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Nearly Naked (Simple Trades)

  • #5,721
  • Jul 7, 2010 3:31pm Jul 7, 2010 3:31pm
Quoting Low
It would be disqualified as a harmonic pattern because point "C" is actually lower than point "A", though only by a pip or two.

On my feed at least.
Interesting. Mine is higher by 1 pip. Thanks!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,722
  • Jul 7, 2010 3:36pm Jul 7, 2010 3:36pm
Quoting MarcVUM
Assuming that this was a top due to PA hitting the 78.6% Fib as shown I can only see this pair retracing to 38.2% (around the 150ema here). Is anyone here good with these types of patterns...Gartley bearish...crab...bat???
Basing it off 61.8 fib, H1 MACD and RSI and S/R
  • #5,723
  • Jul 7, 2010 3:39pm Jul 7, 2010 3:39pm
Quoting Saxon
Basing it off 61.8 fib, H1 MACD and RSI and S/R
Also, hoping for a small correction before H4 and D candles close. AU data might also start pre-pricing...who know....today has been a really irrational day
  • #5,724
  • Jul 7, 2010 3:40pm Jul 7, 2010 3:40pm
Quoting MarcVUM
Assuming that this was a top due to PA hitting the 78.6% Fib as shown I can only see this pair retracing to 38.2% (around the 150ema here). Is anyone here good with these types of patterns...Gartley bearish...crab...bat???
Job figures out today, so I think fundamentals will play a bigger role in AU session.
Find a job that you love and you dont have to work again in your life.
  • #5,725
  • Jul 7, 2010 3:42pm Jul 7, 2010 3:42pm
Quoting Saxon
Also, hoping for a small correction before H4 and D candles close. AU data might also start pre-pricing...who know....today has been a really irrational day
Umm...good thought about the news.. with what Tradoholic and Siboy posted earlier the outlook for jobs in AUD is not so hot.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,726
  • Jul 7, 2010 3:43pm Jul 7, 2010 3:43pm
I don't see the top yet for au. Will look again tomorrow around 8715 area.
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  • #5,727
  • Jul 7, 2010 3:44pm Jul 7, 2010 3:44pm
TLC put this up on his thread a bit ago, I use it for quick-reference:

http://i27.tinypic.com/vn00ty.gif
  • #5,728
  • Jul 7, 2010 3:55pm Jul 7, 2010 3:55pm
Quoting MarcVUM
For everyone that is taking shorts on A/U up here... what is your Target Price?
short at .865 as well with .88 S/L and .835 TP. I am trading this from the 240m chart at the .618 Fib & Horizontal resistance zone.
  • #5,729
  • Jul 7, 2010 3:58pm Jul 7, 2010 3:58pm
Quoting jonpoler
short at .865 as well with .88 S/L and .835 TP. I am trading this from the 240m chart at the .618 Fib & Horizontal resistance zone.

Thanks everyone...I appreciate the feedback.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,730
  • Jul 7, 2010 4:03pm Jul 7, 2010 4:03pm
My UCHF. 1st one hit, second right at "00" to stack
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  • #5,731
  • Jul 7, 2010 4:08pm Jul 7, 2010 4:08pm
Quoting amyc
I don't see the top yet for au. Will look again tomorrow around 8715 area.
Hmmm.....I have my finger on the close trigger. Everything (to me) says sell, but today has been interesting. The only thing that as my hopes up for a drop is potenial pre-data pricing. H4 and D candle closes did't make me feel too confident on my short. Still holding on to my short right now though.....
  • #5,732
  • Jul 7, 2010 4:19pm Jul 7, 2010 4:19pm
Quoting Saxon
My UCHF. 1st one hit, second right at "00" to stack
I have been afraid to get under that one for some time.....you are a very brave man
  • #5,733
  • Jul 7, 2010 4:22pm Jul 7, 2010 4:22pm
Quoting jonpoler
I have been afraid to get under that one for some time.....you are a very brave man
Me and UCHF go way back, it owes me a ton of money
  • #5,734
  • Jul 7, 2010 4:25pm Jul 7, 2010 4:25pm
Ha, may the force be with you!!
  • #5,735
  • Jul 7, 2010 4:28pm Jul 7, 2010 4:28pm
Quoting Saxon
Hmmm.....I have my finger on the close trigger. Everything (to me) says sell, but today has been interesting. The only thing that as my hopes up for a drop is potenial pre-data pricing. H4 and D candle closes did't make me feel too confident on my short. Still holding on to my short right now though.....
We have to keep in mind that Amy trades on a higher TF so a move that I may be looking for (25 pips or so) is not something that she is after and so a "real" swing top is not in place just yet. I can see from my ma's exactly what she means. With that said I can definitely see us moving down to the new DP.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,736
  • Jul 7, 2010 4:32pm Jul 7, 2010 4:32pm
Quoting MarcVUM
We have to keep in mind that Amy trades on a higher TF so a move that I may be looking for (25 pips or so) is not something that she is after and so a "real" swing top is not in place just yet. I can see from my ma's exactly what she means. With that said I can definitely see us moving down to the new DP.
Ya, I'm still in it. My UCAD trade is doing ok now too. Up on both. My UCHF is up, but that is a long-term trade for me, either going to get stopped out or I want 100-500 out of it either way the RRR is pretty sweet
  • #5,737
  • Jul 7, 2010 4:37pm Jul 7, 2010 4:37pm
Quoting Saxon
Ya, I'm still in it. My UCAD trade is doing ok now too. Up on both. My UCHF is up, but that is a long-term trade for me, either going to get stopped out or I want 100-500 out of it either way the RRR is pretty sweet
IMHO I don't see any reason why there would be any buyers of A/U at 8650 unless the news is great. I do however see a reason to buy at DP.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,738
  • Jul 7, 2010 4:51pm Jul 7, 2010 4:51pm
Quoting MarcVUM
We have to keep in mind that Amy trades on a higher TF so a move that I may be looking for (25 pips or so) is not something that she is after and so a "real" swing top is not in place just yet. I can see from my ma's exactly what she means. With that said I can definitely see us moving down to the new DP.
Yes that is true, I am talking about 'the' top not 'a' top. I think though that the top for the next swing down is not coming anytime soon. I'm going to wait and see where the week closes.
  • #5,739
  • Jul 7, 2010 5:11pm Jul 7, 2010 5:11pm
Quoting MarcVUM
IMHO I don't see any reason why there would be any buyers of A/U at 8650 unless the news is great. I do however see a reason to buy at DP.
GU DP is on a minor S/R too
  • #5,740
  • Jul 7, 2010 5:19pm Jul 7, 2010 5:19pm
I really think that U is coming to a large correction. Potential wedge formation. MACD is showing div. At significant Fib off daily and Significant S/R confluence. If PA can get to UTL from Daily, then a pretty high prob short is in order
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