I think AUDUSD might play out something like this chart (see below), medium term.macman » Wed Dec 10, 2014 10:44 am wrote:
Hmmm .... hate to post this but not sure about that advantage 'over all other traders" Bob, as the Daily chart using a 'standard' RSI has been showing this situation for 3 days now.
Very interesting to see when the HGI indicator brings up the big green buy arrow.
That said the HGI indicator is a marvellous tool for teaching greater understanding of market moves IMHO. Couple HGI with serious chart watching and the average student will get a quantum leap in time saved understanding how the often moves.
Thanks for all the effort you have put into it. Greatly appreciated far and wide.
If it breaks or bounces off of that FIB 61,8 % will determine if it goes back up or further down.
Right now it looks like it is closing that gap that opened this week.
There's also the appeal of AUDUSD long carry trade and the US republican vs. Obama government funding
issue to take into consideration.
Luckily HGI will tell the story on intraday TF to harvest pips either way.
Moderators: delete my post if you feel it is off topic.
Here's another story on the pair:
http://www.alpari.co.uk/newsroom/audusd ... rt-upside/