Courtesy of Read the Ticker.
The Aussie golden canary is looking mighty crook, time for profit taking.UPDATED
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Reference:
Australia to enter a very sad period
COMMENTS: Investing in the Aussie stocks, is chasing dimes in front of a rolling bull dozzer, time to find a better place to make a buck.
History may not repeat, but it sure can rhyme. The previous two A-B-C (circled) is what to expect, also notice with the second A-B-C the second ‘B’ double top, very similar to the current pattern.
(See full chart via link referenced above)
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
..”Success in trading means excess of profits over losses. If anyone tells you they can almost be invariably successful, put him down as trying to impose on your credulity.”..
Richard D Wyckoff
..”The first rule is not to lose. The second rule is not to forget the first rule”
Warren Buffett