The daily chart had a nice rising wedge that could have been playable short with resistance at the 200. Wish I'da seen it.
I'm camping out on it now since the bottom fell out of it. That was a good entry at 7515.
We're getting a buy signal on AUD/USD on the short-term charts. About to get a MACD buy signal on 30-min chart with buy signals on shorter charts already. Nice +MACD divergence on the 10-min. It's drawing out a nice bottoming wedge on the 5's. All occurring at support established July 26/27...
...if we pull back to the uptrend over the next few days. This one is sitting on support, which was resistance on the way up. Up volume is much lower on the second top than it was on the first.
It is a little thinly traded but the idea with symmetrical triangles is to look for an increase in volume as it trades out of the formation. Such is the case today. Current Stop: 26.50
Mike,
Point well taken. For now I'm just trying to show people how to draw and read charts. Patterns, support and resistance, volume, candlesticks, etc. I'll be doing more in the future as time permits.
Gary