Trading Edges That Last
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AUDUSD Mar 12 to Mar 16 Outlook
Lawrence’s Comment
Got breakout to the downside. Tagged Y-2. Bounced back to Y-1 and stalled from there. Closed the week at Y-2.
Outlook
The good – We got the breakout from the 4 week range finally.
The bad – It went back into the range by close.
If this pair can break B-1 clean, a long term sell is in place and we are looking for at least B-3.
If a 1-2-3 buy from here breaking above Y-1, will get B+1 quickly. And that means it is back to range trading again.
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