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  • #161
  • Jul 20, 2012 8:33am Jul 20, 2012 8:33am
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Sorry for the messy hair.
Just woke up and haven't had my coffee yet.
Maybe something can still be read between the lines.
  • #162
  • Jul 20, 2012 8:34am Jul 20, 2012 8:34am
Quoting petehnm
Good morning everyone....hey papa thanks again on the info about DMIP(blue line) DMIM(red line) .....I know you favor the higher time frames but last night I was playing around on the 5M chart and I notice that as long as DMIM stayed above DMIP we continued this small move down..so I took a short from 1.0422...my TP is 1.0264...gonna reverse it there cause Like you and others were suggesting this pair more than likely still has a chance to go up how far that's another story,that I believe can't be looked at till next...
sorry typo ...meant 1.0364....
  • #163
  • Jul 20, 2012 8:40am Jul 20, 2012 8:40am
Quoting KillerWhale
I posted a chart that pointed out the pull-back we have now, but no one was there to react because all the fools were here.

I'm 36 pip in gain with a big entry now.
Because that chart was worth a look.

But hey if you wanna spoil your time here, I won't try to stop you.
I know cartoons are way more important then trading .
so a reaction is what you want right? here's mine

  • #164
  • Jul 20, 2012 8:46am Jul 20, 2012 8:46am
Quoting DaddyBear
I see your point. We in the US do feel the pain of falling USD. Although higher Aussie is good for most consumers in Australia but it does hurt the exporters there. Correct me if I am wrong. -DB-
Yep, like the rest of the world, aussie consumers love their bigscreen TVs, iphones/ipads and new cars, mostly all imported - made in China. Our imports come in containers given they are mainly consumer goods. In contrast most of our exports are bulk goods - iron ore, coal and wheat. We end up shipping out empty containers......... boat loads of them!

We now have a two speed economy. If you are involved with the resources sector, things are booming even with the high AUD. If you are a farmer or a manufacturer, the high AUD is eroding their competitiveness as you correctly state. It is hollowing out our economy, mining/resources are attracting all the investment and highly paid jobs. We have become the world's quarry - with little or no value adding retained. How is it all going to end? Seems like other posters are writing the script already.
Audentes Fortuna Juvat
  • #165
  • Jul 20, 2012 8:46am Jul 20, 2012 8:46am
Quoting DaddyBear;
Market Watch - 072012 #2 - M15

Aussie did break LTL and move downwardly. The point of break indicated a more decisive move to the south. -IMHO-

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  • #166
  • Jul 20, 2012 9:31am Jul 20, 2012 9:31am
Quoting petehnm
to bad about the suspension...careful what you say to the senior members...anyway back to trading...have a long order in at 1.0364...but it doesn't seem to have the strength to get there...would be nice to end the week with green pips and a set up for next week... granted I realize that I have the green pips at the moment...just being greedy...
it's friday..things can go down to 0325 easy..imo
fokyou forexfactory
  • #167
  • Jul 20, 2012 9:39am Jul 20, 2012 9:39am
Quoting DNTme
it's friday..things can go down to 0325 easy..imo
I hear ya...I'm almost to my point ....maybe 1.0350 would be better...nah better quit being so greedy...I'll take 1.0364...
  • #168
  • Jul 20, 2012 9:41am Jul 20, 2012 9:41am
Quoting petehnm
I hear ya...I'm almost to my point ....maybe 1.0350 would be better...nah better quit being so greedy...I'll take 1.0364...
im square ..took second part for +66 pips.
and with euro +108 pips..that bring my day to an end.

GL all and see you monday.
fokyou forexfactory
  • #169
  • Jul 20, 2012 9:43am Jul 20, 2012 9:43am
Quoting DNTme
im square ..took second part for +66 pips.
and with euro +108 pips..that bring my day to an end.

GL all and see you monday.

Very nice...good job...have a great weekend...just need to hit my mark and I'm ready for the weekend myself...
  • #170
  • Jul 20, 2012 9:49am Jul 20, 2012 9:49am
hard to see 1.0325, hour 4 is, but its starting to slow down, eur is already on 1.2150 with some sort of tech support bids. if eur can stop plunging, aus may also stop moving down.

its a friday, we never know. i hope to see 1.0325 ofc. market looks dry now. maybe a short pull back and dip more! .

my final target lies 1.0250, maybe can be fulfilled next week.

eur 1.18???!!
  • #171
  • Jul 20, 2012 9:55am Jul 20, 2012 9:55am
well now the markets just teasing me ...2 pips away from my TP....
  • #172
  • Jul 20, 2012 10:08am Jul 20, 2012 10:08am
this is where I always get juked....my TP didn't get hit and it starts moving up in a relatively strong manner so I close my position and what does it do it usually goes right back down to my TP point...but not today..I'm holding for 1.0364...
  • #173
  • Jul 20, 2012 10:13am Jul 20, 2012 10:13am
by the way guys if your wondering why 1.0364..I just like this point on the 4hr chart ..take a look...


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  • #174
  • Jul 20, 2012 10:16am Jul 20, 2012 10:16am
Quoting DNTme;
what? why? by whom? ..

i dont know for sure..all i know DB its nice person..
  • #175
  • Jul 20, 2012 10:30am Jul 20, 2012 10:30am
A corrected view of the rising wedge shows still some room to the upside.

Price was rejected at the LTL, and we might go further to april 27 highs or even the round number 1.0500 before a wedge break and fall ... or a bullish continuation that would build an ascending channel.

As it's Friday I'd better await for next week's development. I closed my short at 1.0367 just in case. I think we might at least get a double top if weak.
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  • #176
  • Jul 20, 2012 10:35am Jul 20, 2012 10:35am
Quoting doblece
A corrected view of the rising wedge shows still some room to the upside.

Price was rejected at the LTL, and we might go further to april 27 highs or even the round number 1.0500 before a wedge break and fall ... or a bullish continuation that would build an ascending channel.

As it's Friday I'd better await for next week's development.
i totally agree with you ..that's why at the moment it sucks that my TP point wasn't hit cause I also have a buy order at that point...I agree about the retrace to the 1.05 level.. that's why I want in at 1.0364
  • #177
  • Jul 20, 2012 10:36am Jul 20, 2012 10:36am
well gotta go to the JOB...good luck the rest of the day everyone..and last but not least...BRING PAPA BACK........
  • #178
  • Jul 20, 2012 10:48am Jul 20, 2012 10:48am
Quoting petehnm
i totally agree with you ..that's why at the moment it sucks that my TP point wasn't hit cause I also have a buy order at that point...I agree about the retrace to the 1.05 level.. that's why I want in at 1.0364
Hope it makes a quick drop and you get both your TP and entry
But anyway beware if the wedge is clearly broken.

Both upward swing legs have a length of about 210 pips.
Should this pattern repeat, we would be talking of 1.0570ish, which is also the 161.8 extension of this last swing high ...

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... but ... we have a channel ... that's why I'm targeting 1.0200.
  • #179
  • Jul 20, 2012 10:57am Jul 20, 2012 10:57am
Quoting doblece;
Should this pattern repeat, we would be talking of 1.0570ish, which is also the 161.8 extension of this last swing high ...
1.0498-1.0570-1.0620 lets wait next week..

have a nice weekend for all
  • #180
  • Edited 11:41am Jul 20, 2012 11:13am | Edited 11:41am
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