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  • #61
  • Jul 19, 2012 10:38pm Jul 19, 2012 10:38pm
Quoting pauladkinsau
Am a relative newcomer to this site and this thread, have been watching from the sidelines. But that god-like Ben Bernanke prompted me to write. Great cartoon. Enjoying this thread much better than the previous one.

1H chart shows MACD and Bollinger both pointing south. Bollinger looks ready to pop soon.
Do you mind posting your chart to help others understand your point? Thanks. -DB-
daddybearforex. com
  • #62
  • Jul 19, 2012 10:38pm Jul 19, 2012 10:38pm
Quoting DaddyBear
Furthermore, when placing an imaginary mirror between two blue patterns, one can see a reversed reflection at current level. I see this image with my mind not with my eyes. This vision may be denounced by some people in A/U thread but not here. We are born free people in this thread not online slaves anymore!
I'm sorry DB, but sometimes its hard to understand what exactly you mean... Do you mean by mirror that the price will retrace significantly before going back up?

No offense intended, just want to understand what you want to say.

Thx
  • #63
  • Jul 19, 2012 10:39pm Jul 19, 2012 10:39pm
Looking forward to this thread!! Thanks so much for starting it DB
  • #64
  • Jul 19, 2012 10:44pm Jul 19, 2012 10:44pm
Quoting DaddyBear
one can see a reversed reflection at current level.
Interesting, so a reverse reflection of the red pattern might look something like this:
Attached Image
  • #65
  • Jul 19, 2012 10:50pm Jul 19, 2012 10:50pm
Quoting NYForexer
I'm sorry DB, but sometimes its hard to understand what exactly you mean... Do you mean by mirror that the price will retrace significantly before going back up?

No offense intended, just want to understand what you want to say.

Thx
Sorry, I should make it clear. The chart with the mirror was to reinforce first chart without mirror. I am not very sure about your criteria of 'the price will retrace significantly'. My point was that there is a retracement underway which may mirror the other red circle pattern at the other side of the mirror. Because this is an imaginary vision, it is not that easy to make it clear. -DB-
daddybearforex. com
  • #66
  • Jul 19, 2012 10:52pm Jul 19, 2012 10:52pm
Quoting Aldente
Interesting, so a reverse reflection of the red pattern might look something like this:
Attachment
Possible. But, I mentioned it is a reversed reflection. So, it may have to be the other way around. -IMHO-
p.s. your drawing is a reflection.
daddybearforex. com
  • #67
  • Jul 19, 2012 11:03pm Jul 19, 2012 11:03pm
Quoting irfandbl
Be careful as in, stay away to go long at them or the other way around? Well either way, this thing needs to go down so the bulls can get better entries
My point was that when everybody looking down the USD, it's time to buy the USD. -IMHO-
daddybearforex. com
  • #68
  • Jul 19, 2012 11:06pm Jul 19, 2012 11:06pm
Quoting Aldente
Interesting, so a reverse reflection of the red pattern might look something like this:
Attachment
Looking at the pattern you have circled, the price for reversal pattern in the red circle may go close to the 1.0260 level.
  • #69
  • Jul 19, 2012 11:07pm Jul 19, 2012 11:07pm
Mirror image most probably should be this (vertical+horizontal flip):

Attached Image


But I'd rather have just the vertical one ...

Attached Image
  • #70
  • Jul 19, 2012 11:09pm Jul 19, 2012 11:09pm
Quoting DaddyBear
Sorry, I should make it clear. The chart with the mirror was to reinforce first chart without mirror. I am not very sure about your criteria of 'the price will retrace significantly'. My point was that there is a retracement underway which may mirror the other red circle pattern at the other side of the mirror. Because this is an imaginary vision, it is not that easy to make it clear. -DB-
I see, very interesting concept. Thanks for the explanation.

But do you know of any fundamental news that would reinforce either of the directions at this moment? Or do you just trade off of charts?
  • #71
  • Jul 19, 2012 11:14pm Jul 19, 2012 11:14pm
Quoting doblece
Mirror image most probably should be this (vertical+horizontal flip):
Right, that would the one that would be most consistent with the mirrored blue patterns, unless I'm mistaken. The 2 blue patterns are mirror images, as are the 2 red. I'm not sure what a 'reverse mirror' image would look like.
  • #72
  • Jul 19, 2012 11:18pm Jul 19, 2012 11:18pm
Quoting payal
Looking at the pattern you have circled, the price for reversal pattern in the red circle may go close to the 1.0260 level.
I am looking at two levels (not targets). FIB 61.8 = 1.0233 and FIB 76.4 = 1.0183. Seems to me, the later has more weight of historic importance than the former. -IMHO-
daddybearforex. com
  • #73
  • Jul 19, 2012 11:20pm Jul 19, 2012 11:20pm
Quoting DaddyBear
Do you mind posting your chart to help others understand your point? Thanks. -DB-
Don't mind at all, just got to figure out how to do it.
  • #74
  • Jul 19, 2012 11:22pm Jul 19, 2012 11:22pm
Quoting NYForexer
I see, very interesting concept. Thanks for the explanation.

But do you know of any fundamental news that would reinforce either of the directions at this moment? Or do you just trade off of charts?
personally, I don't give too much weight to fundies which may only reinforce the identified patterns. I trade Forex with EW principle and ADX.
daddybearforex. com
  • #75
  • Jul 19, 2012 11:30pm Jul 19, 2012 11:30pm
Still another view ...

Attached Image (click to enlarge)
Click to Enlarge Name: audanotherview.gif Size: 17 KB


1.0220 strong support level IMO.
  • #76
  • Jul 19, 2012 11:33pm Jul 19, 2012 11:33pm
Quoting Aldente
Right, that would the one that would be most consistent with the mirrored blue patterns, unless I'm mistaken. The 2 blue patterns are mirror images, as are the 2 red. I'm not sure what a 'reverse mirror' image would look like.
O.K. Here is my answer to your question.
Attached Image (click to enlarge)
Click to Enlarge Name: MIROR.JPG Size: 53 KB
daddybearforex. com
  • #77
  • Jul 19, 2012 11:34pm Jul 19, 2012 11:34pm
reverse mirror?
Attached Image
  • #78
  • Jul 19, 2012 11:34pm Jul 19, 2012 11:34pm
BB is already opening out
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD1H.jpg Size: 460 KB
  • #79
  • Jul 19, 2012 11:39pm Jul 19, 2012 11:39pm
Quoting DaddyBear
O.K. Here is my answer to your question.
Lol! Ok that was one of your funniest cartoons yet
Attached Image
  • #80
  • Jul 19, 2012 11:40pm Jul 19, 2012 11:40pm
Quoting doblece
Still another view ...

Attachment

1.0220 strong support level IMO.
doblece, you are great because you are the first one who really read my mind. I saw the same thing like yours. Hope you don't mind that I borrowed your chart and added a little bit flavor to the current retracement with a tiny red pen.
Attached Image
daddybearforex. com
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