Aussie Trading Room and Cartoons Gallery
I think you may be disappointed even more than I thought - it seems that even 1.04 is not in the cards @@
Then again, After 1.0320 or 1.03 is reached, I do expect one last rally to 1.04 or perhaps even higher only to then drop like a rock after the elections.
Can you post your charts if you don't mind? I would like to see why you think this. Thanks
Okay. I see where you are coming from. However. That drop was simply a drop to complete a pivot point to the south. We are now in an upward pivot point since 5/19 actually. I expect this pivot point to be complete Possibly by the end of this year into early next year at the latest and then see a reversal back down to .9550. 1.0850 is the target to watch for. Plenty of pips to be made between now and then! IMO
.In that case, look at the weekly chart - from July 30, 2011. We are in the triangle formation - I expect the lower line of the triangle to be touched prior to reversal (if it reverses).
A breach of upper line suggests 1.10, rather than 1.08 - again, I expect a test of the lower line prior to any major upward movement (Actually, I expect the lower line to be breached at some point, but I wouldn't put my money on that - haha, that is, I would put my money below that line
A lot depends on the US elections. I anticipate major risk off rally...
I switch my charts to weekly and I see the same "Pivot Points". In fact, they're even more justified that it's going up to complete the pivot. I'm not familiar with the triangle method you are speaking of, perhaps it will go down, but long term she is headed up, all of the technical indicators say so. You should really post some charts so I can see what your talking about.
I've posted charts in the past - and erased them from my hard drive... hmm
You'd need to look at my post history to find them - sorry.
I do, but that would take time - doing what I've already done.
