5/06/2012

First situation on AUD/USD

I was sure 2 weeks ago that it is in new up trend but market shown different thing. After horizontal up trend it seems we are at wave 1 new down trend.

Last fall down looks like impuls and thats how i treat it.



DT indycator on D1 Time Frame is bearish so no long trade yet - but it should be close to some local bottom.

Safe strategy would be waiting for wave 2 and try to jump in to short trade for wave 3.

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