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Aussie Trading Room and Cartoons Gallery

  • #15,861
  • Nov 23, 2012 10:00pm Nov 23, 2012 10:00pm
For those still here there is a little reward, the new Market Strips comic is out: Market Obedience.

http://4.bp.blogspot.com/-HUIIvvKiDB...2012-11-23.jpg
  • #15,862
  • Nov 23, 2012 10:24pm Nov 23, 2012 10:24pm
Quoting Eric D
For those still here there is a little reward, the new Market Strips comic is out: Market Obedience.

http://4.bp.blogspot.com/-HUIIvvKiDB...2012-11-23.jpg
Hope there is a O-B-E-Y indicator. Can you make one?
daddybearforex. com
  • #15,863
  • Nov 23, 2012 10:39pm Nov 23, 2012 10:39pm
Quoting DaddyBear
Hope there is a O-B-E-Y indicator. Can you make one?
It would be amazing! hehe, long since I dropped indicator programming though, I think I have dedicated to program my head!
  • #15,864
  • Nov 24, 2012 3:01am Nov 24, 2012 3:01am
Quoting Eric D
Great day! Traders of the Cartoon Gallery, I have updated the latest chart of the Aussie from my blog and I have marked where the retracement for the trend in this bullish market enviroment could land on, there is a small confluence between the rising golden trendline and the 1.0400 level which was the latest swing high resistance now converted into support (last marked upwards blue arrow), this is the place where the green b level marked on DaddyBear's chart might bounce off in my opinion, of course current momentum is pretty high on the long side...
Very nice blog and analysis Eric.
  • #15,865
  • Nov 24, 2012 6:23am Nov 24, 2012 6:23am
Quoting blue_z_zz
one of the major rules in the EW theory principle is that wave 4 does not enter price territory of wave 1

from your chart wave 1 has a top 0.9404 and wave 4 has a low of 0.9387
Within motive waves, wave 2 never retraces more than 100% of wave 1, and wave 4 never retraces more than 100% of wave 3. Wave 3, moreover, always travels beyond the end of wave 1. The goal of a motive wave is to make progress, and these rules of formation assure that it will.
Elliott further discovered that in price terms, wave 3 is often the longest and never the shortest among the three actionary waves (1, 3 and 5) of a motive wave. As long as wave 3 undergoes a greater percentage movement than either wave 1 or 5, this rule is satisfied. It almost always holds on an arithmetic basis as well. There are two types of motive waves: impulses and diagonal triangles.

Impulse
The most common motive wave is an impulse. In an impulse, wave 4 does not enter the territory of (i.e., "overlap") wave 1. This rule holds for all non-leveraged "cash" markets. Futures markets, with their extreme leverage, can induce short term price extremes that would not occur in cash markets. Even so, overlapping is usually confined to daily and intraday price fluctuations and even then is extremely rare. In addition, the actionary subwaves (1, 3 and 5) of an impulse are themselves motive, and subwave 3 is specifically an impulse. Figures 1-2 and 1-3 in Lesson 2 and 1-4 in Lesson 3 all depict impulses in the 1, 3, 5, A and C wave positions.

DB and Blue. Wave 4 enter in wave 1 territory? I read EW theory but with my english I d"ont understand.
  • #15,866
  • Nov 24, 2012 8:54am Nov 24, 2012 8:54am
Saturday, November 24, 2012

Forex: Scalping AUD/USD Rebound- Outlook Remains Bearish Below 1.04 (http://market-stock.blogspot.com/2012/11/forex-scalping-audusd-rebound-outlook.html)


Attached Image
daddybearforex. com
  • #15,867
  • Nov 24, 2012 8:57am Nov 24, 2012 8:57am
Quoting Tim_isoara
Within motive waves, wave 2 never retraces more than 100% of wave 1, and wave 4 never retraces more than 100% of wave 3. Wave 3, moreover, always travels beyond the end of wave 1. The goal of a motive wave is to make progress, and these rules of formation assure that it will.
[font=Arial][size=2]Elliott further discovered that in price terms, wave 3 is often the longest and never the shortest among...
In an impulsive pattern, wave 4 cannot overlap with wave 1. If it does, the pattern is corrective.
daddybearforex. com
  • #15,868
  • Nov 24, 2012 9:07am Nov 24, 2012 9:07am
"AUD/USD's rebound from 1.0286 extended further last week but it's still held below 1.0480 resistance. Initial bias remains neutral this week. Above 1.0480 will extend the whole rally from 1.0148. But as noted before, such choppy recovery is viewed as a corrective move and thus, we'd expect strong resistance below 1.0624 to limit upside and bring another decline. Meanwhile, below 1.0286 will flip bias back to the downside for 1.0148 first."

(http://www.actionforex.com/action-insight/audusd-outlook/aud%10usd-weekly-outlook-20121124179170/)

http://www.forexfactory.com/attachme...1&d=1342182564

Two-way comment = No comment?
daddybearforex. com
  • #15,869
  • Edited 9:24am Nov 24, 2012 9:13am | Edited 9:24am
Quoting DaddyBear
Two-way comment = No comment?
How are they trading the Aussie under such dual-view? May be like this.

http://www.forexfactory.com/attachme...1&d=1353603543
daddybearforex. com
  • #15,870
  • Nov 24, 2012 9:14am Nov 24, 2012 9:14am
Quoting DaddyBear
In an impulsive pattern, wave 4 cannot overlap with wave 1. If it does, the pattern is corrective.
A leading diagonal in the wave one position is typically followed by a deep retracement. example from EW lesson
Attached Image (click to enlarge)
Click to Enlarge Name: expanding diagonal.gif Size: 10 KB
Attached Image
  • #15,871
  • Nov 24, 2012 9:18am Nov 24, 2012 9:18am
Quoting DaddyBear
How are they trade the Aussie under such dual-view? May be like this.
IMO, a blog providing dual-view all the time creates confusion as to what they really think about the next move. Whether or not a view is correct in the end is not important. What matters is what they really think either bearish or bullish.
daddybearforex. com
  • #15,872
  • Nov 24, 2012 9:21am Nov 24, 2012 9:21am
Quoting Tim_isoara
A leading diagonal in the wave one position is typically followed by a deep retracement. example from EW lesson
There are some exceptions such as an ending diagonal in regard to the non-overlapping rule. The ending diagonal is the wave 5.
daddybearforex. com
  • #15,873
  • Nov 24, 2012 9:29am Nov 24, 2012 9:29am
Quoting DaddyBear
"AUD/USD's rebound from 1.0286 extended further last week but it's still held below 1.0480 resistance. Initial bias remains neutral this week. Above 1.0480 will extend the whole rally from 1.0148. But as noted before, such choppy recovery is viewed as a corrective move and thus, we'd expect strong resistance below 1.0624 to limit upside and bring another decline. Meanwhile, below 1.0286 will flip bias back to the downside for 1.0148 first."

(http://www.actionforex.com/action-insight/audusd-outlook/aud%10usd-weekly-outlook-20121124179170/)

http://www.forexfactory.com/attachme...1&d=1342182564

Two-way...
Last week, their daily pattern was a diagonal. Now the pattern has been changed to a channel. This change may be caused by their dual-view last week.
daddybearforex. com
  • #15,874
  • Nov 24, 2012 11:05am Nov 24, 2012 11:05am
Quoting DaddyBear
The Patience Index is needed in trading more than anything else.
Agree
The More You Learn, The More You Earn.....
  • #15,875
  • Nov 24, 2012 11:28am Nov 24, 2012 11:28am
Quoting DaddyBear
So, what is your projection?
I trade what I see in real time. I can forcast in real time where the market is going, but I am new to projections, because the volume of trading can change in a minute. We just finished a ABCD pattern to within 2 pips. The weekly chart is flat, the daily chart has room to run long along with the 4h, the 1h can go either way, my guess is a 3rd wave up after the 15m chart cycles down and back up a couple of times.
The More You Learn, The More You Earn.....
  • #15,876
  • Nov 24, 2012 11:33am Nov 24, 2012 11:33am
Quoting DaddyBear
What is your take of the Aussie's next move on Sunday?

http://www.forexfactory.com/attachme...1&d=1353708063
Ranging and another push up before retracement........
The More You Learn, The More You Earn.....
  • #15,877
  • Nov 24, 2012 2:41pm Nov 24, 2012 2:41pm
Quoting forexalien
Ranging and another push up before retracement........
What are the top and bottom of the range?
daddybearforex. com
  • #15,878
  • Nov 24, 2012 2:45pm Nov 24, 2012 2:45pm
Monthly Projection
Attached Image
daddybearforex. com
  • #15,879
  • Nov 24, 2012 2:52pm Nov 24, 2012 2:52pm
Weekly Projection

Note:The yellow arrow may be short-lived.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-112412-W.JPG Size: 70 KB
daddybearforex. com
  • #15,880
  • Nov 24, 2012 2:55pm Nov 24, 2012 2:55pm
Daily Projection
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-112412-D.JPG Size: 82 KB
daddybearforex. com
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