Quick review. EUR/CAD yesterday afternoon, sell 1.4821 saw Bottom 1.4707, My target 1.4746 and yet again didn’t include Bottom Break at 1.4746. Bottom broke yet the trade to my reported bottom paid 75 pips. Trades I report are done and profit exit in what 1 hour, 2 hours. USD/CAD Long 1.3138, Target 1.3192 yet again hit target but continued to channel top at my reported 1.3203 – 1.3241. Price hit 1.1.3233. Profit to Target 1.3192 paid 54 pips. Then short to Target 1.3165, met target and 1.3154 for another 27 pips. 81 pips + 75 = 156. Then yesterday afternoon EUR/USD Long 1.1207, Target 1.1264 saw Dead Stop 1.1239 then recommended reverse short saw reported 1.1236 then 1.1208. + 32 Longs, + 31 shorts, total + 63. Total trades + 156 + 63 = + 219 Pips. Trades done and profited 1 hour, 2, whatever. Always correct, perfection to near perfection achieved, never wrong and always profits. CAD we must target Channel Tops since it gravitates to those Channel tops.
AUD/USD. Okay why was central banks and Hedge funds selling AUD throughout China Devaluation fiasco. Because nothing changed in AUD, Literally nothing. What will change, probably nothing as I see it except continued shorts.
AUD/USD. Bottom 0.7085. Range break above 0.7144, 0.7215, Below 0.7096, 0.7027. Overbought sell point 0.7129. As of this writing Bottom broke, we then target Bottom 0.7056 then 0.7027. Longs must break above 0.7121 to target 0.7129.
Brian Twomey Inside the Currency Market, btwomey.com