AUD/USD

That's retracement right?

Probably the start of down leg 5 of the downtrend EW... unless DTLs are broken.

By now, consolidation period, as it can be seen on H4.
No real uptrend for me unless 8700 is clearly broken.
50% retracement on wave 3 is around 8570.

For those of you more experienced, why the sudden steep upturn of the AUS/USD? Everything news wise has been in favor of the USD not so?

It has brokern my trend lines....

A/U. The white rectangle should now be new Support going forward. A long there might work wonders!

A slight push upwards. Will the sentiment continue upwards? Time will tell. I'm going long.

i m expecting a possible bounce of support at possibliy 8410-20 ,, i m seeing a strong down momentum at the momment , i have been doing some studies regarding the upper target for the fifth wave up before the correction ends , i have been looking at the trend pattern from the 10th to the 13th of Mai ,, its very possible that the trend might follow the same price action happened back there .
a long consoildation in the form of a bullish flag that breaks up but fails to make new highs then the next move down starts ,,
i m more in to this scenario for one reason , when i look to the dollar index chart i see a break up coming soon after the pattern thathas been forming there for few days now.
i m seeing the 5th wave if it emerges ending at the daily 20 Moving average at 8562 which will move down tomorrow to around 8540 , i dont ever wanna trade a break up from this resistance so if i m gonna get into this trade to close it around that level then its more wise to wait for it to go there and short as the price aint so far from that level , specially when we have the NFUP coming out tomorrow
and if we mannage to make a half position short above 85 , i think its a very good long term profitable position ,anyways ,,, stay alerted to the blog

War could break out at any time- North Korean diplomat According to a Dow Jones headline.
http://cdn.forexfactory.com/images/misc/progress.gif

Look for the headlines to add to “risk-off” sentiment

the move up in a correction that happened from the 10th of Mai to 13th , where the price moved up then consolidated in a bullish flag then it broke up but didnt mannage to make a new high then broke down to the 3rd wave down ,, i was very hesitated to jump into the long side cause i felt this scenario might come into play and i think we r pretty much into it right now .
i might wanna jump in into the short side when i see the proper setup but i ll be very cautious as i m expecting a consolidation in the trend before the NFUP tomorrow

Might of jumped the gun a bit but I decided to go SHORT @ 0.84499.

Seems to be a little resistance there so why not. If it moves up to 0.8490...I'll either exit or add to my position. I should just exit but a couple of newsletters that I have faith in have issued a strong sell advisory.

Looking for it to break below .84.

Aussie is losing steam on the uptrend. Looks like going down from here.

0.8480 and 0.8520 shall be a good resistance.

http://www.reuters.com/article/idUSTRE65263920100604

Usd Positive

By the end of summer. For carry traders time enough to act. Otherwise, from fundamental point there si few, if any, reasons for aussie to go down. Technically, however, I can imagine correction down to 0.82..

haymaker, i really want to trade this pair again,, so do you think this is a good level to short this pair? please your advise.

0.8480 I'm selling at that price with stop at 0.8510.

good on you mate but hey, where did you get your crystal ball from... you sound so confident with your call...

wish you all the luck you need those

I'm not "so confident", I am trying to be as emotionless as possible. Thanks and good luck to you too!

emotionless??? are you trading live or demo account??? when you learn the secret in controling emotions, kindly please teach me

I'm on live account. The secret in controlling emotions? Hmmm... I assume every entry as if I am buying and selling private properties (Real Estate). You wouldn't be afraid if the price of the private properties increase or decrease by a few thousand dollars on a daily basis, would you? This assumption really helps me to be as emotionless as possible. Hope this will help you too!

if you don't mind, how long you've been trading? i want to learn.