aussie.
It's not often that such obvious connections exist. Make sure to use it to your advantage and don't sell prematurely. Wait for the confirmed breakdown in Shanghai to get on the train of a high probability trade. Currently, all premature short positions are in a squeeze which is totally unnecessary.
I have been trading for 15 years!
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: www.tradeciety.com/webinar/
> Free blog: www.tradeciety.com/blog