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  • #14,161
  • Nov 17, 2012 12:32pm Nov 17, 2012 12:32pm
Quoting DaddyBear
As mentioned last night, if a gap up occurs, it may not be filled completely. Hence, it may not be a good level to short at the open. IMO
I no longer expect a gap. Then again, if fiscal cliff gets resolved, I will buy regardless of the gap^^

Then again, I do not expect fiscal cliff issue to be resolved - which means, no gap.
  • #14,162
  • Nov 17, 2012 12:38pm Nov 17, 2012 12:38pm
Quoting maximmm
I no longer expect a gap. Then again, if fiscal cliff gets resolved, I will buy regardless of the gap^^

Then again, I do not expect fiscal cliff issue to be resolved - which means, no gap.
The CLIFF issue won't be resolved or not resolved by Sunday open. So, the sentiment will remain as the main driving force to send the Aussie to the north. Friday close was near the day high. This means the leftover of the sentiment will be carried over to Asia Sunday night.

Even if there is no gap up, I still expect a green candle on Monday.
daddybearforex. com
  • #14,163
  • Nov 17, 2012 12:42pm Nov 17, 2012 12:42pm
Quoting maximmm
I no longer expect a gap. Then again, if fiscal cliff gets resolved, I will buy regardless of the gap^^

Then again, I do not expect fiscal cliff issue to be resolved - which means, no gap.
BTW, I believe you had never expected a gap at Sunday open. Your message really confuses me a lot.
daddybearforex. com
  • #14,164
  • Nov 17, 2012 1:02pm Nov 17, 2012 1:02pm
In order to get ready for the face off next week, the Bull and the Bear visited the local masks store to get their new masks .......
Attached Image
daddybearforex. com
  • #14,165
  • Nov 17, 2012 1:19pm Nov 17, 2012 1:19pm
Quoting DaddyBear
Although it's hard to understand your charts, I have found they are very interesting.

I find them hard to look at, as well. Though, it seems that the template creates objective S/R instead of purely subjective. It may be somewhat subjective to place to the two main points that creates the entire template, but more often than not, it's very objective. Then, once the template has been established, I look for three patterns: ascending/descending triangle, pennants, and that corner triangle shape thing which I don't know what to call.

When the trend lines cross, which is where the horizontal lines come from, this indicates that a turn-around or a continuation in price will occur, quite often with extra momentum. (I think, so far.)

There are some other patterns I think I've been noticing, though it will probably take a couple of weeks before I can catalog them and whatnot. There's actually a lot of other neat little lines one can draw, though I like to keep it simple. It's also very easy to draw, so if you want to do your own research on it, then more power to you! (Though, I wish the template was a "tool" or "indicator" which would have everything to the exact pip, rather than being off a pip or two, which could be the case in the weekly chart provided last night)

For next week, I'm anticipating little volume, considering it's Turkey Day next week. (Going to be the first holiday season for me in terms of trading.) Concerning the "fiscal cliff", I posted last week about how Houston will become a major, major, major player in world economics because of the widening of the Panama Canal, which will allow America to become the number 1 exporter of oil. Combine this with robotic technology, and I don't see why this "cliff" should be anything to worry about. It's just noise and propaganda, really. Also, if you look at what China has been doing for the last couple decades, which is easing to buy up USD's and then buying up bonds, we can see China looks to be improving it's middle class in the coming decades. This is something America wants to do, as well. (I do believe I read that there's a deal that China will increase it's imports from us while we increase our exports to them. Basically, switch our debt buying around.)
Play the players, not the cards.
  • #14,166
  • Nov 17, 2012 1:23pm Nov 17, 2012 1:23pm
Quoting GnarlyPips
I find them hard to look at, as well. Though, it seems that the template creates objective S/R instead of purely subjective. It may be somewhat subjective to place to the two main points that creates the entire template, but more often than not, it's very objective. Then, once the template has been established, I look for three patterns: ascending/descending triangle, pennants, and that corner triangle shape thing which I don't know what to call.

When the trend lines cross, which is where the horizontal lines come from, this indicates that a turn-around...
Nice message to read. What is your take on the Aussie next week?
daddybearforex. com
  • #14,167
  • Nov 17, 2012 1:33pm Nov 17, 2012 1:33pm
Quoting DaddyBear
Nice message to read. What is your take on the Aussie next week?
Little volume. Unless war breaks out in Isreal/Gaza/Syria/Turkey/Egypt/Iraq. Price may retrace back to 1.04~.
Play the players, not the cards.
  • #14,168
  • Nov 17, 2012 1:35pm Nov 17, 2012 1:35pm
Quoting DaddyBear
In order to get ready for the face off next week, the Bull and the Bear visited the local masks store to get their new masks .......
ahhaahahaahahah funny
  • #14,169
  • Nov 17, 2012 3:52pm Nov 17, 2012 3:52pm
Quoting alam88009
I don't know about that but she wants trade only ausie sir
How much money she have? I can trade aussie for her
  • #14,170
  • Nov 17, 2012 4:01pm Nov 17, 2012 4:01pm
Good day traders of the Cartoon Gallery, just like every week, here is the latest Market Strips comic from my blog...

http://2.bp.blogspot.com/-fNmQPkyjk8...ket+Strips.jpg

Click to enlarge...
  • #14,171
  • Nov 17, 2012 4:25pm Nov 17, 2012 4:25pm
AUD/USD Friday's price action formed a nice bullish pinbar which tail "pierced" deeply below the support level in confluence with the 200 days EMA + the Central Monthly Pivot just to be rejected later, the CCI cycle indicator reached the oversold area.

Daily chart shown above, support confluence depicted at the black horizontal level around 1.0320, Friday's price action is a nice bullish blue colored pinbar resting at this level, resistance is way above our heads around 1.0450, so this looks like a good opportunity to me.
  • #14,172
  • Nov 17, 2012 4:28pm Nov 17, 2012 4:28pm
Quoting Daytrader74
AUD/USD Friday's price action formed a nice bullish pinbar which tail "pierced" deeply below the support level in confluence with the 200 days EMA + the Central Monthly Pivot just to be rejected later, the CCI cycle indicator reached the oversold area.

Daily chart shown above, support confluence depicted at the black horizontal level around 1.0320, Friday's price action is a nice bullish blue colored pinbar resting at this level, resistance is way above our heads around 1.0450, so this looks like a good opportunity to me.
Looks like the chart is missing!
  • #14,173
  • Nov 17, 2012 4:31pm Nov 17, 2012 4:31pm
Quoting Daytrader74
AUD/USD Friday's price action formed a nice bullish pinbar which tail "pierced" deeply below the support level in confluence with the 200 days EMA + the Central Monthly Pivot just to be rejected later, the CCI cycle indicator reached the oversold area.

Daily chart shown above, support confluence depicted at the black horizontal level around 1.0320, Friday's price action is a nice bullish blue colored pinbar resting at this level, resistance is way above our heads around 1.0450, so this looks like a good opportunity to me.
http://2.bp.blogspot.com/-IHuW3LGA9V...+01+audusd.gif

Well, there it is...
  • #14,174
  • Nov 17, 2012 4:35pm Nov 17, 2012 4:35pm
Quoting GnarlyPips
Little volume. Unless war breaks out in Isreal/Gaza/Syria/Turkey/Egypt/Iraq. Price may retrace back to 1.04~.
Volume won't be too low except the Thanksgiving day. If the was breaks out the USD will rise. Based on the chart reading, I think the war, if any, won't happen until after the Thanksgiving day. This is a reversed projection. If the war does happen, the Aussie will go to below 1.0300. IMO
daddybearforex. com
  • #14,175
  • Nov 17, 2012 4:35pm Nov 17, 2012 4:35pm
Quoting Eric D
http://2.bp.blogspot.com/-IHuW3LGA9V...+01+audusd.gif

Well, there it is...
Cool, you found the chart. Thanks
  • #14,176
  • Nov 17, 2012 4:36pm Nov 17, 2012 4:36pm
Quoting Daytrader74
Cool, you found the chart. Thanks
well yes it was easy... you know it is from my blog.
  • #14,177
  • Nov 17, 2012 4:36pm Nov 17, 2012 4:36pm
Quoting DaddyBear
Volume won't be too low except the Thanksgiving day. If the was breaks out the USD will rise. Based on the chart reading, I think the war, if any, won't happen until after the Thanksgiving day. This is a reversed projection. If the war does happen, the Aussie will go to below 1.0300. IMO
What about gold Papa? I'm heavy long gold as well
  • #14,178
  • Nov 17, 2012 4:37pm Nov 17, 2012 4:37pm
Quoting Itrade24h
ahhaahahaahahah funny
I guess you would buy the mask with 1.01 printed on it.
daddybearforex. com
  • #14,179
  • Nov 17, 2012 4:37pm Nov 17, 2012 4:37pm
Quoting Eric D
well yes it was easy... you know it is from my blog.
Oh just realized it was your blog, nice blog!
  • #14,180
  • Nov 17, 2012 4:38pm Nov 17, 2012 4:38pm
Quoting Daytrader74
Oh just realized it was your blog, nice blog!
Thank you very much!
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