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AUD/USD

  • #24,141
  • Oct 7, 2010 7:09am Oct 7, 2010 7:09am
watch out the unemployment rate will impact severely, that rate has been down. There are no jobs! getting in after the report for some nice conservative pips..the wrap my day up 200 pips a day
  • #24,142
  • Oct 7, 2010 7:19am Oct 7, 2010 7:19am
great feedback guys,
I'll look to go long if we have good news after the initial fall.
  • #24,143
  • Oct 7, 2010 7:34am Oct 7, 2010 7:34am
Is AUD still on the uptrend move or a descension is starting with US session? I see a slight pullback of Gold to $1355
  • #24,144
  • Oct 7, 2010 8:04am Oct 7, 2010 8:04am
I love how jobless claims are near a three month low, yet the Euro and Aud still rally~! I almost wish I knew nothing about the markets so maybe, just maybe, what is going on would make sense.
  • #24,145
  • Oct 7, 2010 8:33am Oct 7, 2010 8:33am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
This picture shows a bearish candle. If it was higher some text books would call it a hanging man or a shooting star. Whatever....it means rejection or in simple terms when the price when up sellers quickly stepped in.

As my previous post I think tonight will have a bearish bias, or more so be a pullback. But tomorrow, who knows.

Attached Image (click to enlarge)
Click to Enlarge Name: 15 min1.jpg Size: 92 KB


The megaphone pattern is usually bullish, but this is at the top of an overextended trend, and if you look closely the resistance line has a steeper slop than the upslope of the support line, possibly indicating a bearish bias - for tonight.
Trade what you see, not what you think.
  • #24,146
  • Oct 7, 2010 8:35am Oct 7, 2010 8:35am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Quoting usapgapro
I love how jobless claims are near a three month low, yet the Euro and Aud still rally~! I almost wish I knew nothing about the markets so maybe, just maybe, what is going on would make sense.
As per my previous post. News just riggers price action. The direction usually breaks into the direction of the trend. If not, the swing will be short lived.

The trend is like a world champion boxer. If you take it on it will beat you up.....badly!
Trade what you see, not what you think.
  • #24,147
  • Oct 7, 2010 8:51am Oct 7, 2010 8:51am
sold
Look at my view

http://www.forexrainbow.com/files/ai...kgf9owei7l.jpg
A little beginner trader since 2006
  • #24,148
  • Oct 7, 2010 9:05am Oct 7, 2010 9:05am
this could get intresting. If we could close below 97.25 on Friday, that would be one big, ugly sore thumb at the top of the weekly. Sold 5 lots @ 99.00. Have moved stop to BE +2. If the sore thumb plays out and this thing turns bearish, it could make my year (and next year too!). Yes, market momentum is against this, but R/R doesn't get any better than this!

Regards
  • #24,149
  • Oct 7, 2010 9:09am Oct 7, 2010 9:09am
Quoting Naseri13
sold
Look at my view

http://www.forexrainbow.com/files/ai...kgf9owei7l.jpg
What's your target, Naseri?

Thanks
Use me as a contrarian indicator
  • #24,150
  • Oct 7, 2010 9:12am Oct 7, 2010 9:12am
im a huge bull now..after shorting and getting stopped. we broke historical resistance and now it looks to be supporting price. as long as we stay above .9849 area longs are in play
  • #24,151
  • Oct 7, 2010 9:15am Oct 7, 2010 9:15am
jesus, some times i think the market can read my mind price falling
  • #24,152
  • Oct 7, 2010 9:27am Oct 7, 2010 9:27am
http://www.forexrainbow.com/files/9p...8qcsjdxndj.jpg

New resould and view
A little beginner trader since 2006
  • #24,153
  • Oct 7, 2010 9:44am Oct 7, 2010 9:44am
This has been one of the most fascinating market scenarios I have had the privilege to participate in.
  • #24,154
  • Oct 7, 2010 9:49am Oct 7, 2010 9:49am
Quoting ForexTreeGuy
This has been one of the most fascinating market scenarios I have had the privilege to participate in.
ye you are right
http://www.forexrainbow.com/files/yq...2bef8nt748.jpg
A little beginner trader since 2006
  • #24,155
  • Oct 7, 2010 10:15am Oct 7, 2010 10:15am
http://www.forexrainbow.com/files/hz...f1k2rlhvpr.jpg
A little beginner trader since 2006
  • #24,156
  • Oct 7, 2010 3:35pm Oct 7, 2010 3:35pm
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 73 KB
  • #24,157
  • Oct 7, 2010 5:10pm Oct 7, 2010 5:10pm
Quoting redsword11
Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 67 KB
  • #24,158
  • Oct 7, 2010 6:10pm Oct 7, 2010 6:10pm
Quoting redsword11
Attachment
I have a different approach. I see bear flag and already short. If this minor double top holds, with DP resistance, then it should go down to .974. Plus it has a nice retrace to 38.2 level - indication of continuation
GL
Attached Image (click to enlarge)
Click to Enlarge Name: 2222.gif Size: 48 KB
  • #24,159
  • Oct 7, 2010 6:27pm Oct 7, 2010 6:27pm
Quoting pipsbull
I have a different approach. I see bear flag and already short. If this minor double top holds, with DP resistance, then it should go down to .974. Plus it has a nice retrace to 38.2 level - indication of continuation
GL
And here is the reason why I think the .974 will hold.
It was firm previous resistance - the price was bouncing off that level the whole end of September. It is also a daily S1 and a 50% retracement from the last move from .954
All above shall be valid if todays .9785 low is broken.
Attached Image (click to enlarge)
Click to Enlarge Name: 2222.gif Size: 49 KB
  • #24,160
  • Oct 7, 2010 6:37pm Oct 7, 2010 6:37pm
Quoting pipsbull
And here is the reason why I think the .974 will hold.
It was firm previous resistance - the price was bouncing off that level the whole end of September. It is also a daily S1 and a 50% retracement from the last move from .954
All above shall be valid if todays .9785 low is broken.
You should drag your toolbars in MT4 and arrange them next to each other horizontally. That way you'll get more real estate for your charts :nerd:
Stubbornly persistent
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