Simple's Green Room

[pennies2007]

AU 4 Hour Chart

Well Jav, based on my experience so far with the new setup I'm running, I'd probably say AU is headed south again this week. The smoothed HA candles have formed a new supply zone and are curling over and have gone yellow. That normally means the larger trend will continue soon...namely down.

I'm also keeping the TDI in this setup as Simple suggested. It's moved back down below the yellow market base line and underneath the red signal line. It's used for confirmation only of course, not entries or exits. But with the candles moving away from that newly formed zone and the TDI moving down at the same time, I'd say short entries are the play.

Near term profit targets are the demand zones below.