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Aussie Trading Room and Cartoons Gallery

  • #21,801
  • Dec 29, 2012 8:46pm Dec 29, 2012 8:46pm
Hi guys, sorry to interupt the tenor of this thread but I hope someone can point me in the right direction. I'm in good 'ol Oz, born and bred in west gippsland Victoria. I'm a bit over halfway in journey that is life and with a background in business and research I'm at a point where to compete with the young guns I have to aim at further tertiary studies. So I decided that rather than spend much time and effort in Uni, I would devote the time allotted into learning the art and skill of trading (forex/cfd's) and after some prelim study have just started demo trading in forex (aud/usd while keeping an eye on euro/usd and euro/aud). To cut along story short I would like to correspond with other Aussies who are trading, particularly in my areas of interest. Any help would be appreciated. P.s. got caught out scalping aud/usd in the early hours of Sat morning our time just before the market close. Was up nicely then bombed when I couldn't work out how to reverse my position quickly enough due to unfamiliarity with Metatrader5...much to learn and a long way to go! Anyway I've got a take profit on that trade at 1.03955 based on my research and analysis. Hope I dont fall over the fiscal cliff. Cheers.
  • #21,802
  • Dec 29, 2012 8:50pm Dec 29, 2012 8:50pm
Quoting DaddyBear
Your view is the same as the popular ADCDE triangle below.

http://www.forexfactory.com/attachme...1&d=1355313904

Your platform might have low resolution to see the details. This ABCDE triangle could be started from one website and was copied/distributed in the Aussie trading community for a while. My chart has proved it is incorrect. My view is depicted in the chart below.
It is also possible that au exit the triangle from the down side. Both sides should be carefully watched.
Attached Image
  • #21,803
  • Dec 29, 2012 8:51pm Dec 29, 2012 8:51pm
Quoting DaddyBear
In regard to your daily view, I agree there will be a drop. Your version is a continued weakness but I see a rebound from weekly low. The coming week will give us the answer one way or the other.



http://www.forexfactory.com/attachme...1&d=1356818539
And where do you place a weekly low at Sir?
The More You Learn, The More You Earn.....
  • #21,804
  • Dec 29, 2012 8:57pm Dec 29, 2012 8:57pm
Quoting DaddyBear
alien, you are an intelligent species. Hope my "No Zen at all is the highest state of Zen" did not short circuit your 'brain". My point is less is more.
Well my charts are not less is more, they are more is more, I am surprised you have not executed my charts yet for being too busy......
The More You Learn, The More You Earn.....
  • #21,805
  • Dec 29, 2012 8:59pm Dec 29, 2012 8:59pm
Quoting forexalien
Can we please have a M15 ADX reading from your chart posted ......?
This is the M15 chart with ADX. I see the topping of ADX.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-122812-M15.JPG Size: 52 KB
daddybearforex. com
  • #21,806
  • Dec 29, 2012 9:06pm Dec 29, 2012 9:06pm
Quoting DaddyBear
This is the M15 chart with ADX. I see the topping of ADX.
Crossroads....that could be a D+ , D- bounce or a cross..........we shall wait and see.........
The More You Learn, The More You Earn.....
  • #21,807
  • Dec 29, 2012 9:12pm Dec 29, 2012 9:12pm
Quoting mry2001
It is also possible that au exit the triangle from the down side. Both sides should be carefully watched.
http://www.forexfactory.com/attachme...1&d=1356835695
My view is based on the monthly context. If you look into my chart carefully, you would understand what my message really meant.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-122812-M.JPG Size: 84 KB
daddybearforex. com
  • #21,808
  • Dec 29, 2012 9:21pm Dec 29, 2012 9:21pm
Quoting forexalien
Crossroads....that could be a D+ , D- bounce or a cross..........we shall wait and see.........
First, there are some hidden information you cannot see from this chart. Second, D+ may be due for a turn to the downside. Third, the new Pivot will cap D+'s next attempt to move up.
daddybearforex. com
  • #21,809
  • Dec 29, 2012 9:30pm Dec 29, 2012 9:30pm
Quoting forexalien
Crossroads....that could be a D+ , D- bounce or a cross..........we shall wait and see.........
BTW, this cross could be a kiss of the death.
daddybearforex. com
  • #21,810
  • Dec 29, 2012 11:33pm Dec 29, 2012 11:33pm
Quoting forexalien
Jollybean sounds like they are not very Jolly anymore because the market is closed......are you fascinated with the market or addicted to it's movements ?
Well, let's just say just like life, it's always exciting to see how the market plays out
  • #21,811
  • Dec 30, 2012 12:36am Dec 30, 2012 12:36am
pps I am using MT5 with candlesticks, P/sar, ema's @9,12,26, the MT5 MACD (default), full stoch and cci. Any comments on these indicators in concert?
  • #21,812
  • Dec 30, 2012 3:59am Dec 30, 2012 3:59am
Quoting DaddyBear
The proportion has something to do with Fibonacci sequence. Your EWC is totally disconnected with Fibonacci sequence. IMO
Rules EWP for wave 3 is:

 

  1. Wave 3 cannot be more than 7 times Wave 1 by price.
  2. Although there is no minimum time constraint for Wave 3, its absolute maximum time limit is 7 times Wave 1. The count is OK.IMO

  • #21,813
  • Dec 30, 2012 4:09am Dec 30, 2012 4:09am
forex alien
Is AUD / USD 1H, I'm trying to figure out the swing. When you come in and go out when!


Quoting forexalien
What is it a chart of?
  • #21,814
  • Edited 7:08am Dec 30, 2012 6:38am | Edited 7:08am
Quoting Tim_isoara
Rules EWP for wave 3 is:

 

  1. Wave 3 cannot be more than 7 times Wave 1 by price.
  2. Although there is no minimum time constraint for Wave 3, its absolute maximum time limit is 7 times Wave 1. The count is OK.IMO

Do you have a link to such a rule? I have never seen a rule like this. What I know is the relation of Wave 3 and wave 1 is 1.618/1.000 or 2.618/1.000. Both 1.618 and 2,618 are Fibonacci sequence numbers. Although 7 is a lucky number to many people, it is not a Fibonacci number.

In addition, when looking into Luis' wave 1 in the H1 chart, it is very clear that it is not an impulsive wave at all. I have noticed that you follow Luis's wave count and both of you often mark corrective waves as wave 1 or 5. This was the reason that Luis came to his EWC which is not OK IMO.
daddybearforex. com
  • #21,815
  • Dec 30, 2012 6:55am Dec 30, 2012 6:55am
"Talks toward fiscal cliff deal continue in Senate offices as deadline looms" -CNN

There will be no resolution in the US Congress tonight. This may push the Aussie lower IMO.
daddybearforex. com
  • #21,816
  • Dec 30, 2012 6:58am Dec 30, 2012 6:58am
Quoting DaddyBear
"Talks toward fiscal cliff deal continue in Senate offices as deadline looms" -CNN

There will be no resolution in the US Congress tonight. This may push the Aussie lower IMO.
The Aussie may be in a holding pattern until a progress of the Cliff issue is made in the US Congress. IMO
daddybearforex. com
  • #21,817
  • Dec 30, 2012 7:07am Dec 30, 2012 7:07am
Quoting DaddyBear
Do you have a link to such a rule? I have never seen a rule like this. What I know is the relation of Wave 3 and wave 1 is 1.618/1.000 or 2.618/1.000. Both 1.618 and 2,618 are Fibonacci sequence numbers. Although 7 is a lucky number to many people, it is not a Fibonacci number.

In addition, when looking into Luis' wave 1 in the H1 chart, it is very clear that it is not an impulsive wave at all. I have noticed that you follow Luis's wave count and both of you often mark corrective waves as wave 1 or 5. This was the reason that Luis came to his...
In an impulsive pattern, wave 1, 3 and 5 must be impulsive with rare exceptions. When counting the waves without Fibonacci sequence involved, the wave counts become out of proportion and incorrect. As mentioned before, the patterns of the highest degree are often corrective. Impulsive waves occur within the context of the higher degree corrective patterns.
daddybearforex. com
  • #21,818
  • Dec 30, 2012 7:13am Dec 30, 2012 7:13am
Quoting DaddyBear
Do you have a link to such a rule? I have never seen a rule like this. What I know is the relation of Wave 3 and wave 1 is 1.618/1.000 or 2.618/1.000. Both 1.618 and 2,618 are Fibonacci sequence numbers. Although 7 is a lucky number to many people, it is not a Fibonacci number.

In addition, when looking into Luis' wave 1 in the H1 chart, it is very clear that it is not an impulsive wave at all. I have noticed that you follow Luis's wave count and both of you often mark corrective waves as wave 1 or 5. This was the reason that Luis came to his...

  1. Tim_isoara (http://www.forexfactory.com/showthread.php?p=6317114#post6317114)|Dec 21, 2012
    http://www.forexfactory.com/nfs/cust...ar102399_3.gif
    {quote} Retracement for 4 green.Than down to end 5 green
    Thread: Aussie Trading Room and Cartoons Gallery (http://www.forexfactory.com/showthread.php?t=374571)
    Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1356123213 (http://www.forexfactory.com/attachment.php?attachmentid=1104596&d=1356123213)

    This is my count of 21 dec. and is a little different of Luis count.

  • #21,819
  • Dec 30, 2012 7:19am Dec 30, 2012 7:19am
There is a big difference between yours and Luis'. Your wave 1 and 2 are counted by Luis as wave A and B. I agree with Luis' wave A and B count but his wave counts after the end of wave B is without Fibonacci sequence in mind.

Quoting Tim_isoara
[list][*] Tim_isoara (http://www.forexfactory.com/showthread.php?p=6317114#post6317114)|Dec 21, 2012
http://www.forexfactory.com/nfs/cust...ar102399_3.gif
{quote} Retracement for 4 green.Than down to end 5 green
Thread: Aussie Trading Room and Cartoons Gallery (http://www.forexfactory.com/showthread.php?t=374571)
Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1356123213 (http://www.forexfactory.com/attachment.php?attachmentid=1104596&d=1356123213)...
daddybearforex. com
  • #21,820
  • Dec 30, 2012 7:21am Dec 30, 2012 7:21am
Also, your wave 1 is very clear a 3 wave corrective pattern; however, you marked it as wave 1. Do you think wave 1 can be a corrective pattern? Where did you get this concept?

Quoting Tim_isoara
[list][*] Tim_isoara (http://www.forexfactory.com/showthread.php?p=6317114#post6317114)|Dec 21, 2012
http://www.forexfactory.com/nfs/cust...ar102399_3.gif
{quote} Retracement for 4 green.Than down to end 5 green
Thread: Aussie Trading Room and Cartoons Gallery (http://www.forexfactory.com/showthread.php?t=374571)
Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1356123213 (http://www.forexfactory.com/attachment.php?attachmentid=1104596&d=1356123213)...
daddybearforex. com
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