FIVE
At important resistanceAs you can see drawn we are at an important resistance level. I believe a pull back to $44 or further is warranted after a drastic run up on price and high PE. RSI Showed quite overbought and after hitting these levels the prior two times we saw a quick decline. This is one stock I'm short of.
5-O(h!) aussie-dollar.This pair has appeared rather volatile as it enters consolidation. The 5-O movement dictates that there should be a bounce north at 0.74555. As you can see, this falls within pips of the pivot point where price has previously found support resistance! Starting from the top, the points are identified as OXABCD. By buying it at the D point, we are holding the trade until price reaches resistance at the C point. 2:1 risk as always!
Bullish 5-0 pattern, Time to short?!This could be a great reversal or just some silly pattern. We are in a very deep correction from previous up waves.
What were you all thinking on this pair?
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FIVE Day Trade (Brad Reed Jan9,2015)FIVE expected to open at 37.49 for a Perfect Gap N Go. To learn to trade this strategy for free, go to www.RealLifeTrading.com
