nice 15min Doji with volume just appeared....lets see if this reverses
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- Aug 31, 2018 3:01pm Aug 31, 2018 3:01pm
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- Post #104,323
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- Aug 31, 2018 3:21pm Aug 31, 2018 3:21pm
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nice 15min Doji with volume just appeared....lets see if this reverses
Some Friday levity
"Pride always comes before destruction...." -Proverbs 16:18
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- Aug 31, 2018 3:40pm Aug 31, 2018 3:40pm
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Post #104,325
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- Aug 31, 2018 7:45pm Aug 31, 2018 7:45pm
{quote} Unfortunately, a 15min Doji becomes irrelevant when you have so much higher time frame momentum in play. The 4H break lower was perfectly sexy and powerful. {image} Some Friday levity {image}
yes indeed the higher timeframe was doing its thing but i don't give a rats about the 4hr when I am scalping 5/15m tf.
still managed to steal 4 points on that doji before the train could go past me
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- Sep 2, 2018 3:41am Sep 2, 2018 3:41am
- Joined Mar 2008 | Status: Name real with real own way | 18,709 Posts
Not understand?never follow my analyses!
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- Sep 2, 2018 4:28pm Sep 2, 2018 4:28pm
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If you are tracking the AUDUSD this week, consider this technical perspective.
On the H4 time frame, price action experienced a parabolic southward move for much of last week, respecting a minor descending trendline (black). Technically, such a move is not likely to be sustainable. It will likely require a northward pullback before a southward continuation can be validated. The 0.72730 area is likely to be an area we may expect price action to retrace to; the area is a confluence of a previous minor horizontal support and the 50 Fib retracement of the most recent downward swing on the H4 time frame.
I may be wrong. Trade safe and prosper.
KP
On the H4 time frame, price action experienced a parabolic southward move for much of last week, respecting a minor descending trendline (black). Technically, such a move is not likely to be sustainable. It will likely require a northward pullback before a southward continuation can be validated. The 0.72730 area is likely to be an area we may expect price action to retrace to; the area is a confluence of a previous minor horizontal support and the 50 Fib retracement of the most recent downward swing on the H4 time frame.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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- Sep 2, 2018 9:39pm Sep 2, 2018 9:39pm
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- Post #104,330
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- Sep 3, 2018 3:04am Sep 3, 2018 3:04am
- Joined Aug 2008 | Status: Member | 3,386 Posts
- Post #104,331
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- Sep 3, 2018 9:13am Sep 3, 2018 9:13am
- Joined Aug 2009 | Status: Ride the Pig | 31,178 Posts
Look Sharp/Trade Tight
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- Sep 3, 2018 10:17am Sep 3, 2018 10:17am
- Joined Jan 2014 | Status: Less is more ... | 8,896 Posts
Fix up, trade sharp ...
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- Sep 3, 2018 7:46pm Sep 3, 2018 7:46pm
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- Sep 3, 2018 9:00pm Sep 3, 2018 9:00pm
- Joined Aug 2008 | Status: Member | 3,386 Posts
AUD @ .7195
Sellers coming in before balance of payments data and RBA announcement.
Interest rates seems to be the talking point not in actual terms but how the RBA will tone it .
Some are suggesting the next direction will be up but given the economic woes Australia is currently facing it cud be the opposite.
Now the economists are saying later for rate increases but the govt economic forecasters are suggesting that growth will slow in 2020 so I dont know what they are thinking about higher rates for and the US are talking about a recession 2 years out .
Work that all out you're a genius and that's why economists aren't .
Sellers coming in before balance of payments data and RBA announcement.
Interest rates seems to be the talking point not in actual terms but how the RBA will tone it .
Some are suggesting the next direction will be up but given the economic woes Australia is currently facing it cud be the opposite.
Now the economists are saying later for rate increases but the govt economic forecasters are suggesting that growth will slow in 2020 so I dont know what they are thinking about higher rates for and the US are talking about a recession 2 years out .
Work that all out you're a genius and that's why economists aren't .
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- Sep 4, 2018 1:52am Sep 4, 2018 1:52am
- | Joined Jul 2018 | Status: Member | 75 Posts
- Post #104,337
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- Sep 4, 2018 2:05am Sep 4, 2018 2:05am
- Joined Aug 2009 | Status: Ride the Pig | 31,178 Posts
Look Sharp/Trade Tight
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- Sep 4, 2018 2:15am Sep 4, 2018 2:15am
- Joined Jan 2014 | Status: Less is more ... | 8,896 Posts
Fix up, trade sharp ...
- Post #104,339
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- Sep 4, 2018 10:39pm Sep 4, 2018 10:39pm
- Joined Jan 2010 | Status: .... | 3,897 Posts
anyone saw the butterfly?
- Post #104,340
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- Edited 5:37am Sep 5, 2018 4:57am | Edited 5:37am
anyone saw the butterfly? {image}
lasty, your pessimism up until now carries credit as it reflects in the price of AUD/USD, i respect that, and nice call btw. You are a better trader than me in that aspect since I think any price sub 0.75 is a good buy on AUD/USD, But this pair is so oversold now its not even funny. I like it when pairs reach such levels as it gives one rather high odds of being correct , by going long at these levels. Lets see where the price sits in a couple of months. I bet it won't be sub 0.73
Cheers
ps: my SL is @ 0.69500 and I am targeting 0.7600 at the very least , giving the trade time to do its thing up until DEC 2018
