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AUD/USD

  • #41,781
  • Mar 13, 2012 5:07am Mar 13, 2012 5:07am
Quoting Muntu
Seen Xauusd, Sir?
Aha got it
daily 89.5 strong
  • #41,782
  • Mar 13, 2012 7:09am Mar 13, 2012 7:09am
Bear flag in M1 TF
  • #41,783
  • Mar 13, 2012 7:50am Mar 13, 2012 7:50am
Quoting aqeelaputra

Attachment
  • #41,784
  • Mar 13, 2012 9:06am Mar 13, 2012 9:06am
North?
Use me as a contrarian indicator
  • #41,785
  • Mar 13, 2012 9:49am Mar 13, 2012 9:49am
I think we have a double top on the 15 min TF and are looking at heading south. This also coincides with the 50% fib retracement from the high at 1.547 and the low at 1.0485. By my count we are starting a southbound wave 3.

However, I could be wrong. =)

Short @ 1.0514
TP @ ~1.0485

EDIT: my Fib calculations

50.0% 1.0516
61.8% 1.0523
76.3% 1.0532
  • #41,786
  • Mar 13, 2012 10:19am Mar 13, 2012 10:19am
Quoting mattheweston
I think we have a double top on the 15 min TF and are looking at heading south. This also coincides with the 50% fib retracement from the high at 1.547 and the low at 1.0485. By my count we are starting a southbound wave 3.

However, I could be wrong. =)

Short @ 1.0514
TP @ ~1.0485

EDIT: my Fib calculations

50.0% 1.0516
61.8% 1.0523
76.3% 1.0532
Doesn't a double bottom usually form as a bullish reversal pattern after a down move
  • #41,787
  • Mar 13, 2012 10:44am Mar 13, 2012 10:44am
Few bears getting stop out now i think.
  • #41,788
  • Mar 13, 2012 10:46am Mar 13, 2012 10:46am
I really missed that one. Oh well. There's always another trade.
  • #41,789
  • Mar 13, 2012 10:47am Mar 13, 2012 10:47am
Quoting RBlackburn
Doesn't a double bottom usually form as a bullish reversal pattern after a down move
Yes and apparently I missed the double bottom.
  • #41,790
  • Mar 13, 2012 10:51am Mar 13, 2012 10:51am
I don't see any double top, just a double bottom on the hourly chart at best plus there's bullish divergence on the h4, wouldn't go short until at least 1.0470 is broken and retested. This level also happens to be the fib 38 retracement of the uptrend on h4/daily
  • #41,791
  • Mar 13, 2012 10:58am Mar 13, 2012 10:58am
Hi Jayjb

I am a demo trader. I like the level of thought you put into your analysis. I am aspiring to be a technical trader. I currently follow you and two other persons.

My medium term outlook on this pair is short. However the 1H and 4H momentum is to the upside. I am waiting for overbought conditions at key resistance to go short.

Happy trading
The weak fall by the wayside.
  • #41,792
  • Mar 13, 2012 10:59am Mar 13, 2012 10:59am
Quoting mattheweston
Yes and apparently I missed the double bottom.
Lol oh well next time. A break & test of 1.0560 may get you in for a long instead. Or i've got a daily pivot of 1.0520. Good luck.
  • #41,793
  • Mar 13, 2012 1:53pm Mar 13, 2012 1:53pm
Dollar on the rise based on strength and Ron Paul will win the republican nomination .. NOT!!!!!!!!!!!
100 Pips per day can keep the bosses away.
  • #41,794
  • Mar 13, 2012 2:34pm Mar 13, 2012 2:34pm
Looking on H8 price stalling at 1.05 to go lower, going side ways maybe the beginnings of a short term reversal here...
  • #41,795
  • Mar 13, 2012 2:42pm Mar 13, 2012 2:42pm
Quoting Zeroh
Looking on H8 price stalling at 1.05 to go lower, going side ways maybe the beginnings of a short term reversal here...
Forex Gods, throw me a bone....
100 Pips per day can keep the bosses away.
  • #41,796
  • Mar 13, 2012 2:44pm Mar 13, 2012 2:44pm
Quoting RBlackburn
Lol oh well next time. A break & test of 1.0560 may get you in for a long instead. Or i've got a daily pivot of 1.0520. Good luck.
Yeah i agree a break of 0560 going to be a good sign of temporary reversal.
Its also yesterdays high.
  • #41,797
  • Mar 13, 2012 2:48pm Mar 13, 2012 2:48pm
Quoting e585009
Forex Gods, throw me a bone....
lets hope so i covered the rest of my shorts yesterday and now have a small long @ 1.05 to be honest i dont have much faith in a big rally but chances are this thing can go up to least 1.06 and make a small profit before signal to short...again.
  • #41,798
  • Edited 8:21pm Mar 13, 2012 3:01pm | Edited 8:21pm
INTRA-DAY UPDATE

The AUD/USD-1H pair is currently trading sideways within the range of the previous days bearish candle. Its been supported at 1.05 round number with resistance at tje 1.055X level - the london open.

I will wait for price to break free of the previous days trading range before considering a short trade if the opportunity presents itself.
The weak fall by the wayside.
  • #41,799
  • Mar 13, 2012 3:59pm Mar 13, 2012 3:59pm
gold is falling
DJ closes above 13,000
and aud doesn't know who to follow!
  • #41,800
  • Mar 13, 2012 4:31pm Mar 13, 2012 4:31pm
Quoting Fogtrader
gold is falling
DJ closes above 13,000
and aud doesn't know who to follow!
Haha yeah it's confused in the middle right now. In a pretty tight range, 1.055 containing at the moment. partially closed my longs at 1.0554

I do however favour a break to the upside soon
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