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- 2006-7-3
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楼主 |
发表于 2008-5-11 16:56
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I would have to agree with you somewhat, but may give it a bit more. I took a look at the 8 hour chart and see the 209.00 high from the 11 AM candle on April 18, also the 38.2 % fib at just above 211.00. I think the pair may have a challenge getting through past 211.
However if it does I see a resistance that formed around 214.00 that has not been broken since the pair dropped below this level on Jan 11. The pair is also stying within the rising channel at the moment and has not broken this either. If these supports do happen to be broken, then the it may be able to reach the 50% fib at around the 217.00 mark.
Should be interesting to see how it plays out. I am looking to short the pair around 209.00 if we do not break 210.00. On a sustained break of 210.00 I will stand aside to see if we have a failure on any of the other supports before I go short.Attached Images
Playing around with the GBP/AUD since the last time I looked I had it in a wave 4. I am unclear at the moment of how this is playing out. After the wave 3 I can only count 3 corrective waves for an abc and now a possible continuation of wave 4 with another abc, or a wave 1 and 2 and start of 3 of wave 5.
There is also the upper trend line from the Aug 16th high just above which really has me unsure of how this will play out. Staying on the sidelines until we either break above the line or bounce off it and head lower again. I may short the pair close to the trend line and set a stop above it for minimal risk, but good profit potential since the pair has been dropping by a few hundred pips on bounces off the highs.
Attached Images |
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