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AUD/USD

  • #56,221
  • Nov 12, 2012 3:56am Nov 12, 2012 3:56am
Quoting 100PipsADay
GnarlyPips,

What is this chart showing you at this time. I'm not familiar with this type of chart/pattern...

Well, there isn't a pattern or any set rules that you can find on the net. I start with what I think make logical points for a circle, then divide that circle up into quadrants, then divide those quadrants. (In this chart, I've use the top two quadrants in either circle to be divided, rather than the individual quadrant.) The lines that divide up the quadrants intersect with the circle, so I draw a line from a point that makes the circle through the intersection.

(Not all quadrants are drawn on the chart.)

It's interesting to note where the first quadrant of the smaller circle is at concerning the larger circle. The first quadrant of any circle is where projections take place. The second quadrant is what the first quadrant is based off of.

Hope this makes sense.
Play the players, not the cards.
  • #56,222
  • Nov 12, 2012 4:01am Nov 12, 2012 4:01am
Quoting GnarlyPips
Well, there isn't a pattern or any set rules that you can find on the net. I start with what I think make logical points for a circle, then divide that circle up into quadrants, then divide those quadrants. (In this chart, I've use the top two quadrants in either circle to be divided, rather than the individual quadrant.) The lines that divide up the quadrants intersect with the circle, so I draw a line from a point that makes the circle through the intersection.

(Not all quadrants are drawn on the chart.)

It's interesting to note where the...
This is too complex for me... LOL

Thanks for sharing though GnarlyPips!
  • #56,223
  • Nov 12, 2012 4:06am Nov 12, 2012 4:06am
Quoting 100PipsADay
This is too complex for me... LOL

Thanks for sharing though GnarlyPips!
Ha, I think it would be easier to show you, instead of tell you. Though, that would take work that I don't feel like doing.

However, concerning the chart, if you look at the upward trend line that price is currently on, and the two downward trend lines that intersect the upward line, you'll find that price is divided exactly in half. (The bottom upward line.) I feel that a surge of momentum is going to occur within the week based off these observations.
Play the players, not the cards.
  • #56,224
  • Nov 12, 2012 4:11am Nov 12, 2012 4:11am
Quoting GnarlyPips
Ha, I think it would be easier to show you, instead of tell you. Though, that would take work that I don't feel like doing.

However, concerning the chart, if you look at the upward trend line that price is currently on, and the two downward trend lines that intersect the upward line, you'll find that price is divided exactly in half. (The bottom upward line.) I feel that a surge of momentum is going to occur within the week based off these observations.
LOL

When you say "surge of momentum" you are projecting bullish or bearish momentum? By the way, thanks for clarifying.
  • #56,225
  • Nov 12, 2012 4:20am Nov 12, 2012 4:20am
Quoting 100PipsADay
LOL

When you say "surge of momentum" you are projecting bullish or bearish momentum? By the way, thanks for clarifying.
Based on the lines, the smaller circle has produced a downward trend that may be revisited, or price will break upward out of the circle. One could have orders set in either direction, or take their own thoughts into accord.

However, I'm personally short. I have a stop set where I believe an upward breakout would take place. For profit, there's a few areas based on S/D that I've posted in the past.
Play the players, not the cards.
  • #56,226
  • Nov 12, 2012 4:20am Nov 12, 2012 4:20am
Looks like AUD/USD is getting its surge of momentum now...

I want to see 1.058 by the end of the week!
  • #56,227
  • Nov 12, 2012 4:24am Nov 12, 2012 4:24am
Quoting GnarlyPips
Based on the lines, the smaller circle has produced a downward trend that may be revisited, or price will break upward out of the circle. One could have orders set in either direction, or take their own thoughts into accord.

However, I'm personally short. I have a stop set where I believe an upward breakout would take place. For profit, there's a few areas based on S/D that I've posted in the past.
Looking at your chart am I right when saying the "upward breakout" price is around 1.045?
  • #56,228
  • Nov 12, 2012 4:31am Nov 12, 2012 4:31am
Quoting 100PipsADay
Looking at your chart am I right when saying the "upward breakout" price is around 1.045?
Nice! There is an obstacle for the momentum if it breaks upward, and that's around 1.047. Though, this is based off the 4h and 1h and S/D.
Play the players, not the cards.
  • #56,229
  • Nov 12, 2012 4:35am Nov 12, 2012 4:35am
Quoting 100PipsADay
Looks like AUD/USD is getting its surge of momentum now...

I want to see 1.058 by the end of the week!


we are going to scare out these gloomy shorts on tl break
  • #56,230
  • Nov 12, 2012 4:46am Nov 12, 2012 4:46am
Quoting 100PipsADay
Hahaha. I don't think I've ever used a trailing stop...

I'm really only interested in MAJOR support and resistance which is found on weekly and monthly charts, not intraday S&R levels. The weekly support/resistance are the points where price tends to gravitate to due to supply and demand. This is why I am set on 1.17 for E/A.

Take a look at the October monthly candles for G/A and E/A. Shooting star was confirmed at the close of October's monthly candle for both E/A and G/A after price bounced perfectly off of weekly/monthly resistance zones....
U/J is expected to grind down to 79.25. Might be good time to reload other Yen crosses when it got there.
  • #56,231
  • Nov 12, 2012 4:50am Nov 12, 2012 4:50am
Quoting GnarlyPips
Nice! There is an obstacle for the momentum if it breaks upward, and that's around 1.047. Though, this is based off the 4h and 1h and S/D.
Gotcha!
  • #56,232
  • Nov 12, 2012 4:52am Nov 12, 2012 4:52am
Quoting macroman


we are going to scare out these gloomy shorts on tl break
I'm definitely going to watch PA when it hits 1.058! If we can break and close above the weekly TL on a weekly candle. I may look to go long until 1.08.

Anything is possible but I just can't see it creating all time highs past 1.10 this time around... Who knows though.

Congratulations on your long positions MacroMan!
  • #56,233
  • Nov 12, 2012 4:54am Nov 12, 2012 4:54am
Quoting Ken A
U/J is expected to grind down to 79.25. Might be good time to reload other Yen crosses when it got there.
Which JPY cross pair do you have your eye on at the moment Ken?
  • #56,234
  • Nov 12, 2012 4:55am Nov 12, 2012 4:55am
Quoting 100PipsADay
Which JPY cross pair do you have your eye on at the moment Ken?
E/J is always giving me easy pips.
  • #56,235
  • Nov 12, 2012 4:59am Nov 12, 2012 4:59am
Quoting Ken A
E/J is always giving me easy pips.
Nice!

I've still got my eye on A/J but want to see a confirmed weekly close above 83.50 before going long again... 83.50 resistance has been a tough nut to crack, but if/when it does crack it should be a nice ride up to 88 with not much in the way of resistance!
  • #56,236
  • Nov 12, 2012 5:04am Nov 12, 2012 5:04am
I'd like to mark today Nov 12 as AUDUSD peace day
  • #56,237
  • Nov 12, 2012 5:06am Nov 12, 2012 5:06am
Quoting Ken A
I'd like to mark today Nov 12 as AUDUSD peace day
its still early, dont write it off yet!
Any prices quoted are futures
  • #56,238
  • Nov 12, 2012 5:06am Nov 12, 2012 5:06am
Quoting Ken A
I'd like to mark today Nov 12 as AUDUSD peace day
LOL
  • #56,239
  • Nov 12, 2012 5:07am Nov 12, 2012 5:07am
Quoting redteamgo
its still early, dont write it off yet!
  • #56,240
  • Nov 12, 2012 5:11am Nov 12, 2012 5:11am
Quoting redteamgo
its still early, dont write it off yet!
Oh Damn
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