Short $AUDUSD from 1.0521 due to:
- Downtrend line acting as resistance on daily chart
- Fast stoch (8, 3, 3) turning down (although it didn't get as high as I would like)
- 38% retracement from high to recent swing low on daily chart
- 20 ema acting as resistance
Target is still TBD. But assuming I don't get stopped out over the next 2-3 days (odds are relatively high that I will get stopped out):
- Could be based on the extension of the Oct 2011 + Dec 2011 swing low trendline (currently around 1.0300 and rising), as well as a Diamond Setups based level
- Could be the lower downtrend line on daily chart (currently around 1.0265 and declining)
- Could be .9950 area, based on some DS based levels
- Could be...
$AUDUSD daily chart |
$AUDUSD 2 hour chart |
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