DislikedIt shot up 100 pips during Asian on low volume -Japan enjoyed a bank holiday.
Maybe start of distribution phase?Ignored
- #23,225
- Sep 20, 2010 10:59am Sep 20, 2010 10:59am
Mate, do yourself a favor and keep your hands off AU for now. Much as a short may look tempting, you will be taking a counter-trend trade as we are still in a solid bull move. That's just my opinion. Take it or throw it in the bin 
If the 4h candle now closes below 0.9467, and the pair is so overbought I think it will go atleast a little bit!
Nothing in the PA atm signals it will go further up! ?
- #23,227
- Sep 20, 2010 11:09am Sep 20, 2010 11:09am
Mate, do yourself a favor and keep your hands off AU for now. Much as a short may look tempting, you will be taking a counter-trend trade as we are still in a solid bull move. That's just my opinion. Take it or throw it in the bin
But there are alot of factor now that are declining a move furhter up!
-OVerbought on almost any timeframe.
- Strong Resistance zone.
- Close to 0.9500 ( Resistance)
- Price action starting to look Bearish.
- No PA signals move to the upside.
- MACD on almost any timeframe, even on dailiy
- Gold seem to failing at 1282
- #23,228
- Sep 20, 2010 11:15am Sep 20, 2010 11:15am
Technically, AU is overbought but still has room to go in its UT channel to target 96xx, especially the big boys will try to take out rumoured barriers @95
Fundamentally, I don't think we'll have a significant pullback b4 the next RBA rate decision (in a couple of weeks). And of course, keep an eye on the "risk on, risk off" BS !
Fundamentally, I don't think we'll have a significant pullback b4 the next RBA rate decision (in a couple of weeks). And of course, keep an eye on the "risk on, risk off" BS !
- #23,229
- Sep 20, 2010 11:15am Sep 20, 2010 11:15am
Hi,
You also need to keep fundamental factors in mind;
Obama at a meeting at the moment. His comments will surely shake the markets.
Plus later tonight we have gov stevens. Who knows what he is going to throw at us?
The bottom line is that it is your money. good luck
You also need to keep fundamental factors in mind;
Obama at a meeting at the moment. His comments will surely shake the markets.
Plus later tonight we have gov stevens. Who knows what he is going to throw at us?
The bottom line is that it is your money. good luck
I see your point
But there are alot of factor now that are declining a move furhter up!
-OVerbought on almost any timeframe.
- Strong Resistance zone.
- Close to 0.9500 ( Resistance)
- Price action starting to look Bearish.
- No PA signals move to the upside.
- MACD on almost any timeframe, even on dailiy
- Gold seem to failing at 1282
- #23,230
- Sep 20, 2010 11:17am Sep 20, 2010 11:17am
Hi,
You also need to keep fundamental factors in mind;
Obama at a meeting at the moment. His comments will surely shake the markets.
Plus later tonight we have gov stevens. Who knows what he is going to throw at us?
The bottom line is that it is your money. good luck
But yea. I thinkk ill keep my short from 0.9467 a littlie bit longer and watch the PA and close it for a small loss if I see somethng bullish!
- #23,238
- Sep 20, 2010 1:08pm Sep 20, 2010 1:08pm
P.A. topped just a few pips below that 161.8 fib extension @0.9498, certainly looks like a good place to short. But I'm not taking it, my guts don't let me, maybe I'm wrong or just plain 
but I still believe this could go higher or at least hold here for a while.
but I still believe this could go higher or at least hold here for a while.
