Checking Out AUDUSD

• 1 min read

  • Forex
  • Neural Nets tags: [] meta: _edit_last: '5' dsq_thread_id: '259512688' author:

    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.  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?  Well I pull up a chart of the AUDUSD currency pair and slap a Fibonacci Retracement tool on it.  Its amazing how many traders use this tool because prices tend to "retrace" to certain price levels BECAUSE so many traders use Fibonacci.  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.

    audusud-042109(click to enlarge)


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