So big day today. GDP is expected to drive AUD down which bodes well for me. That's in 1 hr's time. After selling at 0.747 yesterday, I thought I'd gotten it right when it dipped to 0.745. Rebounded last night though to 0.75 though. But I still think all the signs for a long downward trend is in the pipeline.
1. About 3 days of gains, with accumulation at 0.748-0.75
2. Market makers would know that a low GDP forecast would drive prices down.
3. 4hr RSI at 70.
Let's wait it out and see. If it spikes however, I'll hedge and attempt to make back the losses again. Let's see how prices react to the release.
Yours,
X
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