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  • #13,361
  • Nov 14, 2012 5:54pm Nov 14, 2012 5:54pm
Quoting maximmm
I feel as if aud does not wish to rebound - let's see what the news event brings.

Now that aud is 100 pips lower, selling seems illogical, and yet...
Let me discuss a little bit of Patternology. By looking at today's wave pattern, a straightforward formation, I'd say it is a quick B wave. Due to its nature/DNA, it won't be able to overextend. Also, HOZ's chart indicates the supports are right on the money.

My view is that it will follow my chart pattern posted last week to move up to 1.050x.

http://www.forexfactory.com/attachme...1&d=1352517283
daddybearforex. com
  • #13,362
  • Nov 14, 2012 5:56pm Nov 14, 2012 5:56pm
Quoting Stretch
Yes that might be a bit too much to ask hey I can still dream it can go quick and easy. Realistically speaken it isn't that convincing yet. But even if it wants to move down further, I like to see 0371-72 touched.
When the ship turns, it takes time to speed up.
daddybearforex. com
  • #13,363
  • Nov 14, 2012 5:57pm Nov 14, 2012 5:57pm
Quoting DaddyBear
Let me discuss a little bit of Patternology. By looking at today's wave pattern, a straightforward formation, I'd say it is a quick B wave. Due to its nature/DNA, it won't be able to overextend. Also, HOZ's chart indicates the supports are right on the money.

My view is that it will follow my chart pattern posted last week to move up to 1.050x.

http://www.forexfactory.com/attachme...1&d=1352517283
I know - I'm not selling, but I am saying that aud seems to want to break the support line - in which case 1.05 is not in the cards. The next hour will tell all.
  • #13,364
  • Nov 14, 2012 5:58pm Nov 14, 2012 5:58pm
Quoting Daytrader74
Starting to look like its going to crack and go further down to make a new low...
It is called CONSOLIDATION not CRACKING.
daddybearforex. com
  • #13,365
  • Nov 14, 2012 6:01pm Nov 14, 2012 6:01pm
Quoting DaddyBear
When the ship turns, it takes time to speed up.
i pray for you that the ship is turning,
not sinking like titanic..
  • #13,366
  • Nov 14, 2012 6:03pm Nov 14, 2012 6:03pm
support breached
  • #13,367
  • Nov 14, 2012 6:05pm Nov 14, 2012 6:05pm
Quoting DaddyBear
It is called CONSOLIDATION not CRACKING.
This is one nice DOWNWARD moving consolidation^^
  • #13,368
  • Nov 14, 2012 6:05pm Nov 14, 2012 6:05pm
btw, selling now - alongside nzd
  • #13,369
  • Nov 14, 2012 6:08pm Nov 14, 2012 6:08pm
Quoting maximmm
btw, selling now - alongside nzd
yeah i dump my buy order and selling now too
  • #13,370
  • Nov 14, 2012 6:09pm Nov 14, 2012 6:09pm
Quoting maximmm
This is one nice DOWNWARD moving consolidation^^
its still early to say,
closing price has to confirmed this..
  • #13,371
  • Nov 14, 2012 6:10pm Nov 14, 2012 6:10pm
Quoting maximmm
support breached
Indeed. Though this doesn't mean it won't go up either. Might had been better to have skipped this pending and play the next, oh well. It was a nice try

Got a line here on 0354 that might help to get it up. But need some confirmation for it.
0338 possible as well. (0330 extended)
  • #13,372
  • Nov 14, 2012 6:17pm Nov 14, 2012 6:17pm
Quoting Stretch
Indeed. Though this doesn't mean it won't go up either. Might had been better to have skipped this pending and play the next, oh well. It was a nice try

Got a line here on 0354 that might help to get it up. But need some confirmation for it.
0338 possible as well. (0330 extended)
I find that aud starts its major drops when there are no major news releases. It often confuses traders and it usually drops like a rock without retractions.

Aud is one currency that is able to drop 200 pips without any news - yet, this is always a sign that it's starting a descending trend.

I just need one minor confirmation - nzd go 7 pips lower
  • #13,373
  • Nov 14, 2012 6:17pm Nov 14, 2012 6:17pm
Quoting DaddyBear
First, your TL was not drawn correctly.
Second, there is a horizontal support.
now, you wish you did not draw that support line..

http://www.forexfactory.com/attachme...9&d=1352932427
  • #13,374
  • Nov 14, 2012 6:18pm Nov 14, 2012 6:18pm
btw - target? 1.014
  • #13,375
  • Nov 14, 2012 6:20pm Nov 14, 2012 6:20pm
Quoting maximmm
btw - target? 1.014
support for today is 1.0316 - 1.0300

1.014 maybe some other day..
  • #13,376
  • Nov 14, 2012 6:21pm Nov 14, 2012 6:21pm
Quoting HelloOz
i pray for you that the ship is turning,
not sinking like titanic..
Don't worry about this. I bought more when it dropped.
daddybearforex. com
  • #13,377
  • Nov 14, 2012 6:21pm Nov 14, 2012 6:21pm
Quoting HelloOz
support for today is 1.0316 - 1.0300

1.014 maybe some other day..
^^ yes... that wasn't the target for today^^
  • #13,378
  • Nov 14, 2012 6:22pm Nov 14, 2012 6:22pm
Quoting maximmm
I find that aud starts its major drops when there are no major news releases. It often confuses traders and it usually drops like a rock without retractions.

Aud is one currency that is able to drop 200 pips without any news - yet, this is always a sign that it's starting a descending trend.
Thanks for that info. It is indeed a pair that likes to keep going without good retraces.
  • #13,379
  • Nov 14, 2012 6:22pm Nov 14, 2012 6:22pm
Quoting DaddyBear
Don't worry about this. I bought more when it dropped.
You bought more??? the ship is sinking papa!!
  • #13,380
  • Nov 14, 2012 6:22pm Nov 14, 2012 6:22pm
Quoting DaddyBear
Don't worry about this. I bought more when it dropped.
i hope you buy more because the chart says so not your emotions telling you so..
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