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  • #17,701
  • Dec 3, 2012 9:48pm Dec 3, 2012 9:48pm
Quoting kerrydrake
DB is shooting for 1.0620 on his EWP and ADX is he not?

Weird how I'm thinking the same as DB. If price hits 1.06~ before the new year, then that price is a GREAT price to sell.

(On the chart, ignore the BB's and MA's. Just look at the straight/circular lines.)

Edit: Daily
Attached Image
Play the players, not the cards.
  • #17,702
  • Dec 3, 2012 9:48pm Dec 3, 2012 9:48pm
Trapped some shorts, not much follow thru yet, technicals will kick back in over the fundies.
  • #17,703
  • Dec 3, 2012 9:49pm Dec 3, 2012 9:49pm
Quoting maximmm
I think it is merely playing in the expanding triangle. Still, interesting reaction to the cut - the ultimate stop grabber^^
(I edit/added a little in my post about my position.)

Yes interesting. I am glad it went up still. Almost had to cut it when -15 or -20 pips. So I am glad with the opposite of that Almost feels like gambling now, but PA was building up IMO, so was somewhat confident. But I might ask myself next if this was the best suitable way of trading. Ok got lucky, but next time I will lose.
  • #17,704
  • Dec 3, 2012 9:49pm Dec 3, 2012 9:49pm
the price action result seems quite random, may expect the breakout to fade itself back. But the current volume will probably be too slow. looking as if it had went against the majority's thoughts thinking that rate cut will commonly cause a drop instead of a rise.
  • #17,705
  • Dec 3, 2012 9:53pm Dec 3, 2012 9:53pm
Quoting 5percent
the price action result seems quite random, may expect the breakout to fade itself back. But the current volume will probably be too slow. looking as if it had went against the majority's thoughts thinking that rate cut will commonly cause a drop instead of a rise.
Well I expected a rise anyway on the way how PA was building up. But yes, it's not what the majority probably thought.
You think this breakout will just go back to where PA left us a few hours ago?

I will just see how the closes are according to my levels. Use them lvl for lvl.

Just noticing a Upwards TL is touched that's almost exactly at my lvl 0455.8
Someone else got an Upwards TL there too?
  • #17,706
  • Dec 3, 2012 9:54pm Dec 3, 2012 9:54pm
Quoting Eric D
Good day traders of the Cartoon Gallery, wanted to stop by and share my 2 cents:

Daily chart:



4 Hourly chart:

http://1.bp.blogspot.com/-i9GyjEhtZD...+02+audusd.gif

Above is the 4 hourly chart in continuation of the Friday's review (which I have included below in case someone wants to see it), where I see a small confluence for support in the very short term, with a divergence formation at the same spot the 200 EMA lies, notice how price has struggled to close below the central...
Keep an eye on this channel
  • #17,707
  • Dec 3, 2012 9:54pm Dec 3, 2012 9:54pm
Now, what is next?
daddybearforex. com
  • #17,708
  • Dec 3, 2012 9:55pm Dec 3, 2012 9:55pm
Quoting DaddyBear
Now, what is next?

Aren't you rooting for 1.062?
Play the players, not the cards.
  • #17,709
  • Dec 3, 2012 9:55pm Dec 3, 2012 9:55pm
Quoting Stretch
(I edit/added a little in my post about my position.)

Yes interesting. I am glad it went up still. Almost had to cut it when -15 or -20 pips. So I am glad with the opposite of that Almost feels like gambling now, but PA was building up IMO, so was somewhat confident. But I might ask myself next if this was the best suitable way of trading. Ok got lucky, but next time I will lose.
You were gambling. trading news takes experience and with that it can bite you 50% of the time. Wait for a trend to develope, if it does not, then no pips lost. It is more important to protect your money than to be in a trade.
  • #17,710
  • Dec 3, 2012 9:57pm Dec 3, 2012 9:57pm
Quoting DaddyBear
Now, what is next?
I have my long position still open...I see 1.05x in sight
Good luck and may the odds be ever in your favor!
  • #17,711
  • Dec 3, 2012 10:00pm Dec 3, 2012 10:00pm
Quoting kerrydrake
You were gambling. trading news takes experience and with that it can bite you 50% of the time. Wait for a trend to develope, if it does not, then no pips losted. It is more important to protect your money than to be in a trade.
Like I wrote So I agree.
But in all honesty PA did develop building up movement. So technical I saw it at least test the current high around 0445.
And my trading style is often against the trend, while I use pendings and try to pick tops and bottoms.
Off course I often avoid news because of this. It's a risk. But my SL will minimize the Risk.
  • #17,712
  • Dec 3, 2012 10:02pm Dec 3, 2012 10:02pm
Quoting kerrydrake
You were gambling. trading news takes experience and with that it can bite you 50% of the time. Wait for a trend to develope, if it does not, then no pips lost. It is more important to protect your money than to be in a trade.

I think is one news event that puzzled even the experienced traders. I don't see aud developing any sort of trend here.... certainly not to the upside. In fact, this could well be the prelude to a major drop down.
  • #17,713
  • Dec 3, 2012 10:04pm Dec 3, 2012 10:04pm
Quoting Stretch
Like I wrote So I agree.
But in all honesty PA did develop building up movement. So technical I saw it at least test the current high around 0445.
And my trading style is often against the trend, while I use pendings and try to pick tops and bottoms.
Off course I often avoid news because of this. It's a risk. But my SL will minimize the Risk.
Than if a trend forms I can use my levels to keep or close a position. Btw what I meant with building UP movement: it had a triple bottom around 0413-14
Last M30 bars were forming up. So that's why I decided to keep the L before the statement.
  • #17,714
  • Dec 3, 2012 10:04pm Dec 3, 2012 10:04pm
Quoting dbutton1990
I have my long position still open...I see 1.05x in sight
I would suggest to place stops at your entry mark - so you don't go into red if aud decides to drop.
I think the current price action will ultimately confuse a lot of people and cause them to make some very irrational decisions - such as buying aud when it has just dropped its interest rate to the historical low levels
  • #17,715
  • Dec 3, 2012 10:05pm Dec 3, 2012 10:05pm
having said that, if the expanding triangle is anything to go by, 1.0460 may still get tested.
  • #17,716
  • Dec 3, 2012 10:07pm Dec 3, 2012 10:07pm
Quoting GnarlyPips
Aren't you rooting for 1.062?
I have never said that 1.062 right after RBA decision. My projection was to reach 1.05xx first before dropping to 1.01xx.
daddybearforex. com
  • #17,717
  • Dec 3, 2012 10:08pm Dec 3, 2012 10:08pm
Quoting Stretch
With this statement I expected a little short :S
But luckily my Long got lucky. I am out, it stalled so I didn't know what it was going to do. Because of partials an average of 18 pips with this position. (biggest partial closed at 0452, my entry was a bit higher, since I already closed a L earlier, went in again with the expectation it had to climb first before a dive down when a rate cut would occur, or skyrocket without one...)

It touched just above my level at 0455.8
Watch where it closes levels

0488
0480.2 - 0481.5
0464.2 - 0465.9...
Btw my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_AUD_USD_Hourly_snapshot-04-12-2012.png Size: 43 KB
  • #17,718
  • Dec 3, 2012 10:09pm Dec 3, 2012 10:09pm
Quoting DaddyBear
I have never said that 1.062 right after RBA decision. My projection was to reach 1.05xx first before dropping to 1.01xx.
who would have thought aud will reach 1.050 AFTER rate cut..
  • #17,719
  • Dec 3, 2012 10:11pm Dec 3, 2012 10:11pm
Quoting maximmm
Keep an eye on this channel
Thank you maximmm... as it turned out, price did go to the resistance level and retraced back a little by the close of the candle around 4:00 am GMT:

http://4.bp.blogspot.com/-y50F6i5BCi...+03+audusd.gif
  • #17,720
  • Dec 3, 2012 10:11pm Dec 3, 2012 10:11pm
Quoting HelloOz
who would have thought aud will reach 1.050 AFTER rate cut..
If the cut was needed, wouldn't that be good for the economy, though? If the cut wasn't needed, wouldn't it be bad for a cut to happen?
Play the players, not the cards.
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