AUD THIS WEEK: 2.9-2/13/15

In our last post we were looking at an oversold run (which was good since we had selling signals) prior to the news sell off.  The oversold position was an entry for bull buyers.

Skip forward to this week, and once again we have a signal sell off and another oversold position.




[22:11] <CM> on the 15m  we see bo of the lower targets, a bear channel  and in the middle a 50cb develp that was tested and failed suggesting more selling.

[22:53] <CM> ryder  5m broke out of the hockey stick  reminds me of that selloff few days ago  had nice pb from oversold

[00:09] <CM> buyers at 76490
[08:07] <CM> 01[00:10] <CM> look for additional consideration at 76550


and how we git there,,,

2/10

at upper limit LB which failed suggesting selling. Also the MB was biased toward the SB,

The sellers had two lower targets and new sellers struck around 77720/  Price complete the run to T1 and T2 for exits.

Y2 held for a countertrend  development  to set up the next bear leg.

2/11/15

bear channel, range run selling, SB break out, a 50CB test that failed (suggests continued trend) and then the major sell off.


Now we are back to an oversold position.

The buy signal  and a follow up position with an upper 50CB to test.

Range run when the 50CB broke confirming the reversal from the low buys.  The LB becomes the new support.

A very nice week.