4Hour
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–Weakness from the Sep high is impulsive (5 waves). The advance from the 10/2 low would consist of 2 equal waves at .8389 (common corrective relationship).
-A channel confluence reinforces resistance.
-The NZDUSD is not confirming the AUDUSD push through its Sep high. This divergence is typical at market turns.
Trading Strategy: Triggered short at .8388, stop is .8440. Target half at .8315.
LEVELS: .8231 .8266 .8310 | .8385 .8435 .8480