Wednesday, October 27, 2010

AUDCAD

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.
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2 comments:

  1. AnonymousOctober 27, 2010 at 11:35 AM

    hi nic
    thanks for the posts

    ReplyDelete
  2. Dennis JonesOctober 28, 2010 at 5:22 PM

    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.

    ReplyDelete

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