AUD/USD

I have closed by shorts from .9980 that I opened on 10/14. I still believe we will see 300-400 pips lower fairly soon, but such a big move in one day should render a retrace (.98 to .9850 ?) before another drop. Will look to resell on the retrace.

Regards,

I took one of Ganns ideas and started to adapt it to time analysis. Imagine throwing a stone in a pond. The ripples spread out and grow as they move eventually the lose their power and you can no longer see them, but they are still there travelling to the other side of the bank, being reflected back to the source until eventually they die out.

If you think about what price is you will realise that it is encoded data. Every single belief, desire and want is reflected in the price the market moves to. Every piece of information that every trader who has traded this pair knows is in the price, filtered by the person belief, that is what price is, or represents.

As price moves the initial reason is lost, but the ripples still spread out, cancelling and re-inforcing moves as every decision is reflected upon and new judgements are made.

Every market vibrates to its on special tempo, harmonise with that tempo and trading becomes effortless.

However, my price level D represents a doubling of price frequency and the circles are based on a simple geometric increase a bit like the way a crystal structure would grow in nature.

Will it work, no idea...I am and always will be learning and willing to learn about the markets.


Good luck to you all

Mike Haran

I have been playing around with a 3 step triple play system that lets the last 10% run. With some of Mikes targeting I can set the 1st 2 profit takes and let the rest trend till 3 times atr retracting takes it out. This should be interesting. This is a great thread!

Thanx for the mumbo jumbo but I'll stick to my intraday scalping (Kidding)

Bullish hammer on hourlies, but my bias will be sell on rallies for now.

I hope you make a packet, scalping is a sport of gentlemen :-) annoys brokers as your not there long enough for them to do anything to you.

Gann was a mathematician, all the crude about tunnels through the air, planets, etc was a good bit of showmanship. Why else would you pay the guy $5000 to have him teach you?

He used fourier analysis, of that I am sure and because he was an intelligent guy possibly modified it a bit as well. He was quite a man. I would have loved to have met him in person.

My bias is to the downside now as well, but the AUD can kick like a pony and it won't go down without a fight.


Good luck


Mike

Still not in the trade, I have a trend line that we have still to break in situations like this, I look for the price to close above my trend line and then I buy the retrace. Its a technique as old as the hills and it still works today.

A pull back to the lower trend lines would have me long once we move outside the circle this move should be up, my bias is still to the downside at the moment as we broke the last low, it could come up a fair way though.


Good luck


Mike

Still going to 0.9400 and maybe deeper

http://preview.shareapic.net/preview7/023727501.gif

The Trend is keep Bearish but the Stochastic start to have a Bullish line crossing.

Will you Exit the Short Position Trade?

i saw a seemingly quick 10 pip to scalp, using a whole lot of lots, i jumped to GBP/AUD and lo and behold, 19 pips margin" wow.......instantly it was off, just like aud.usd, sudden turn"?????? oops im biting my lips..any good trade this tonight, cos i am not seeing and good trade, or im i sleeping""?lolz

Not going there yet, it want to go up now.

My crystal ball says so :-

Mike Haran

So proffesional help that you got taught you that there is crystal ball in trading? Interesting....

Hey Mike,

What's going on man?

Listen you said first that your bias is downside... yet if we cross the last ball without breaking the bottom channel the ripple fades away and we have a new move up???

Which way is it? lol

Boffin in tweed

http://crave.cnet.co.uk/gadgets/man-...ture-49305387/


hehe in two weeks, I wonder was he buying at the exact point
http://www.snopes.com/humor/iftrue/insider.asp

Andrew Carlssin

Crossed the line to the upside, time cycle is in, so I am long now, don't know what will happen next cycle in 80 hours. So in and sitting tight now, reduced the number of contract traded. It might retest the low, it sometimes does, but it could also sail away.

I have my opinions but..


the low made was 16 pips from my entry, but I only get in at my price or when it confirms, now its crossed my trend line thats confirmation for me.

Hope that explains it, if not drop me a PM.


All the best


Mike Haran

No I understand but sometimes when a target is not made it will come get it... and get it hard screwing you and everyone else over. Watch volume and follow the trend.

Haran, If Gann theories are applied to this pair then this is a good level to sell. And you know what... I'll actually take a short here. hehe let's see what happens. TP 95.50

Usually the min retrace up is 38-50%, no reason to even think about a short yet.


Mike Haran

Man,

I agree to say that no reason to short now. But we have no reason to go Buy also.

I bought because I have seen my cycle stuff work very well so my faith in it is growing. Those fast falling fractals can be amazing when they work as well, so I guess its all down to what you know or what you think you know. I closed my buy trade at the 38% level, my bias is now long, I am just looking for a better entry. I like to get in close to or at my predetermined point, in this way I can trade more contracts.

As I go through my cycle points my bias switches, so for now I will be looking to buy on pull backs untill the next cycle point is in which is some while off yet. Really I should have not taken a short here, I should have just added another contract and let the first one run.


All the best



Mike Haran

Would also like to add that even though we have reached one cycle point, the reaction last night could be all we are going to get, if it breaks 0.96531 then I will hold my current short trade. Its difficult at the moment as I need swings to calculate from and I don't really have enough to forecast on, I also think we are in part of a bigger cycle which is down. If we do go below 0.96531 it would be a weak sign for the AUD.

i think will drop now - i'm @ breakeven but will leave this trade. I have my SL @ 0.9815
Just got 60 pips on eurjpy drop, nice