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Aussie Trading Room and Cartoons Gallery

  • #11,461
  • Oct 24, 2012 2:28pm Oct 24, 2012 2:28pm
By the way, I'm now a bit more confident about this not being a bull trap - saw previous breaches, an hourly candle after the breach often moves lower prior to recovery.

If this was another currency like CAD, for example, I wouldn't be as confident, since there fakeouts are extremely common.
  • #11,462
  • Oct 24, 2012 2:29pm Oct 24, 2012 2:29pm
Now a shooting star is forming in H4.
daddybearforex. com
  • #11,463
  • Oct 24, 2012 2:31pm Oct 24, 2012 2:31pm
Quoting DaddyBear
Now a shooting star is forming in H4.
I have a feeling that bears will be disappointed - but fear not, 1.04 should hold bulls - according to the head and shoulders scenario.
  • #11,464
  • Oct 24, 2012 2:32pm Oct 24, 2012 2:32pm
Quoting maximmm
I have a feeling that bears will be disappointed - but fear not, 1.04 should hold bulls - according to the head and shoulders scenario.
May be you will see an one-arm man with one shoulder only .
daddybearforex. com
  • #11,465
  • Oct 24, 2012 2:36pm Oct 24, 2012 2:36pm
This scenario has been playing for one hour already. It's time to "cut". This screenplay is graded "F".
Attached Image (click to enlarge)
Click to Enlarge Name: AVATAR-L.JPG Size: 54 KB
daddybearforex. com
  • #11,466
  • Oct 24, 2012 2:36pm Oct 24, 2012 2:36pm
Quoting DaddyBear
May be you will see an one-arm man with one shoulder only .
haha - or the second arm will be pointing down?!^^
  • #11,467
  • Oct 24, 2012 2:42pm Oct 24, 2012 2:42pm
This is the movie currently playing at the Aussie Trading Room.
Attached Image (click to enlarge)
Click to Enlarge Name: MOVIE.JPG Size: 72 KB
daddybearforex. com
  • #11,468
  • Oct 24, 2012 2:43pm Oct 24, 2012 2:43pm
Quoting maximmm
haha - or the second arm will be pointing down?!^^
The second arm is on the floor.
daddybearforex. com
  • #11,469
  • Oct 24, 2012 3:46pm Oct 24, 2012 3:46pm
The arm.... is not falling
  • #11,470
  • Oct 24, 2012 5:23pm Oct 24, 2012 5:23pm
Euro has broken the trendline - has not yet gone up, but it will - same applies to Aud -

1.04 is next and if that holds, 1.03 could follow - only to bounce at that level and finally breach 1.04 and reach 1.06 prior to major fall.
  • #11,471
  • Oct 24, 2012 9:40pm Oct 24, 2012 9:40pm
Quoting maximmm
Euro has broken the trendline - has not yet gone up, but it will - same applies to Aud -

1.04 is next and if that holds, 1.03 could follow - only to bounce at that level and finally breach 1.04 and reach 1.06 prior to major fall.
Cannot see a H/S pattern.
daddybearforex. com
  • #11,472
  • Oct 24, 2012 9:50pm Oct 24, 2012 9:50pm
Mama and someone mentioned the Aussie is going to sub-parity not long ago. I did not take their opinions seriously. Now I redraw the daily trend line. My view is that they might be right on the money. 0.9806 is a probable target. It may be reached in the near future.

Although nothing is safe in the Forex market, I feel it's safer to be a friend of the Bear now. The downside risk is more than the upside at this point. IMO
daddybearforex. com
  • #11,473
  • Oct 24, 2012 9:52pm Oct 24, 2012 9:52pm
can you post chart for me please daddy
im at office



Quoting DaddyBear
Mama and someone mentioned the Aussie is going to sub-parity not long ago. I did not take their opinions seriously. Now I redraw the daily trend line. My view is that they might be right on the money. 0.9806 is a probable target. It may be reached in the near future.

Although nothing is safe in the Forex market, I feel it's safer to be a friend of the Bear now. The downside risk is more than the upside at this point. IMO
  • #11,474
  • Oct 24, 2012 10:04pm Oct 24, 2012 10:04pm
Quoting DaddyBear
Mama and someone mentioned the Aussie is going to sub-parity not long ago. I did not take their opinions seriously. Now I redraw the daily trend line. My view is that they might be right on the money. 0.9806 is a probable target. It may be reached in the near future.

Although nothing is safe in the Forex market, I feel it's safer to be a friend of the Bear now. The downside risk is more than the upside at this point. IMO
Actually, I agree with that projection 100%. After Aud reaches 1.06, it will plummet quite heavily to 0.98.
  • #11,475
  • Oct 24, 2012 10:06pm Oct 24, 2012 10:06pm
Quoting DaddyBear
Cannot see a H/S pattern.
It's in the process of forming - you'll see it after aud touches 1.03

4 hour chart
  • #11,476
  • Oct 24, 2012 10:09pm Oct 24, 2012 10:09pm
Quoting HelloOz
can you post chart for me please daddy
im at office
Here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-102412-D.JPG Size: 202 KB
daddybearforex. com
  • #11,477
  • Oct 24, 2012 10:11pm Oct 24, 2012 10:11pm
Quoting maximmm
Actually, I agree with that projection 100%. After Aud reaches 1.06, it will plummet quite heavily to 0.98.
I think it is going to be the other way around.
daddybearforex. com
  • #11,478
  • Oct 24, 2012 10:14pm Oct 24, 2012 10:14pm
Quoting maximmm
It's in the process of forming - you'll see it after aud touches 1.03

4 hour chart
In order to form an ambiguous H/S, the right shoulder has to reach 1.0260x not 1.03.
daddybearforex. com
  • #11,479
  • Oct 24, 2012 10:17pm Oct 24, 2012 10:17pm
Quoting DaddyBear
In order to form an ambiguous H/S, the right shoulder has to reach 1.0260x not 1.03.
I understand you are talking about a reversed H/S. But the one I see is a regular H/S.

When the neck line and the right shoulder meet, the Aussie will be rolling over to the sub-parity from that intersection. IMO
daddybearforex. com
  • #11,480
  • Oct 24, 2012 10:26pm Oct 24, 2012 10:26pm
Quoting DaddyBear
I understand you are talking about a reversed H/S. But the one I see is a regular H/S.

When the neck line and the right shoulder meet, the Aussie will be rolling over to the sub-parity from that intersection. IMO
In fact, the three peaks are all done now. This H/S neck line matches EWP wave count.
Attached Image
daddybearforex. com
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