AUDUSD retracement
In uptrend after breakout from resitance. Momentum slowing, looking for stochastic to turn down before going short. Pullback to rising trendline, which is also a 50% retracement.
Commitment of traders (see COT indicator) accumulation of short positions matches previous cycles prior to a similar price decline.
Lets see how this looks in a few months.
Commitment of traders (see COT indicator) accumulation of short positions matches previous cycles prior to a similar price decline.
Lets see how this looks in a few months.
Note
Target hit after 3 months, a few weeks late.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.