Wednesday, October 27, 2010


AUD respects the 88.6 fib ratio number.  If you put AUDUSD on a high time frame chart you will see what I mean and it works in all the AUD crosses as well.
On Monday I posted a chart of the monthly AUDCAD  chart showing that AUDCAD looked to have broken up above long term resistance that I was watching for a sell signal.  Weaker than expected CPI numbers tonight for Australia has sent this pair shanking and it now does look like a neat short setup.  A rejection at the 88.6fib (2004 highs to 2008 lows) and the big trendline and two equal corrective swings off the 6 June lows.


  1. hi nic
    thanks for the posts

  2. Good posts, and good to see that if the right set up is there you trade it :-) Played short USDCHF correction from 0.99 last night.