My whole AUDUSD neural net model is shot to hell because of the massive selloff last year, so I'm forced to rebuild it from scratch.Â As I ponder the inputs for the model this time, I'm spending time familiarizing myself with that market again.
So what do I do?Â Well I pull up a chart of the AUDUSD currency pair and slap a Fibonacci Retracement tool on it.Â Its amazing how many traders use this tool because prices tend to "retrace" to certain price levels BECAUSE so many traders use Fibonacci.Â Self full-filling prophecy I guess.
Anyway, I'd be playing a breakout of 0.7461 in this currency pair, if it can ever get there.
(click to enlarge)
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