Aud/usd system analysis

GBP/USD

WEEKLY

Attached Image (click to enlarge)

Dan

GOLD

We need to get above 1661 in order to continue up to 1673. If we don't make it above 1661 then we look to 1664.Edit

AUD/USD

Needs to get above 1.0589 to go up to 1.0611 sub-barrier, then the Target 1 (1.0639), other targets up are our 138.2%, 150%, and full target 2 161.8% (1.0689, 1.0705, 1.0720) . Our support in the downswing is our 50%, 61.8 barrier and 78.6% barrier (1.0515, 1.0478, 1.0426).

Dan

Up to the 78.6% sub-barrier...now we watch 1.0611

Dan

AUD/USD

Now we watch 1.0639...

AUD/USD


Now we look to the larger 61.8% (1.0478)

Dan

GBP/USD

Dan

GOLD

Dan

AmyC, always good to see you!

Now we wait for the next move...

AUD/USD

Dan

*AUD/USD*
Target 1 (1.0360) hit.

Nice moves from the chart posted at the beginning of the week. Now we are at the 1.618, Target 1. Now we wait for the market to tell us where it is going, then we go with it to the next technical levels.




When we analyze we do so from the large time frame down to the small. When we are tracking price action we follow the small time frame swings until they have moved themselve outside of those small targets, then we jump to the next lerger working swing. I'll include some other AUD/USD Charts.








Dan

Today's trades, we will do the count later.

DOW

just as telling as the highs in an up move are the lows in an upmove. Let's take a look at where we are finding support. Looking in the Weekly chart first, you will see that we made it to our 150% sub-target (13223) by going as high as 13287.

After this point we retraced down to the 138.2% (13043) sub-target below. Remember, the market moves level by level. 13043 is our new area to watch, we want to keep our candle opens above this area to go back up to the 150% (13223) and the possibility of hitting the Full Target 1.618% (13404). If we get a candle open below 13043 we will look for the previous 100% (12833) target to hold. If this fails to hold we look to the current 100% (12459).

If we look in the 240 chart, we are in between the 78.6 (13066) Sub-Barrier and the 61.8 (13027) barrier of the up move. If we fall below the 61.8 we look to the 50% (12999)

Dan

GOLD

When we analyze, we do so from the large time frame down to the small. We do this because the large time frame levels are the most important and most be given the most respect. In the Monthly candle chart we notice that we hit our 150% (1917) sub-target. After doing so we started to go down stopping short of the 100% Target 1 (1505). This is a big level to hold, should it come down to this. Watch 1597 as well for support to hold or break. If we go down, it is done level by level...if we go up it is done level by level. Our full target is 2014.

Working the current downswing in the Weekly chart we are between 38.2% (1654) and 50% (1608). If we continue below the 50% we see if our 61.8% (1562) barrier will hold the move down.

Daily shows two current swing using dynamic fibs. One going up, one going down. Swing up, swing down...all timeframes are holding hands and working together always.

Working the current down move we look to see if 1637 (61.8%) will hold the move down, if not we head to the 100% Target 1 (1589). But we have to keep the 78.6 Sub-Target in our minds at 1616. Levels below 1589 are also included in the chart.

We analyze from the large time frame down to the small time frame, and we follow price action from the small time frame up to the large time frame. Here, we look at the 240 small time frame for movement. We notice that it is currently betweem the 78.6 (1644) % sub-barrier and the 61.8 (1661) barrier. If 1644 cannot hold we look to the Target 1/100% (1621).

Important areas of support are 1597, 1608, 1582, 1506

Dan

GBP/USD

Dan

EUR/AUD

Dan

EUR/CAD

Dan

AUD/USD

240

Dan