$AUDUSD– Continuation?
Currently the cross is @ 0.9881 . We are sitting on support which could cause a bounce. We would then look for a wedge to be built. A break down here would indicate more bearish character and look for a move to the S7 @ 0.9765. Should it bounce here look to go up to the 0.9963 and then resume the downtrend.
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Comment by Adrian on November 21, 2011 at 4:42pm -
Hi Scott,
Can i ask you,how do you calcuate your S7(ie:9765 above) and Sx's.
Thanks,
Adrian.
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Comment by Scott Barkley on November 21, 2011 at 4:50pm -
We have a proprietary tool that plots Fibs and historical support/resistance and that gives us a highly accurate level since it is creating a composite of the two most important factors in target trading. Here's a video to understand it
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