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AUD/USD

  • #21,561
  • May 4, 2010 8:48am May 4, 2010 8:48am
Quoting Cotton-I-Jo
It seems a very nice area 4 loading LONG !

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BAT became CRAB instead. covered my shorts , stand aside and watch for time being.

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If cannot hold above 9100, will be staring at test of 9000?
  • #21,562
  • May 4, 2010 9:35am May 4, 2010 9:35am
i think now the AUD completed or almost completed 3 waves down from the top and its about to go into 4th wave before the 5th down ,, i would be cautious with long but i think it ll be well capped around 9200-10 ,it would be a good short there , but with all the levels on the way that it has to go throught , like the previous 9130 lows and 9150-60 , and 9180 ,, i m not sure with this strong momentum down it can really bounce that high to 9200 but we will see how this momentum will develope ,, but i think in general about 93 is far from reality now ,,
  • #21,563
  • May 4, 2010 9:43am May 4, 2010 9:43am
Quoting johny_bravo


.... gonna short the heck out of it ... or not

i.m still bearish, closed 3/4 of my shorts yesterday though, but just added one more

ideally i'd like to see it going till 0.89 but to be honest i.m not trying to predict anything
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  • #21,564
  • May 4, 2010 9:56am May 4, 2010 9:56am
the rsi didnt reach this oversold level on the hourly chart since like forever lol
thats a crazy downtrend , but i m looking for a minor relefe to short but i cant find one ,,, but still i cant just short of here with this rsi level
  • #21,565
  • May 4, 2010 10:00am May 4, 2010 10:00am
Quoting Jesus4748
the rsi didnt reach this oversold level on the hourly chart since like forever lol
thats a crazy downtrend , but i m looking for a minor relefe to short but i cant find one ,,, but still i cant just short of here with this rsi level
Yes, this selldown seems fairly orderly with intermittent weak consolidation in between. I will be careful of trying long for rebound for time being. Prefer to watch first. Dun see it rebounding too strongly as yet.
  • #21,566
  • May 4, 2010 1:22pm May 4, 2010 1:22pm
thought id post this in here as the aud/nzd forum doesnt seem to have much in it.
does anybody have a position in aud/nzd?
at the moment i have it breaking through what seems quite a major tl, it is from the 13/10/2008 to 6/10/2009 daily low closes.
I have a bullish view on the pair, especially with it being in an uptrend.
I have a buy order placed at 1.2435, which is the 0.618 fib from october 09 low- april 10 high and has also provided support before.
i may go long sooner if todays candle fails to close below the red dotted tl
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  • #21,567
  • May 4, 2010 4:58pm May 4, 2010 4:58pm
Thanks guys for pushing the action down. I love waking up to a good profit. Keep it going. http://cdn.forexfactory.com/images/icons/icon10.gif http://cdn.forexfactory.com/images/icons/icon14.gif
  • #21,568
  • May 4, 2010 9:02pm May 4, 2010 9:02pm
the down trend is confirmed, i'll seek for a bouncing to take another short.
  • #21,569
  • May 4, 2010 9:54pm May 4, 2010 9:54pm
Quoting MasterOfFibo
it will go up and hit 0.9350 before it going down to 0.9100
closed my sell at 9100, waiting it to rebounce back to 9350. it just went the other way from my prediction
  • #21,570
  • May 4, 2010 10:11pm May 4, 2010 10:11pm
Quoting MasterOfFibo
closed my sell at 9100, waiting it to rebounce back to 9350. it just went the other way from my prediction
I took a long at 91. Looks like a rebound coming. Daily PP and Weekly S1 around 9145.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #21,571
  • May 4, 2010 10:31pm May 4, 2010 10:31pm
I am short. Longed 9075, flip to short 9110. Looks to me like a triangular mini wave iv on 15 min. Think will break lower and test 9045 or lower to complete wave iii of 3. Again, just my view, I may be wrong as well.
  • #21,572
  • May 4, 2010 10:34pm May 4, 2010 10:34pm
Quoting MarcVUM
I took a long at 91. Looks like a rebound coming. Daily PP and Weekly S1 around 9145.
to levels to watch on the upside ,, 9130 915s 9175 should be a strong resistance and i dont think it might break above it
i m caustious with any long as the down momentum is very strong and as i see in my chart last downleg happened few month ago ,, it went down to 9075 then it bounced back throught the asian session to 9130-40 before it hits 0.9 ,,, that might happen to be the scenario here again so i think its better to wait and short than long small bounces
  • #21,573
  • May 5, 2010 3:09am May 5, 2010 3:09am
Breaking down ..

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  • #21,574
  • May 5, 2010 4:10am May 5, 2010 4:10am
ill short at .9275
  • #21,575
  • May 5, 2010 7:13am May 5, 2010 7:13am
Clouds, i'm with you, this price is no longer a good price to enter, 0.9275 is good.
  • #21,576
  • May 5, 2010 7:43am May 5, 2010 7:43am
didnt i warn about longs here for minor bounces and the high risk in working against the trend ,, i see it bouncing from 8980-0.9 level ,,, ,, its following the exact same secnario for the downleg in jan.. same levels same everything

coming fown from a pattern ,, testing 9075 then bouncing above 91 then sinking again to 90 , thats what happend in jan and whats happening now
  • #21,577
  • May 5, 2010 7:51am May 5, 2010 7:51am
When will we see 9275 again?
  • #21,578
  • May 5, 2010 9:59am May 5, 2010 9:59am
Quoting blurbear
When will we see 9275 again?
i think the best we can see is 9175 not 9275
  • #21,579
  • May 5, 2010 10:13am May 5, 2010 10:13am
Quoting Jesus4748
i think the best we can see is 9175 not 9275
My sentiments also. But too early to tell. Lets see how the waves unfold.

Aud shd be close to a stronger rebound, if not into one already. I am flat now, waiting to see if we get a lower low today to try some small longs near 9000 or just below if we get there. Gut feel says one more low.
  • #21,580
  • May 5, 2010 10:31am May 5, 2010 10:31am
i had a sell order on the dark blue tl with a tp on the purple line, got home to see 80 pips profit. nice feeling when it works.
looking to re enter short, quick look shows,
dark blue tl again between 0.91- 0.912,
red tl which is descending tl from 16/11/09- 17/3/10 highs (around 0.918)
or top light blue tl, around 0.9250
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