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Aussie Trading Room and Cartoons Gallery

Quoting dbutton1990
I hate consolidation! lol
I need to make it an effort to start trading when London session opens up
Quoting dbutton1990
I hate consolidation! lol
Consolidation is hard to play indeed.
Quoting dbutton1990
I need to make it an effort to start trading when London session opens up
Are you in Europe?
The reason I trade AUDUSD only because my time zone is not good for trading the Euro. When European News hit the wires, I would be sleeping.
Quoting DaddyBear
So, you think it is moving higher from this level? How high are you looking for?
1.0500-20
Quoting Mr. Scott
DB:

Agreed, short-term markets are driven by emotion and EWP is a good tool to guide you, long term it is the fundamentals.

Although, I think that some indecision here is due to fundamentals as Aussie got some bad news recently, but US is up in the air between fiscal cliff and QE4? on Wed.

I think Helicopter Ben is giving Aussie a bid here.
I agree with you that fundamentals play important roles in the long run. However, the higher the TF is , the more reliable the EWP will be.
Quoting Tim_isoara
1.0500-20
It was there already. Did you fall asleep?
Quoting DaddyBear
Consolidation is hard to play indeed.
But, it is the prelude of the next major move. IMO, the next move may eject the Aussie into the Deep Space.
Quoting DaddyBear
The reason I trade AUDUSD only because my time zone is not good for trading the Euro. When European News hit the wires, I would be sleeping.
DB Today I had 2 transactions with Aud/Usd and one with Eur/Jpy.But the money was made with EUR / JPY .I now follow Aud/Usd Eur/Jpy and Eur/Usd. Aud/Usd is boring now.DB I think you need to look and for other currency.
Quoting DaddyBear
But, it is the prelude of the next major move. IMO, the next move may eject the Aussie into the Deep Space.
I hope nobody misses this opportunity. Some bears are looking for a few hundred pips bear run right now. This could lead them to bite the dust in the end.
Quoting DaddyBear
But, it is the prelude of the next major move. IMO, the next move may eject the Aussie into the Deep Space.
Hey papa long time no see... how have you been...just curious...you think this current consolidation can reach 1.0465 before the deep space ride...
Quoting Tim_isoara
DB Today I had 2 transactions with Aud/Usd and one with Eur/Jpy.But the money was made with EUR / JPY .I now follow Aud/Usd Eur/Usd and Eur/Usd. Aud/Usd is boring now.DB I think you need to look and for other currency.
Thanks. I used to trade multiple pairs at the same time. Now, I only trade AUDUSD. Rolling stone gathers no moss. I believe my way will pay off in the end.
Quoting DaddyBear
Then, what really moves the market? IMO, EWP is the real power moving the markets. It's difficult to master EWP. Furthermore, it it also not easy to get consensus of wave counts among the people who use EWP. Even it is a very good tool in trading decision making, most people just run away from it.
EWP = The starting, middle trend or finishing of peoples decisions....The big boys turn the market at a Bottom and Pile into a Long Position < this is the initial move, then the earliest ones to enter the trade , take some profit and the PA pulls back a bit, now the big boys who turned the market, and then took some profit...wait.....
they wait for the indicators to pull back to the bottom again , and for other traders to go short. And then they re-enter Long with great force and numbers. this is also where the very conservative traders enter, also after the Market has re-tested the bottom....on the second wave up, which is also the longer wave.....The big boys again take profit causing the PA to fall away..........they again wait for the indicators to pull back to the bottom again and they re-enter the 3rd wave, or some have stayed in the trade and have now added positions to their trades.
This 3rd wave is where the weak traders enter......as the PA starts to climb up, the big boys watch to see if the PA falters or not. The big boys pick the location to start their retreat of their positions from the move and the PA pulls back one last time , the PA goes into consolidation once again, only small fish are moving the market. The big boys now wait for larger TF's to bottom before their next move up, this could be hours away and the cycle continues all over again......
The reason why the move holds is they leave some positions in, with the hopes to drive the market higher in the next trading session....
DB:
Quote
But, it is the prelude of the next major move. IMO, the next move may eject the Aussie into the Deep Space.
Agreed, higher time frames are king. IMO, we are in c correction on higher time frame, target slightly below top of wave 3, so still short. Looking for signal for consolidation to break and most likely get long.
Quoting Mr. Scott
DB:

Agreed, higher time frames are king. IMO, we are in c correction on higher time frame, target slightly below top of wave 3, so still short. Looking for signal for consolidation to break and most likely get long.
Put chart please.
Quoting forexalien
EWP = The starting, middle trend or finishing of peoples decisions....The big boys turn the market at a Bottom and Pile into a Long Position < this is the initial move, then the earliest ones to enter the trade , take some profit and the PA pulls back a bit, now the big boys who turned the market, and then took some profit...wait.....
they wait for the indicators to pull back to the bottom again , and for other traders to go short. And then they re-enter Long with great force and numbers. this is also where the very conservative traders enter, also...
Very detailed explanation of the market moves. Although I am not in agreement with you 100%, the majority of your message is a good read.
Quoting Mr. Scott
DB:

Agreed, higher time frames are king. IMO, we are in c correction on higher time frame, target slightly below top of wave 3, so still short. Looking for signal for consolidation to break and most likely get long.
I agree with you about "we are in c correction on higher time frame." But, not quite sure about your wave 3. where is it?
Quoting DaddyBear
Very detailed explanation of the market moves. Although I am not in agreement with you 100%, the majority of your message is a good read.
Thank You ....What might you change, or what are your thoughts, positive or negative with my statement?
Quoting DaddyBear
Are you in Europe?
No. Us. Seems to me that most of the action happens from 3am to 11am est
Quoting forexalien
Thank You ....What might you change, or what are your thoughts, positive or negative with my statement?
Positive!

There are tow patterns. Let me use the impulsive pattern as an example. In wave one, most people are not convinced. So, a setback occurs, which is wave2. When it moves again, the people who missed wave 1 pile in. This creates the most powerful wave 3. When momentum reaches its maximum, some people believe it's over. They pull out the game. Wave 4 is then formed. However, some people who believe it's not over pick up at the bottom of wave 4 and move it again. This is wave 5. By the end of wave 5, the momentum runs out of steam, it begins to reverse the course.
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