AUDUSD

Looks good! Have you a target in mind? The downtrend as Remo suggested or the pennant break target?

first target is almost there at 10432 which was the breakout trend line(short term) dont ask me why but for some odd reason even thou the trend lines is higher than the initial break point it still causes a resistance.
second target is the main down trend line at 10540ish
there is also resistance at 10476

Remo's downtrend seems the obvious place ie 1.0541 ish.

Not only is it the main downtrend but, if we consider the pennant to have been a wave 4 triangle with wave 1 up from 1.0111 to 1.0301, we also have a wave 5 target of (1.0301-1.0111) 0.019 + (wave 4 low) 1.0341 = 1.0531 which is where the main downtrend will be in a few days' time so EWT suggests this as a target too.

Nice

This has now had 2 goes at the short term downtrend. It needs to break through on the next attempt to open up that main downtrend target:



dl.dropbox.com/u/20815047/AUDUSD4H24_03_13.gif

This is moving towards the trend line (10212)slowly. Worth a long on first attempt with tight stops

I mentioned this last time about the trend line trade
This worked out perfectly