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  • #34,481
  • Oct 14, 2011 12:43am Oct 14, 2011 12:43am
PA Still respecting Gann Box and has touched the 200SMA. Time for a trade long 1.0178.
Attached Image (click to enlarge)
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  • #34,482
  • Oct 14, 2011 12:47am Oct 14, 2011 12:47am
Quoting doblece
And here is a probable price action for the next hour - couple of hours: a break of the rising wedge on 5min charts, with projection of the move towards the 5M SMA200 level (roughly).
Now should go to A-B-C correction (m5) to 1.0198-1.0204 (23.6-38.2 fib on wave 3) - for the EU, 1.3773-1.3779.
(will post charts later on, connection and computer are awfully frozen)
  • #34,483
  • Oct 14, 2011 1:16am Oct 14, 2011 1:16am
Quoting DonL
PA Still respecting Gann Box and has touched the 200SMA. Time for a trade long 1.0178.

Closed trade at 1.0219 for 41 pips and reversed position.

Great price action today!!

(Edit) Closed reverse position short at 1.0198 for 20 pips
  • #34,484
  • Edited 1:39am Oct 14, 2011 1:24am | Edited 1:39am
Nice trade, those are the ones you want. I was just playing it on a very short time scale with small channels + the fibs, it did what it was suppose to do, but have to jump out quickly once it completed the move in the channels ... limit orders do the trick.

EDIT - Back in 10225 on a break and hold of the median

EDIT CLosed in 30 seconds +15
Attached Images
  • #34,485
  • Oct 14, 2011 2:12am Oct 14, 2011 2:12am
Quoting webart
Nice trade, those are the ones you want. I was just playing it on a very short time scale with small channels + the fibs, it did what it was suppose to do, but have to jump out quickly once it completed the move in the channels ... limit orders do the trick.

EDIT - Back in 10225 on a break and hold of the median

EDIT CLosed in 30 seconds +15
Indeed, Aussie price (as well as Fiber's) have been respecting beautifully (although with much passion, lol!) all levels tonight, and even giving some more bonuses on top.

I wish those markets would be so predictable all the time...
  • #34,486
  • Oct 14, 2011 2:30am Oct 14, 2011 2:30am
The fundamentals sometimes do spoil the beautiful technical market ! Those dam fundamentals ! BUT most of the time really they go hand in hand. Also on a smaller time frame the technicals can do their stuff inbetween the fundamentals. It all about trading the reaction, not chasing the big moves .. for me anyway.

I closed 5 winning trades, 3 where longing into a failling market. That is pure technical, the fundamentals are just giving it the energy.

Again another beautiful technical move off the median line, same line as I got my 15pips from last trade and again it just rockets up even leaving gaps in price.
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  • #34,487
  • Oct 14, 2011 2:40am Oct 14, 2011 2:40am
Quoting doblece
Indeed, Aussie price (as well as Fiber's) have been respecting beautifully (although with much passion, lol!) all levels tonight, and even giving some more bonuses on top.

I wish those markets would be so predictable all the time...
It's great when a plan comes together! Although, I'm out of my chart with that last spike and now busy redrawing.
Found a healthy respect for the 200SMA on a 5 min chart this week along with a re-facination for good ole W. D. Gann!!
Now, if we can just have days like this...everyday and figure out if that last spike was a false breakout or not.
Wish I had left that long trade in place all the way up to 1.0256 but decided to take profit on a sure thing.
Attached Image (click to enlarge)
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  • #34,488
  • Oct 14, 2011 2:43am Oct 14, 2011 2:43am
Quoting webart
The fundamentals sometimes do spoil the beautiful technical market ! Those dam fundamentals ! BUT most of the time really they go hand in hand. Also on a smaller time frame the technicals can do their stuff inbetween the fundamentals. It all about trading the reaction, not chasing the big moves .. for me anyway.

I closed 5 winning trades, 3 where longing into a failling market. That is pure technical, the fundamentals are just giving it the energy.

Again another beautiful technical move off the median line, same line...
For me as well.
When I think most traders call that: "noise"... hmmm (hehe).
  • #34,489
  • Oct 14, 2011 3:22am Oct 14, 2011 3:22am
Seems both pairs took the bearish pattern option in the first place.

Beware, it's Friday: if there are no signs of a heavy profit taking from the bulls after midday, we might be in front of a reversal and be headed to much higher realms... (do I see inverted Head & Shoulders on both pairs, on the hourly charts? although the head projection would only lead about 30-40 pips above the higher point of probable reversal - 2.24 extension).
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audusd_m30update_oct14.gif Size: 20 KB
  • #34,490
  • Oct 14, 2011 5:15am Oct 14, 2011 5:15am
I am still waiting for my long term plan for AUD to reach touch the 1.040 to 1.050 line ( with 300 point cut loss) before i plan to short. And I am getting impatient. Any ideas why is it taking like forever ? The news seems ok, there is good news overall for AUD strength. Greek is getting its bailout, europe is coming closer to a rescue plan.
  • #34,491
  • Oct 14, 2011 5:22am Oct 14, 2011 5:22am
Quoting rnegoro
I am still waiting for my long term plan for AUD to reach touch the 1.040 to 1.050 line ( with 300 point cut loss) before i plan to short. And I am getting impatient. Any ideas why is it taking like forever ? The news seems ok, there is good news overall for AUD strength. Greek is getting its bailout, europe is coming closer to a rescue plan.
its moved up 900 pips in 9 days..wheres the problem?
  • #34,492
  • Oct 14, 2011 5:23am Oct 14, 2011 5:23am
Couldn't say where it's going long term, but it is setting up nicely for a short if the news out of USA is negative in 8 mins. Short from around 68 .... oh oops it just jumped 68 just then hehe ... hopefully it will hang around up there for some bad news !
  • #34,493
  • Oct 14, 2011 5:28am Oct 14, 2011 5:28am
Bad news than opportunity to buy on dips..with the huge carry trade ,no matter what it's still better to buy aussie than usd..previous 0.94 is really an opportunity to buy at really cheap price..Good Luck !!
  • #34,494
  • Edited 6:16am Oct 14, 2011 5:34am | Edited 6:16am
Oh what a shame it was good news hehe. There goes my shorting idea.

Edit Long 10272, support where resistance was top of the upchannel it broke from.

Closed 10298.
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  • #34,495
  • Edited 6:16am Oct 14, 2011 5:51am | Edited 6:16am
closed a quick long from 1.026 to 1.028.. still holding an earlier long from 1.022. which makes 3 trades for today, think i'll just sit back and spectate till market close

edit: TP'd at 1.0305. already feel like i shouldve let it run instead.. oh well
  • #34,496
  • Oct 14, 2011 6:23am Oct 14, 2011 6:23am
All making money here it seems, good stuff. Yeah it kinda sucks when it continues on, but on the other hand, plenty of times (most) when I jump out of a scalp and it swings back hard the other way ... I always like that !.
  • #34,497
  • Oct 14, 2011 6:24am Oct 14, 2011 6:24am
On its way to 1.0375 !
  • #34,498
  • Oct 14, 2011 6:26am Oct 14, 2011 6:26am
I think it will hit something at 28 (small resistance) and 38 (bigger) first.

EDIT oops also a decent line at 21, just bounced off that.
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  • #34,499
  • Oct 14, 2011 6:45am Oct 14, 2011 6:45am
Quoting FX-Petra
Buy order triggerd overnight @ 0140. Again, not much of a dip, but it may be all that is available in the present environment. Target 1.0300, probably not until next week.

Regards,
OK, maybe not next week. Took another lot @ 1.0200, closed both @ 1.0320. Looking for another pull back to buy. Seems shorts have had their day, and AU may be back into its old pattern...... Pain for Shorts. We'll see. Good trades to all.

Regards,
  • #34,500
  • Oct 14, 2011 7:01am Oct 14, 2011 7:01am
Also, if we get another dip before 01400, I will be looking to add a couple lots for a long term, new high hold. Let's face it, if this baby breaks and holds above the daily down trend line (approx 0375), a topside test is pretty likley.

Regards,
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