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  • #14,021
  • Nov 16, 2012 12:35pm Nov 16, 2012 12:35pm
Quoting DaddyBear
1.037 was a old mark and not valid anymore. 1.038xx is the new R. The Aussie may take a break at that level. 30 plus pips to go.
The old mark was at 1.0365 - I'm talking about the broken trend line - one which you do not want to see.
Right now it's at 1.0375
  • #14,022
  • Nov 16, 2012 12:36pm Nov 16, 2012 12:36pm
The ADX in M5, M15 and H1 are all positive. H1 is on the verge of a "Indicator Breakout".
daddybearforex. com
  • #14,023
  • Nov 16, 2012 12:37pm Nov 16, 2012 12:37pm
at the same time, if it takes 10 hours to get to that line, it will indeed be at 1.038 - timing is everything, I suppose^^
  • #14,024
  • Nov 16, 2012 12:38pm Nov 16, 2012 12:38pm
Quoting DaddyBear
The ADX in M5, M15 and H1 are all positive. H1 is on the verge of a "Indicator Breakout".
Remember, it's Friday. It means that while it did not break to the downside, it is unlikely to break to the upside either.

We'll probably remain at current levels for the remainder of the day. The opening PA on Sunday should be interesting though.
  • #14,025
  • Nov 16, 2012 12:39pm Nov 16, 2012 12:39pm
What I see now is the prelude of the FINALE party, the final up thrust. The pattern is forming nicely.

http://www.forexfactory.com/attachme...1&d=1352517283
daddybearforex. com
  • #14,026
  • Edited 1:03pm Nov 16, 2012 12:41pm | Edited 1:03pm
Quoting maximmm
Remember, it's Friday. It means that while it did not break to the downside, it is unlikely to break to the upside either.

We'll probably remain at current levels for the remainder of the day. The opening PA on Sunday should be interesting though.
I am not looking for a breakout to the upside. Only looking for the PIPS.
daddybearforex. com
  • #14,027
  • Nov 16, 2012 12:41pm Nov 16, 2012 12:41pm
Now it's gearing up. 20 plus pips to go now.
daddybearforex. com
  • #14,028
  • Nov 16, 2012 12:44pm Nov 16, 2012 12:44pm
R1 is also the FIB 23.60%. This make it more meaning to be a temp. terminus.
daddybearforex. com
  • #14,029
  • Nov 16, 2012 12:45pm Nov 16, 2012 12:45pm
In addition, China's new leaders may promote some exciting new projects this weekend. If it does, it will prop up the Aussie to the Moon in no time IMO.
daddybearforex. com
  • #14,030
  • Nov 16, 2012 12:47pm Nov 16, 2012 12:47pm
Quoting DaddyBear
In addition, China's new leaders may promote some exciting new projects this weekend. If it does, it will prop up the Aussie to the Moon in no time IMO.
Are you seeing 1.10 now that Aud went up 40 pips?^^
  • #14,031
  • Nov 16, 2012 12:53pm Nov 16, 2012 12:53pm
Now the daily is forming a daily Hammer with a long shadow sitting on the LTL. A textbook bullish sign.
daddybearforex. com
  • #14,032
  • Nov 16, 2012 12:55pm Nov 16, 2012 12:55pm
Quoting maximmm
Are you seeing 1.10 now that Aud went up 40 pips?^^
Eventually, the Aussie will move to 1.10xx. These 40 pips are peanuts.

http://www.forexfactory.com/attachme...1&d=1352525455
daddybearforex. com
  • #14,033
  • Nov 16, 2012 1:00pm Nov 16, 2012 1:00pm
Quoting DaddyBear
Eventually, the Aussie will move to 1.10xx. These 40 pips are peanuts.

In fact, the lager context is bearish based on this chart.

http://www.forexfactory.com/attachme...1&d=1351397919
daddybearforex. com
  • #14,034
  • Nov 16, 2012 1:10pm Nov 16, 2012 1:10pm
Current poll results indicate the Bears and the Bulls are neck and neck. 15/14. Expect the results to change during coming sessions.

http://www.forexfactory.com/attachme...1&d=1353029549
daddybearforex. com
  • #14,035
  • Nov 16, 2012 1:14pm Nov 16, 2012 1:14pm
A "technical breakout" in H4 is imminent.
daddybearforex. com
  • #14,036
  • Nov 16, 2012 1:21pm Nov 16, 2012 1:21pm
Quoting DaddyBear
A "technical breakout" in H4 is imminent.
I am shifting to using H4 for trading from now on. Trading on the daily is good good for long term investment. As to short term trading, H4 is very useful to determine the beginning and the ending of sub-trends. IMO
daddybearforex. com
  • #14,037
  • Nov 16, 2012 1:26pm Nov 16, 2012 1:26pm
The move up was based on hopes for fiscal cliff resolution over the weekend = due to some comments made by the congress peeps. If it does not get resolved, I expect this mini rally to unwind on Sunday.

Yet, if it does get resolved - hold on to your horses - AUD will skyrocket.
  • #14,038
  • Nov 16, 2012 1:26pm Nov 16, 2012 1:26pm
The FINALE I have been talking about has two parts. The first part is the Minor Finale we are witnessing now. The Major Finale will come after most people think it's over.
daddybearforex. com
  • #14,039
  • Nov 16, 2012 1:29pm Nov 16, 2012 1:29pm
Quoting DaddyBear
The FINALE I have been talking about has two parts. The first part is the Minor Finale we are witnessing now. The Major Finale will come after most people think it's over.
Think about the fiscal cliff?^^ They'll need to see congress pass the bill - it's either do or die.
It it gets passed - as the congress has hinted it might, then you are absolutely right. If it doesn't - hold on to your rocks, because it's going to sink^^
  • #14,040
  • Nov 16, 2012 1:37pm Nov 16, 2012 1:37pm
Quoting maximmm
The move up was based on hopes for fiscal cliff resolution over the weekend = due to some comments made by the congress peeps. If it does not get resolved, I expect this mini rally to unwind on Sunday.
As mentioned numerous times before, the market paths were PRESET. When the Aussie hit the daily LTL, the news hit the wires. Obama and the Congress don't trade the Aussie. Why did these two events happen at the same time? There are some invisible elements in the markets and charts. The Law of Market is behind all these moves.

Now, this issue won't have a conclusion this weekend. In fact, I am expecting Chinese new leaders to announce something big this weekend. I was trying to close all longs but decide to keep them over the weekend.

D1 and H4 charts indicate a big upward move in the cards. What we are seeing now is the unwinding of the bearish pressure built up during last few days. What unwinding will happen on Sunday?
daddybearforex. com
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