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Aussie Trading Room and Cartoons Gallery

  • #10,741
  • Oct 14, 2012 11:08am Oct 14, 2012 11:08am
Quoting DaddyBear
China's data was surprisingly good. I am wondering if it was real. The reason is that the data was too good to be true. It could be a window dressing before next month's CCP power transfer IMO.

So, the Aussie may gap up at the open. Will it last? Is it time to fade the gap? This will be answered tonight.
On the other hand, the downward pattern seems not complete yet. The daily short-term channel bottom has to be reached below 1.02. The short-term range top has been tested last week. Now may be it will test the bottom before bouncing back up.
daddybearforex. com
  • #10,742
  • Oct 14, 2012 11:16am Oct 14, 2012 11:16am
Quoting DaddyBear
On the other hand, the downward pattern seems not complete yet. The daily short-term channel bottom has to be reached below 1.02. The short-term range top has been tested last week. Now may be it will test the bottom before bouncing back up.
Seems to me, not many people are trading the Aussie recently. It could be due to the uncertainty of the pair. This coming week may provide more clues as to where this pair will be heading to.
daddybearforex. com
  • #10,743
  • Oct 14, 2012 11:32am Oct 14, 2012 11:32am
Current Rate: 297/367
daddybearforex. com
  • #10,744
  • Oct 14, 2012 11:59am Oct 14, 2012 11:59am
Daddy,

where do you check current price ?
Intraday only.
  • #10,745
  • Oct 14, 2012 12:01pm Oct 14, 2012 12:01pm
Quoting navk
Daddy,

where do you check current price ?
Two websites:
http://www.oanda.com/currency/live-exchange-rates/
http://www.xe.com/
daddybearforex. com
  • #10,746
  • Oct 14, 2012 12:02pm Oct 14, 2012 12:02pm
Quoting DaddyBear
Two websites:
http://www.oanda.com/currency/live-exchange-rates/
http://www.xe.com/
If there is a gap, it won't happen until 3 PM EST.
daddybearforex. com
  • #10,747
  • Oct 14, 2012 12:03pm Oct 14, 2012 12:03pm
These sites I know. But they really open just two hours before platform open.

Previously I used to see 24/7. Not nowadays.
Intraday only.
  • #10,748
  • Oct 14, 2012 12:04pm Oct 14, 2012 12:04pm
Quoting DaddyBear
If there is a gap, it won't happen until 3 PM EST.
Although I am bullish on the Aussie before the end of the year, a short-term retracement is needed to send the pair higher. It will also provide good entries for the bulls.
daddybearforex. com
  • #10,749
  • Oct 14, 2012 12:05pm Oct 14, 2012 12:05pm
Quoting navk
These sites I know. But they really open just two hours before platform open.

Previously I used to see 24/7. Not nowadays.
They are still real time rates but with big spreads.
daddybearforex. com
  • #10,750
  • Oct 14, 2012 12:07pm Oct 14, 2012 12:07pm
For the last 3 to 4 weeks, AUD/USD has been opening gaping down. Let us see what happens today.

I have a small short trade.
Intraday only.
  • #10,751
  • Oct 14, 2012 12:07pm Oct 14, 2012 12:07pm
Quoting navk
These sites I know. But they really open just two hours before platform open.

Previously I used to see 24/7. Not nowadays.
Oanda starts the trading on 3 PM EST.
daddybearforex. com
  • #10,752
  • Oct 14, 2012 12:10pm Oct 14, 2012 12:10pm
Quoting navk
For the last 3 to 4 weeks, AUD/USD has been opening gaping down. Let us see what happens today.

I have a small short trade.
Although China data provided some tailwind for the Aussie, I wonder if it is enough to send the Aussie higher at this point. There are too may bears around looking for sub-parity target.
daddybearforex. com
  • #10,753
  • Oct 14, 2012 12:11pm Oct 14, 2012 12:11pm
Now it is 1.08 PM here same as EST. Let us see what happens at 3.00 PM.

If it gaps up, I will close my small short and go long.

I have been seeing this way :

If it gaps up, after 5 min or so after open, the price comes down a bit ( not necessarily to close the gap ) then goes up.

Opposite for gap down.
Intraday only.
  • #10,754
  • Oct 14, 2012 12:12pm Oct 14, 2012 12:12pm
Quoting DaddyBear
Although China data provided some tailwind for the Aussie, I wonder if it is enough to send the Aussie higher at this point. There are too may bears around looking for sub-parity target.
At least I know there are more bears than bulls in our forum recently.
daddybearforex. com
  • #10,755
  • Oct 14, 2012 12:15pm Oct 14, 2012 12:15pm
Quoting navk
Now it is 1.08 PM here same as EST. Let us see what happens at 3.00 PM.

If it gaps up, I will close my small short and go long.

I have been seeing this way :

If it gaps up, after 5 min or so after open, the price comes down a bit ( not necessarily to close the gap ) then goes up.

Opposite for gap down.
It depends. Here is my view. Sometimes the gap-up could be the chance to fade it if it opens much higher. I would wait until it comes down to the area of previous low on Friday.
daddybearforex. com
  • #10,756
  • Oct 14, 2012 12:22pm Oct 14, 2012 12:22pm
China iron ore import at 20 (yeah 20 not 2) months high.
Commodities will blow up. That's a news not recent data.
CPI will be at low level. Forget about parity. Aussie in last 3 years was falling down 4 times. Always fast and masive move. Always not longer than 4 weeks ( it must be fast ucz of swaps) then recovery, faster or not but move will be up.
  • #10,757
  • Oct 14, 2012 1:03pm Oct 14, 2012 1:03pm
http://www.forexfactory.com/showthread.php?p=6096599#post6096599
Wooooohooooo or Boooooohooooo
  • #10,758
  • Oct 14, 2012 1:05pm Oct 14, 2012 1:05pm
Quoting DaddyBear
Mama, I am glad you are O.K.. What is your take of the Aussie's next move?
Another attempt to break the lows. Should it hold again this time, I definitely wonder if your scenario will indeed be the next step.
  • #10,759
  • Oct 14, 2012 2:07pm Oct 14, 2012 2:07pm
Opening up.

1.0248
Intraday only.
  • #10,760
  • Oct 14, 2012 3:00pm Oct 14, 2012 3:00pm
Quoting doblece
Another attempt to break the lows. Should it hold again this time, I definitely wonder if your scenario will indeed be the next step.
Mama, it gaps up about 20 pips. There is a probability the bears knock it down to previous low then the bulls come back to push up.

A retest of 1.108xx or lower cannot be ruled out at this point. May be your scenario comes first then mine occurs thereafter. IMO
daddybearforex. com
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