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  • #3,501
  • Aug 2, 2012 5:54pm Aug 2, 2012 5:54pm
Quoting palabara
Trend line.. I scouted at 11 Am Est.. has been bouncing off it.

Attachment
I see the support mentioned last night @ 1.0445.
daddybearforex. com
  • #3,502
  • Aug 2, 2012 5:56pm Aug 2, 2012 5:56pm
Quoting djambazov84
my zen watch for the time being, subject to change every second as we all know
Welcome aboard, djambazov84. You will be a great contributor to this forum. -DB-
daddybearforex. com
  • #3,503
  • Aug 2, 2012 5:57pm Aug 2, 2012 5:57pm
Quoting palabara
Welcome, ad3trade.

I'd say its bearish if.. the support is broken and closed BELOW the support. Then I'd rule it as bearish. My system indicators, sent out an initial buy for the 30M time frame.. but trend is not up yet, and market sentiment is still bearish, but its bouncing of the trendline.. and I believe, it will make it up to the 1.0470ish resistance.
that's one nice analysis, the bull pinbar sure look convincing, but i'll wait for signal in this pscyh lv..

Attached Image (click to enlarge)
Click to Enlarge Name: aussie h1.PNG Size: 19 KB


happy profit..
  • #3,504
  • Aug 2, 2012 6:04pm Aug 2, 2012 6:04pm
Quoting ad3trade
yupz, the pin seems to rejecting 1.0450 pscyh lv too, but shooting star spotted at the daily chart, so i think i'll wait for a bearish signal..
Welcome, ad3trade! Have a nice trading day in Indonesia.
daddybearforex. com
  • #3,505
  • Aug 2, 2012 6:10pm Aug 2, 2012 6:10pm
Quoting DaddyBear
Welcome, ad3trade! Have a nice trading day in Indonesia.
Thanks Daddy bear, to be honest, aud/usd n nzd/usd has been my fav pair, so it's very nice to found this thread..
  • #3,506
  • Aug 2, 2012 6:19pm Aug 2, 2012 6:19pm
Quoting palabara
Welcome, ad3trade.
Is your wife O.K.?
daddybearforex. com
  • #3,507
  • Aug 2, 2012 6:20pm Aug 2, 2012 6:20pm
Quoting DaddyBear
Anyone has any ideas about tonight's Chinese news?
Good morning Papa. Only news I know of out of China today will be the HSBC services PMI. Not a number to get excited about from an FX point of view.

Nice to see all those green pips this morning. Will wait to Asia opens, see if 1.0450 holds or not before closing.
  • #3,508
  • Aug 2, 2012 6:25pm Aug 2, 2012 6:25pm
Quoting pauladkinsau
Good morning Papa. Only news I know of out of China today will be the HSBC services PMI. Not a number to get excited about from an FX point of view.

Nice to see all those green pips this morning. Will wait to Asia opens, see if 1.0450 holds or not before closing.
anything to get the market moving! I have 50 pips to make up lol
Good luck and may the odds be ever in your favor!
  • #3,509
  • Aug 2, 2012 6:44pm Aug 2, 2012 6:44pm
Quoting dbutton1990
anything to get the market moving! I have 50 pips to make up lol
You wont get it from the Services PMI. It's likely to come in slightly benign, but it won't cause China to suddenly rush out and buy lots of Australian coal or iron ore, and push up the AUD.

In fact, from a fundamental point of view, I think there's lots more bad news to come. Read Liam Denning's piece on the back of today's WSJ. Or John Foley's piece in Reuters Breaking Views.

One coal trader told me earlier this week that they have run out of storage space at the coal depots at China's main ports. And there's a year's supply of finished steel sitting around unsold here. My company just finished a study of the China aluminium market, and it's the same story. 25% of the plants are operating at a loss right now.

There's a lot of smoke and mirrors about China's official data, but once it hits home that China is in much worse condition than reported, the Aussie is set to drop seriously. (Note, both Rio Tinto and BHP Billiton are cutting back, reducing staff numbers, closing offices, deferring capital programs. A sure sign.)
  • #3,510
  • Aug 2, 2012 7:01pm Aug 2, 2012 7:01pm
Quoting DaddyBear
Is your wife O.K.?
Yeah, thank you for asking. I feel bad.. That I'm leaving tomorrow.. and won't be here for the funeral. I can't get out of it though, his not my immediate family, and my orders are already set for me to do support for 2 weeks.

Everyone is flying in from all over.. It's an awful situation. Not crystal clear on the details, but he ended up in the other lane and hit a car head on and the air bags never went off.

Just unbelievable.. you know, never expect it.
There are those who know, and there are those who don't know.
  • #3,511
  • Aug 2, 2012 7:03pm Aug 2, 2012 7:03pm
Quoting pauladkinsau
You wont get it from the Services PMI. It's likely to come in slightly benign, but it won't cause China to suddenly rush out and buy lots of Australian coal or iron ore, and push up the AUD.

In fact, from a fundamental point of view, I think there's lots more bad news to come. Read Liam Denning's piece on the back of today's WSJ. Or John Foley's piece in Reuters Breaking Views.

One coal trader told me earlier this week that they have run out of storage space at the coal depots at China's main ports. And there's a year's supply of finished...
Interesting research
There are those who know, and there are those who don't know.
  • #3,512
  • Aug 2, 2012 7:19pm Aug 2, 2012 7:19pm
DB has your watch moved at all?
Good luck and may the odds be ever in your favor!
  • #3,513
  • Aug 2, 2012 7:24pm Aug 2, 2012 7:24pm
Great progress DaddyBear, I was away from ForexFactory for not long now and I return to see you build an empire by yourself, I enjoy your cartoons I must say, good to see you have started this so active thread, keep the good work and regards!
  • #3,514
  • Aug 2, 2012 7:26pm Aug 2, 2012 7:26pm
FYI...

Traders report fairly large amounts of AUD/USD changing hands this morning
Hedge funds are selling AUD/USD while Tokyo names are selling AUD/JPY
Talk of AUD/JPY stops below 81.50 support coming into focus
AUD/USD buyers between 1.0435/40 with stops eyed below 1.0430 @thomsonreuters
  • #3,515
  • Aug 2, 2012 7:27pm Aug 2, 2012 7:27pm
Quoting Eric D
Great progress DaddyBear, I was away from ForexFactory for not long now and I return to see you build an empire by yourself, I enjoy your cartoons I must say, good to see you have started this so active thread, keep the good work and regards!
Welcome Eric. Haven't heard from you for a while. Please come to post your great charts as often as you like. -DB-
daddybearforex. com
  • #3,516
  • Aug 2, 2012 7:30pm Aug 2, 2012 7:30pm
good evening everyone...I see that the market has stalled ever since super Mario couldn't follow through with his big talks last week...had a small long at 1.0460 earlier today but I dumped it at BE...now just waiting to see any kind of sign of life one way or the other... when I had my long going I was thinking maybe we could get back up to the 1.0540 area some time before tomorrows NFP....now I'm thinking that reality has finally sunk into the market and we could be seeing the beginning of a reversal...just a thought...
  • #3,517
  • Aug 2, 2012 7:32pm Aug 2, 2012 7:32pm
Quoting dbutton1990
DB has your watch moved at all?
I guess you misread my old ZEN watch. I'd show you one more time here.

Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.
Attached Image
daddybearforex. com
  • #3,518
  • Edited 7:52pm Aug 2, 2012 7:41pm | Edited 7:52pm
Quoting DaddyBear
I guess you misread my old ZEN watch. I'd show you one more time here.

Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.
Daily formed a red shooting star. I don't consider this bearish. Instead I feel bullish (daily) about this candle due to the composition of candles this week. IMHO
daddybearforex. com
  • #3,519
  • Aug 2, 2012 7:53pm Aug 2, 2012 7:53pm
Quoting DaddyBear
Daily formed a red shooting star. I don't consider this bearish. Instead I feel bullish (daily) about this candle due to the composition of candles this week. IMHO
However, H1 is bearish now.
daddybearforex. com
  • #3,520
  • Aug 2, 2012 8:02pm Aug 2, 2012 8:02pm
Quoting DaddyBear
Daily formed a red shooting star. I don't consider this bearish. Instead I feel bullish (daily) about this candle due to the composition of candles this week. IMHO
Candle indication is like sooooo 60's.
There are those who know, and there are those who don't know.
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