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AUD/USD

  • #41,621
  • Mar 9, 2012 9:50am Mar 9, 2012 9:50am
AUD/USD traded kinda funny today: negative values for the U.S. Trade Balance and Employment/Unemployment, yet AUD still dropped. Looks like AUD/USD wanted to drop to the black trend line before think about going up.

Just goes to show that Technical Analysis is first, and Fundamentals second.
Attached Image (click to enlarge)
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  • #41,622
  • Mar 9, 2012 10:04am Mar 9, 2012 10:04am
Quoting rubber_ducky
AUD/USD traded kinda funny today: negative values for the U.S. Trade Balance and Employment/Unemployment, yet AUD still dropped. Looks like AUD/USD wanted to drop to the black trend line before think about going up.

Just goes to show that Technical Analysis is first, and Fundamentals second.
That looks like one big BEAR FLAG getting ready to roll.
It's the simple things in life that have the most powerful meaning.
  • #41,623
  • Mar 9, 2012 10:05am Mar 9, 2012 10:05am
Closed my 0525 @ 0650. Kind of a whimp out. Will re-enter @0525 if given the chance. 0550 and 0575 still running.

Regards,
  • #41,624
  • Mar 9, 2012 10:19am Mar 9, 2012 10:19am
Quoting lebleup
That looks like one big BEAR FLAG getting ready to roll.
care.. its friday and left with US session only.
  • #41,625
  • Mar 9, 2012 10:22am Mar 9, 2012 10:22am
Quoting lebleup
That looks like one big BEAR FLAG getting ready to roll.
Definitely. Just have to wait until price breaks that black trend line (Bear Flag), and then I would expect a drop to 1.05080 or lower.

It would petty cool if it dropped passed the 1.05080 Support area, then I can expect a nice Elliot Wave Formation (5-Wave-Pattern).
  • #41,626
  • Mar 9, 2012 10:41am Mar 9, 2012 10:41am
Quoting trader-tan
care.. its friday and left with US session only.
Absolutely use CARE. Anything is possible in this market...especially of late.
It's the simple things in life that have the most powerful meaning.
  • #41,627
  • Mar 9, 2012 10:50am Mar 9, 2012 10:50am
Quoting rustyram
Check the AUD 4H chart....

What if, AUD is waving in 12345, if that is the case, then this wave 4, should not go in to wave 1 territory, which comes at 1.0714.

For all you know, to confuse the hell out of us, some big name will push it up to wave 1 to 1.0722, and see how we little guys react....

Just a thought, even i am not sure, if the up move will stall or 1.0710 or 1.0722 or 1.0750.

To be on a safer side, i would enter at 1.0710 , and see just before NFP data out tomorrow where the price is and may be exit or be in the trade....

Good...
The above wave count is not correct.
The way AUD fell from 1.0670 still says the upmove is not yet done.

Previously i had a upmove target of 1.0710 but now it looks like it is headed to 1.0765

Once it reaches 1.0765, it should fall from there to 1.0400
This is my new price targets....

I am thinking, right now is a good place to go long for atleast 170 Pips target for 30 Pip risk...but again it is a weekend.... See you guys on Monday.
PPP - Patience Pays PIPS
  • #41,628
  • Mar 9, 2012 10:55am Mar 9, 2012 10:55am
IMO, it's up.
Use me as a contrarian indicator
  • #41,629
  • Mar 9, 2012 11:16am Mar 9, 2012 11:16am
who long the aussie
If there was easy money lying around,no one would be forcing it into your
  • #41,630
  • Mar 9, 2012 11:18am Mar 9, 2012 11:18am
Quoting rustyram
The above wave count is not correct.
The way AUD fell from 1.0670 still says the upmove is not yet done.

Previously i had a upmove target of 1.0710 but now it looks like it is headed to 1.0765

Once it reaches 1.0765, it should fall from there to 1.0400
This is my new price targets....

I am thinking, right now is a good place to go long for atleast 170 Pips target for 30 Pip risk...but again it is a weekend.... See you guys on Monday.
Graph to go with my previous prediction.
I was hesitant to take a long, because of the weekend...
Hell with the weekend, I am currently long at 1.0590 , SL 1.0560 , TP @1.0750

"EGKID" this analysis is dedicated to you...

Hope it works.....
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-4H-3-9.JPG Size: 52 KB
PPP - Patience Pays PIPS
  • #41,631
  • Mar 9, 2012 11:21am Mar 9, 2012 11:21am
Quoting rustyram
Graph to go with my previous prediction.
I was hesitant to take a long, because of the weekend...
Hell with the weekend, I am currently long at 1.0590 , SL 1.0560 , TP @1.0750

"EGKID" this analysis is dedicated to you...

Hope it works.....
100% agree
Use me as a contrarian indicator
  • #41,632
  • Mar 9, 2012 11:28am Mar 9, 2012 11:28am
Quoting rustyram
Graph to go with my previous prediction.
I was hesitant to take a long, because of the weekend...
Hell with the weekend, I am currently long at 1.0590 , SL 1.0560 , TP @1.0750

"EGKID" this analysis is dedicated to you...

Hope it works.....
Noted ya
Attached Image (click to enlarge)
Click to Enlarge Name: AUD.png Size: 98 KB
If there was easy money lying around,no one would be forcing it into your
  • #41,633
  • Mar 9, 2012 11:34am Mar 9, 2012 11:34am
Quoting mrbandwidth
100% agree
make that 200%!
  • #41,634
  • Mar 9, 2012 12:08pm Mar 9, 2012 12:08pm
I must say it is interesting that this pair didn't fall like other pairs. was hoping for a better result on the short. Which could indicate the bulls are still in for now.
  • #41,635
  • Mar 9, 2012 12:13pm Mar 9, 2012 12:13pm
Quoting rustyram
Graph to go with my previous prediction.
I was hesitant to take a long, because of the weekend...
Hell with the weekend, I am currently long at 1.0590 , SL 1.0560 , TP @1.0750

"EGKID" this analysis is dedicated to you...

Hope it works.....
Thanks so much bro , I appreciated
I don't trade AUD/U mostly
i see this on my 4h
If I'm allow to modify ur chart
I see this " W shape = sell pattern"
If that happen daily close under 1.05 don't think it will go up but more more down as wave 3 or c on daily
will b watching this
Attached Image (click to enlarge)
Click to Enlarge Name: AUDW.JPG Size: 47 KB

Wish happy weekend to all
  • #41,636
  • Mar 9, 2012 2:34pm Mar 9, 2012 2:34pm
Quoting rustyram
Graph to go with my previous prediction.
I was hesitant to take a long, because of the weekend...
Hell with the weekend, I am currently long at 1.0590 , SL 1.0560 , TP @1.0750

"EGKID" this analysis is dedicated to you...

Hope it works.....
This is why i hate fridays.... Moving my SL to 1.0530 last low that was well supported....
I should have put the SL at that price in first place, i just kept it too tight...

Good weekend everybody...Hope u gap open to upside on Sunday evening....
PPP - Patience Pays PIPS
  • #41,637
  • Mar 9, 2012 8:33pm Mar 9, 2012 8:33pm
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud_usd_m15_tape.jpg Size: 132 KB
Click to Enlarge Name: aud_usd_h1_tape.jpg Size: 97 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #41,638
  • Mar 10, 2012 10:30am Mar 10, 2012 10:30am
555 at xe.com
Use me as a contrarian indicator
  • #41,639
  • Mar 10, 2012 3:54pm Mar 10, 2012 3:54pm
Should gap down on Monday morning after this news out of China ;

http://online.wsj.com/article/SB1000...gle_wsj_gadgv1
  • #41,640
  • Mar 10, 2012 4:29pm Mar 10, 2012 4:29pm
Quoting Balmain Boy
Should gap down on Monday morning after this news out of China ;

http://online.wsj.com/article/SB1000...gle_wsj_gadgv1
how does this relate to AUD/USD
and should it go up instead?
In trading, you have to be defensive and aggressive at the same time
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