EUR/AUD Short for Monday the 18th.
This is my first published idea.
When I first looked at this I saw Kijun heading straight up and thought to myself, OK, let's go long, but Kijun is also a lagging indicator. Seeing a kumo twist in the future, and after plotting what I believe to be multiple resistance/support levels, it looks to me like there might be some more long action, but I don't think it will last, and a sharp turn to the downside is imminent. And finally, as added incentive for me to go short, shrinking the 4hr chart to see more of the larger picture (the major trend), EA has been in a nice downtrend for sometime, so I'm hoping it wants to return to previous sentiment.
When I first looked at this I saw Kijun heading straight up and thought to myself, OK, let's go long, but Kijun is also a lagging indicator. Seeing a kumo twist in the future, and after plotting what I believe to be multiple resistance/support levels, it looks to me like there might be some more long action, but I don't think it will last, and a sharp turn to the downside is imminent. And finally, as added incentive for me to go short, shrinking the 4hr chart to see more of the larger picture (the major trend), EA has been in a nice downtrend for sometime, so I'm hoping it wants to return to previous sentiment.
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