Loading ...Au(zzie) Dollar
As we know it is a Commodity Currency ( Tracks with Gold as well)
These lines were drawn before we hit point 4?
Following the path well so far.
Expecting it to hit the bottom rail …Gold will not do well until then
and if it doesn’t hold there we have a whole new worry !
??Half way pattern ??
SOMEONE TELL ME WITH A STRAIT FACE NOT TO WORRY ABOUT THIS !
I would think there is nothing to worry about until a failed BT of the top rail of the 2.5 year bullish wedge followed by a failed bottom rail of the fork. I’ve been following the 2.5 year bullish wedge every since I first seen it on Graddhy’s $AUDUSD chart posted on 6-14-17 along with Spocks $AUDUSD fork posted on 6-7-17. Not to mention, both of their charts have excellent cycle overlays IMHO.
Out of curiosity a few weeks ago, I overlayed $XAD on a $AUDUSD chart and found they track nearly perfect. If we get a BT and its delayed until the end of the year or so, we could get a BT at or near the intersection of the 2.5 year top rail and the bottom rail of the fork. My inexperienced guess is, we get a successful BT to the top rail of the 2.5 year wedge before moving higher. Maybe the joke will be on me but until then, I’m not worrying. This combo has been one of my favorites to follow lately. Thanks for the post.
The UUP looks like a it’s falling off a cliff tonite FBO or a serious BT and to the moon? I think it’s a long way down. Just my .02.
Here is my take on the ultimate long term $AUDUSD chart, posted in May 17:
https://goldtadise.com/?p=402797
I am not the slightest worried.