AU took a beating from the RBA's "Dovish Cut". Of course it spiked up first to take out weak bears. We were short from MUCH higher and happy to ride.
AU fundamentals for remainder of year should be bearish. Now we need to lay some traps for re-entry opportunities. Initial bounce has energy so do not under-estimate the retrace.
.
See some of my other Forex calls below. I also plot Crypto and some Stocks, check my Profile Page.
(perfect short a year ago) (still in play) (perfect top, huge profits) (the very tip-top a year ago) (perfect entry, huge profits) (pinpoint Entries/targets) (Upthrust warning just in time) (recent perfect entries) (perfect long to short flip) (perfect entry, huge profits) (Perfect entry, still in play) (Fib extensions at work)
Of course, I have had total FAILS on some plots also, not going to pretend. But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Commentaire
⋅
So much for that plan :( No trigger, no trade. BUT we might ending this wave going up. Looking closer at that green Fib.
Commentaire
⋅
Zoomed in on the Green Fib (on bounce) I like the clean Pings. So plotted two possible Ping Points to watch for possible short entries.