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  • #13,701
  • Nov 15, 2012 10:46am Nov 15, 2012 10:46am
Quoting DaddyBear
Some people may call it a flag.
Bearish flag?

Have you switched to a more bearish view or still bullish for now?
It's looking a bit oversold, but doesn't mean it has no more room to the downside first.
Where do you draw the line?
  • #13,702
  • Nov 15, 2012 10:47am Nov 15, 2012 10:47am
Quoting DaddyBear
It is forming a triangle now.
Which time frame? I'm not seeing anything as of yet.
  • #13,703
  • Nov 15, 2012 10:51am Nov 15, 2012 10:51am
In my limited experience, aud can go up or down 400 or 500 pips without any (fibonacci) proper retractions.

In those rare instances, the necessary fibonacci-calculated retractions do take place but only on daily charts. Although I'm not saying that this move down will be retraction free - if it does occur, I do expect at least a 50% retraction from the 0.98 handle to 1.02
  • #13,704
  • Nov 15, 2012 10:55am Nov 15, 2012 10:55am
Quoting maximmm
In my limited experience, aud can go up or down 400 or 500 pips without any (fibonacci) proper retractions.

In those rare instances, the necessary fibonacci-calculated retractions do take place but only on daily charts. Although I'm not saying that this move down will be retraction free - if it does occur, I do expect at least a 50% retraction from the 0.98 handle to 1.02
Noted, thx.

Does it need a retest of the broken TL in your experience? Or does aud in your experience don't care?
  • #13,705
  • Nov 15, 2012 10:56am Nov 15, 2012 10:56am
Quoting Stretch
Noted, thx.

Does it need a retest of the broken TL in your experience? Or does aud in your experience don't care?
I think there's always a 50% chance of retest - regardless of the currency.
  • #13,706
  • Nov 15, 2012 10:59am Nov 15, 2012 10:59am
Quoting maximmm
I think there's always a 50% chance of retest - regardless of the currency.
Will toss a coin than in hopes I can get a good entry there. lol
  • #13,707
  • Nov 15, 2012 11:05am Nov 15, 2012 11:05am
Quoting Stretch
Bearish flag?

Have you switched to a more bearish view or still bullish for now?
It's looking a bit oversold, but doesn't mean it has no more room to the downside first.
Where do you draw the line?
My short term bullish view is intact.
daddybearforex. com
  • #13,708
  • Nov 15, 2012 11:06am Nov 15, 2012 11:06am
Quoting maximmm
Which time frame? I'm not seeing anything as of yet.
M1 or M5
daddybearforex. com
  • #13,709
  • Nov 15, 2012 11:13am Nov 15, 2012 11:13am
Quoting DaddyBear
M1 or M5
Personally, I prefer tick chart^^ that's a joke
  • #13,710
  • Nov 15, 2012 11:20am Nov 15, 2012 11:20am
Quoting Stretch
Will toss a coin than in hopes I can get a good entry there. lol
If it heads back up to 1.0365, I'll definitely be selling there.
  • #13,711
  • Nov 15, 2012 11:29am Nov 15, 2012 11:29am
Quoting maximmm
If it heads back up to 1.0365, I'll definitely be selling there.
Let's just hope it bounces, because I can't short it here. I rather long again but I will just watch for now.

DaddyBear's short term bullish view would be nice than.
  • #13,712
  • Nov 15, 2012 11:32am Nov 15, 2012 11:32am
Quoting Stretch
Let's just hope it bounces, because I can't short it here. I rather long again but I will just watch for now.

DaddyBear's short term bullish view would be nice than.
nice for long
  • #13,713
  • Nov 15, 2012 11:41am Nov 15, 2012 11:41am
Quoting maximmm
If it heads back up to 1.0365, I'll definitely be selling there.
Let's see if it can be there first then see if you do sell into the strength.
daddybearforex. com
  • #13,714
  • Nov 15, 2012 11:56am Nov 15, 2012 11:56am
Quoting DaddyBear
Let's see if it can be there first then see if you do sell into the strength.
I really hope it gets there, since I closed my shorts. I'll also definitely be selling there with a stop - it would make little sense if I didn't - given my bias and the broken trend line.
  • #13,715
  • Nov 15, 2012 11:57am Nov 15, 2012 11:57am
Quoting Stretch
Let's just hope it bounces, because I can't short it here. I rather long again but I will just watch for now.

DaddyBear's short term bullish view would be nice than.
I think and hope that it does bounce here for a retest of the broken TL.

Currently though, I'm buying usdjpy again.
  • #13,716
  • Nov 15, 2012 12:00pm Nov 15, 2012 12:00pm
Quoting DaddyBear
Let's see if it can be there first then see if you do sell into the strength.
I don't really understand why you do not see broken TL for what it is - -

The technicals are all there - don't let emotions cloud your judgement. Once upon a time you shared my bearish bias - that bearish bias has an even greater merit now.
  • #13,717
  • Nov 15, 2012 12:07pm Nov 15, 2012 12:07pm
Quoting maximmm
I don't really understand why you do not see broken TL for what it is - -

The technicals are all there - don't let emotions cloud your judgement. Once upon a time you shared my bearish bias - that bearish bias has an even greater merit now.
Can you post your chart?
daddybearforex. com
  • #13,718
  • Nov 15, 2012 12:19pm Nov 15, 2012 12:19pm
Quoting DaddyBear
Can you post your chart?
I'd rather describe it. The uptrend line is from 10/08. Currently the line is at 1.037 level

4 hour chart
  • #13,719
  • Nov 15, 2012 12:24pm Nov 15, 2012 12:24pm
The Bull was working on a job site near 1.030 Height........
Attached Image (click to enlarge)
Click to Enlarge Name: FOUNDATION.JPG Size: 98 KB
daddybearforex. com
  • #13,720
  • Nov 15, 2012 12:26pm Nov 15, 2012 12:26pm
Quoting DaddyBear
The Bull was working on a job site near 1.030 Height........
Then .......
Attached Image (click to enlarge)
Click to Enlarge Name: FOUNDATION-2.JPG Size: 63 KB
daddybearforex. com
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