AUDUSD is corrently trading in a nice downtrend, and as piphunters we then look for SHORTS. But currently price is trading an a close proximity to a string demand zone. So if you are already short you can stay long. But we can not enter short until we see a Norse setup BELOW demand zone. If price fails to bread demandzone, then we can start considering LONG if...
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
A FZR down of h8 Wave Level hapened today (inside the mid-term flat) - This FZR can trigger a FZR down of higher TF (d1)
New MF Protective pivot is created (1.7060). As long as this pivot is not broken - trend up will proceed. If price will break through the protective pivot = trend up of wave level h4-d1 (thats started from 1.6680) - will stop at least. To turn this trend around, a FZR of appropriate wave level is needed.