Monday, June 21, 2010

AUDUSD#4 - wait

My trading buddy has always been studying this pair.


From 4H chart, Tenkan-sen still moving above Kijun-sen. So it remains bullish for the time being, though the big gap-up today is waiting to be closed some time.

It's currently at fb80 retracement from the Big Red L1 down wave. A reversal can just happen anytime, confirmation will be Tenkan-Kijun crossing.


No bearish cross of Tenkan-Kijun in 1H chart as well.


Tenkan is crossing Kijun at the time of writing, but doesn't look like a steep and convincing cross.

Wait.

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