AUD via Wyckoff

Discussion in 'Technical Analysis' started by hcour, Jun 4, 2007.

  1. hcour

    hcour Guest

    AUD looks poised for a bo here. A buying climax around A, as price goes sideways the next several bars. A reaction 4/23 - 4/24 that breaks the uptrend line on good vol and spreads to B. From here unable to rally, supply to C, filling the gap, close near the high that bar. Then a mostly unimpressive rally back to D, the 5/11 wide spread, high close, strong vol, not following-thru. But the reaction to E sits nicely for a while at support to F, which springs the low at C. The rally here to G is nice, good spreads closing on the highs on strong increasing vol back to resistance at the channel supply line and the previous high.

    Long on the daily, looking for some kind of bo here, soonish.

  2. Joab



    You missed the move and the safest entry point was your lower ma.