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Aussie Trading Room and Cartoons Gallery

  • #601
  • Jul 23, 2012 6:34pm Jul 23, 2012 6:34pm
Quoting petehnm
I put fib on chart from 6/4/12 at 09626 up to 7/19/12 at 1.0443 and the .0.618 retrace is at 1.0131...was thinking1.0120 would be a good long entry...and I'll admit that greed has a bit to do with it to..to be honest... daily TF
O.K. I see your point now. You are looking for a full retracement, but the pattern says otherwise. There are more factors to look into besides FIB 0.618.
daddybearforex. com
  • #602
  • Jul 23, 2012 6:36pm Jul 23, 2012 6:36pm
Quoting doblece
Ditto.
And green pastures
I can see a huge green pasture ahead for the bulls.
daddybearforex. com
  • #603
  • Jul 23, 2012 6:47pm Jul 23, 2012 6:47pm
I anticipate a good size drop from this level. -IMHO-

(Note: this is only my point of view and in no way a trading recommendation.)
daddybearforex. com
  • #604
  • Jul 23, 2012 6:48pm Jul 23, 2012 6:48pm
Correction still in play IMO. Right ear reached.
Left ear moved to reflect probable time (around London open).

Unless major events on China news.

Attached Image (click to enlarge)
Click to Enlarge Name: retracement2.gif Size: 20 KB
  • #605
  • Jul 23, 2012 7:11pm Jul 23, 2012 7:11pm
Quoting DaddyBear
I anticipate a good size drop from this level. -IMHO-

(Note: this is only my point of view and in no way a trading recommendation.)
This anticipation is still valid and to be seen sooner than later.
daddybearforex. com
  • #606
  • Jul 23, 2012 9:13pm Jul 23, 2012 9:13pm
Quoting DaddyBear
This anticipation is still valid and to be seen sooner than later.
If my chart reading is correct then Aussie is going to drop after China news. -IMHO-
daddybearforex. com
  • #607
  • Jul 23, 2012 9:17pm Jul 23, 2012 9:17pm
Quoting DaddyBear
Due to this event, the arriving time at my red bear's tail has to be updated. The new time zone is around 2:30 AM EST, July 24, 2012.
Based on earlier analysis and current TL. the projected time zone is around 3:00 AM EST, July 24, 2012.

(Note: this is only my point of view and in no way a trading recommendation.)
daddybearforex. com
  • #608
  • Jul 23, 2012 9:19pm Jul 23, 2012 9:19pm
Quoting DaddyBear
Based on earlier analysis and current TL. the projection time zone is around 3:00 AM EST, July 24, 2012.

(Note: this is only my point of view and in no way a trading recommendation.)
Hi DB,

Are you referring to the HSBC PMI news?

RT
Some people say I'm lucky, but the more I practice the luckier I get
  • #609
  • Jul 23, 2012 9:20pm Jul 23, 2012 9:20pm
Are we going to see the "railroad tracks" that were projected earlier or will it be more of a straight down move?
  • #610
  • Jul 23, 2012 9:21pm Jul 23, 2012 9:21pm
Quoting Robot Trader
Hi DB,

Are you referring to the HSBC PMI news?

RT
HSBC PMI news is related to the previous post regarding the drop of Aussie after the news.
daddybearforex. com
  • #611
  • Jul 23, 2012 9:25pm Jul 23, 2012 9:25pm
Quoting mattheweston
Are we going to see the "railroad tracks" that were projected earlier or will it be more of a straight down move?
My view about current retracement is that we are at final stage of railway switch. When the switch is over, Aussie shall be on another railway (TL) going northbound. -IMHO-

(Note: this is only my point of view and in no way a trading recommendation.)
daddybearforex. com
  • #612
  • Jul 23, 2012 9:25pm Jul 23, 2012 9:25pm
Quoting DaddyBear
O.K. I see your point now. You are looking for a full retracement, but the pattern says otherwise. There are more factors to look into besides FIB 0.618.
you'll have to excuse my simple analysts papa...I'm still in the rookie stage of understanding the other factors....which I'm not to sure if I even know what they are..but as I said before I look forward to picking the brains and knowledge of the individuals here that are willing to share...likewise if I can help I'm more than willing to do so...
  • #613
  • Jul 23, 2012 9:35pm Jul 23, 2012 9:35pm
now we wait for for RBA to speak...
  • #614
  • Jul 23, 2012 9:37pm Jul 23, 2012 9:37pm
Well I've left the movie...it' is over right papa..??
  • #615
  • Jul 23, 2012 9:37pm Jul 23, 2012 9:37pm
How wrong I was. 49.5 sent the Aussie up, at least initially. I haven't seen the full HSBC report yet, but I sense that a number that is better than last month, but still marginally below the magical 50 break-even point (above 50 is growth), means that there is less need for government intervention in the economy.

Still it's just one data point, and one which China's communist leaders don't even follow.
  • #616
  • Jul 23, 2012 9:39pm Jul 23, 2012 9:39pm
wait till the dust settles , hold on to your portable toilet
  • #617
  • Jul 23, 2012 9:42pm Jul 23, 2012 9:42pm
Quoting petehnm
Well I've left the movie...it' is over right papa..??
The movie is not finished yet. I am still sitting in the theater.
daddybearforex. com
  • #618
  • Jul 23, 2012 9:43pm Jul 23, 2012 9:43pm
Quoting petehnm
Well I've left the movie...it' is over right papa..??
It may be a spike up to take out a few SL's before a further down move
Some people say I'm lucky, but the more I practice the luckier I get
  • #619
  • Jul 23, 2012 9:45pm Jul 23, 2012 9:45pm
certainly the bulls that left the movie yesterday haven't come back
  • #620
  • Jul 23, 2012 9:46pm Jul 23, 2012 9:46pm
Quoting DaddyBear
The movie is not finished yet. I am still sitting in the theater.
see what I mean papa rookie move..I got out...granted I made green pips... well let's see if the RBA moves it up just some more so I can get back in for a short....I wouldn't mind getting back in where I was at to begin with 1.0308...
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