On September 4th; the 4H chart was illuminating as the spot rate cut above the 200 day moving average of 0.9063.
More importantly, was the fact that the Ichimoku showed a cut up on September 3rd at 0.8986.
So we had the first confirmation from Ichimoku and then the second confirmation from the cut up of the MA, I should have done this analysis back on September 3rd when I did the spot trade and also the 2 day call option. Had I done a longer dated analysis, I would have paid the higher premium to capture the BIG move.
Looking at the Daily chart the next critical level is 0.9321, if the spot level breaks the Ichimoku cloud on the upper side, then, we have a new bull trend in the AUD.
What’s important now is to learn from hindsight so that going forward we do not lose the potential opportunity if it presents itself again. Believe you me, the opportunity will come again, this is the wold of FX.
The Panthenon Investment Group 