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  • #22,041
  • Jan 2, 2013 12:48am Jan 2, 2013 12:48am
Quoting DaddyBear
Within the daily context, 1.06 will be tested later. Within the H4/H1 context,1.06 will not be tested in the very near term. Not sure about your definition of the bottom drops out. At least I know it won't go below 0. This absolute bottom won't drop out...Papa
I wasn't talking absolute bottom...that's a bit extreme do you think..what i was talking about was how it we went to where we are right now from the 1.0382-94 area..on the news of what's perceived to be a vote for fiscal cliff.. still think it has snags to be dealt with before it can be of use or a hindrance..which leaves IMHO room for the drop back to the 1.0382-945 area..when... is what i'm wondering...
  • #22,042
  • Jan 2, 2013 12:57am Jan 2, 2013 12:57am
Barring a dollar collapse and AUD/USD skyrocketing into the stratosphere, I could definitely see it retracing back to 1.0410 - 1.0435 before the next move.
  • #22,043
  • Jan 2, 2013 12:57am Jan 2, 2013 12:57am
here's what i'm doing at the moment..have a long from 1.0468...tp is 1.0512...would love to take a short after from the 1.0532-55 area....comments or analysis highly appreciated..
  • #22,044
  • Jan 2, 2013 1:03am Jan 2, 2013 1:03am
Quoting petehnm
here's what i'm doing at the moment..have a long from 1.0468...tp is 1.0512...would love to take a short after from the 1.0532-55 area....comments or analysis highly appreciated..
*Can* see that happening, but IMO please be very careful and watch closely.

I think it's slightly more likely to retrace down from here, before any significant move up.
  • #22,045
  • Jan 2, 2013 1:11am Jan 2, 2013 1:11am
Quoting JollyBean
*Can* see that happening, but IMO please be very careful and watch closely.

I think it's slightly more likely to retrace down from here, before any move up.

thanks jolly..will do .. definitely seeing a retrace...and because I see that possibility is why so many times before I'd be right to soon..I like what I'm doing right now cause 1.0512 is kind of half way to the top of the 15m bollinger band which is about in the 1.0528-30 area...
  • #22,046
  • Jan 2, 2013 1:12am Jan 2, 2013 1:12am
Quoting DaddyBear
Can you make your message a little bit clearer?
I have no idea how that's not clear, but I don't understand what you mean with 1.04949. When did price reach this level, because I'm having a hard time trying to find the level.
Play the players, not the cards.
  • #22,047
  • Edited 1:42am Jan 2, 2013 1:27am | Edited 1:42am
So let's have a quick look at what happened earlier today, and where we might go from here.

(Please don't mind the lines and arrows)

1) As already mentioned by DaddyBear, priced retraced to 61.8% fib.

2) A 'long' opportunity presented itself with an inside bar setup with buy at 1.0405.

3) Price may retrace down to another fib level, previous high or SMA, which means 1.0405 - 1.0435.

4) Alternatively, on the upside, price may break the 61.8% fib level and proceed higher to 1.0500 (big number) - 1.0527 (next fib level), which is around the level our friend Pete seems to be targeting.

5) Price could go even further up if it wants to soar like a boss. (Supported by the fact that 61.8% is a large retracement, and may hint at a reversal in trend (uptrend) from the recent downtrend.

Trade safe.
Attached Image
  • #22,048
  • Jan 2, 2013 8:48am Jan 2, 2013 8:48am
Good morning everyone ...happy to say I got my tp again this time at 1.0512...looking to possibly short at 1.0520...just hoping that things will settle down a bit from fiscal cliff... we'll see...
  • #22,049
  • Jan 2, 2013 9:29am Jan 2, 2013 9:29am
Aud - what a tease. Monthly chart still says that aud will still go down in a major way - perhaps starting now. It is clear, however, that short term resistance/support lines won't be respected (which is why it is hard to predict at which point exactly aud will begin its move down this month).
  • #22,050
  • Jan 2, 2013 9:31am Jan 2, 2013 9:31am
Crazy aussie up 150pips in a day

Unstoppable

Cant wait to get back and start trading next week
  • #22,051
  • Jan 2, 2013 9:33am Jan 2, 2013 9:33am
Quoting maximmm
Aud - what a tease. Monthly chart still says that aud will still go down in a major way - perhaps starting now. It is clear, however, that short term resistance/support lines won't be respected (which is why it is hard to predict at which point exactly aud will begin its move down this month).
New year effect??
  • #22,052
  • Jan 2, 2013 9:41am Jan 2, 2013 9:41am
Low liquidity, aye. I've always wondered about the nature of resistance/support lines - I know that they work because banks/sovereigns use them. I guess banks/sovereigns are not playing today^^
  • #22,053
  • Jan 2, 2013 10:20am Jan 2, 2013 10:20am
Easy come, easy go!
daddybearforex. com
  • #22,054
  • Jan 2, 2013 10:22am Jan 2, 2013 10:22am
Quoting DaddyBear
Easy come, easy go!
Yes sir... now how low will it go..
Got in at 1.0520...
  • #22,055
  • Jan 2, 2013 10:35am Jan 2, 2013 10:35am
Quoting DaddyBear
Easy come, easy go!
Booty call ??
  • #22,056
  • Jan 2, 2013 10:37am Jan 2, 2013 10:37am
Quoting HelloOz
Booty call ??
I m shorting aud too
No chart
No target
  • #22,057
  • Jan 2, 2013 11:14am Jan 2, 2013 11:14am
Quoting petehnm
so it looks like the vote in favor of the bill has made the markets go crazy up....question to all of you..i have a long going on the aussie but I put a tp at 1.0410 but my broker (fxcm) doesn't open up for another hour...when they open will it close my position at market or 1.0410..I realize this is a total newbie question but if you don't ask you'll never learn..at least that's what I was taught.
Quoting petehnm
thanks jollybean...I was kinda hoping that it would get closed at the current market price...
Quoting petehnm
never mind guys just got closed out at 1.0461 instead of 1.0410 50 more pips...woooo hoooo !!!!! by the way got in at 1.0374...great way to start the week....
Congratulations, Pete

That's a great trade to start the year. As you already noticed, a limit order on the FXCM platform will get filled at the market price, if the current price is better than your specified take profit level. Here's more info on how price improvements work (http://bit.ly/TwtVwM).

Happy New Year!

Jason
  • #22,058
  • Jan 2, 2013 11:17am Jan 2, 2013 11:17am
Quoting petehnm
Yes sir... now how low will it go..
Got in at 1.0520...
lol you're on a roll today dude.
  • #22,059
  • Jan 2, 2013 11:17am Jan 2, 2013 11:17am
Quoting Jason Rogers
Congratulations, Pete

That's a great trade to start the year. As you already noticed, a limit order will get filled at the market price, if it's better than your specified take profit level. Here's more info on how price improvements work (http://bit.ly/TwtVwM).

If you have any other questions about FXCM's platforms, feel free to ask me in our discussion thread (http://www.forexfactory.com/showthread.php?p=6333279#post6333279).

Happy New Year!

Jason
Will do...thanks Jason
  • #22,060
  • Jan 2, 2013 11:54am Jan 2, 2013 11:54am
Quoting JollyBean
lol you're on a roll today dude.
Thanks bro... thinking of cashing out.. feeling the greed monster presents... lol
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