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Aussie Trading Room and Cartoons Gallery

  • #26,761
  • Feb 2, 2013 8:57am Feb 2, 2013 8:57am
Quoting chiknthief
Yes DB, there are mountains ahead but we gotta go through the gorge before we get there.
Can we fly over the gorge if any?
daddybearforex. com
  • #26,762
  • Feb 2, 2013 8:59am Feb 2, 2013 8:59am
Quoting DaddyBear
Can we fly over the gorge if any?

They only allow hot air balloons over the gorge. lol
  • #26,763
  • Feb 2, 2013 9:00am Feb 2, 2013 9:00am
Quoting PayTheLimit
it may, but it will be an area I'll be considering, I also have 1.0620 on my chart which is not shown btw..
Let's see next week...
daddybearforex. com
  • #26,764
  • Feb 2, 2013 9:02am Feb 2, 2013 9:02am
Quoting chiknthief
They only allow hot air balloons over the gorge. lol
That would be fine.

http://www.forexfactory.com/attachme...1&d=1342013356
daddybearforex. com
  • #26,765
  • Feb 2, 2013 9:04am Feb 2, 2013 9:04am
Quoting DaddyBear
Let's see next week...
indeed, enjoy your weekend...
Look Sharp/Trade Tight
  • #26,766
  • Feb 2, 2013 9:05am Feb 2, 2013 9:05am
Quoting DaddyBear
That would be fine.

http://www.forexfactory.com/attachme...1&d=1342013356

The bears have many arrows. The gorge is well guarded. Hot air balloons and sharp arrows is bad medicine.
  • #26,767
  • Feb 2, 2013 9:19am Feb 2, 2013 9:19am
In the very near future :
Attached Image
  • #26,768
  • Feb 2, 2013 9:29am Feb 2, 2013 9:29am
BULLS - come join the horses on the canyon floor. The grass is real good down there.
Attached Image (click to enlarge)
Click to Enlarge Name: Jemez Canyon.2.jpg Size: 205 KB
  • #26,769
  • Feb 2, 2013 10:51am Feb 2, 2013 10:51am
DaddyBear
2+2=4ex
USD-Bear
Mr. Scott
forexalien


thanks guys for the replies. after 40 - 50 pips i was setting SL to BE
i will close half of the position and try to let other half run
  • #26,770
  • Feb 2, 2013 11:05am Feb 2, 2013 11:05am
Quoting forexalien
Does your the inverse hammer candle rule always work?
Yep, but to be perfectly honest, it doesn't necessarily mean that we'll see a big continuous move down. In fact, if a move up is in the cards, we may actually see a hammer candle for the next month.
  • #26,771
  • Feb 2, 2013 11:08am Feb 2, 2013 11:08am
Quoting DaddyBear
Using candlesticks literally may lead one to believe an illusion as a solid object. Could you zoom out the chart to get a bigger picture?
Monthly chart is as far as my chart goes - sorry^^
  • #26,772
  • Feb 2, 2013 11:13am Feb 2, 2013 11:13am
one important element which may play a role in all this - market is going through some extraordinary times right now. usdjpy has been on the move up 12 weeks straight.... this is unprecedented. Eurusd has been on the move up for 6 months straight - something it has not achieved since 2003. Whatever aud does, I suspect it will be equally amazing in scope - and when it happens, tech/candle/elliot wave analysis will likely not apply, unless unless one looks strictly at the long term chart (monthly/weekly).

Of course.... first, aud has to leave the triangle zone^^

Come to think of it, usdgbp is right at the border of a 3 year old triangle -
the multi-year triangle formation plays are nearing their conclusions.
  • #26,773
  • Feb 2, 2013 11:59am Feb 2, 2013 11:59am
Quoting maximmm
Yep, but to be perfectly honest, it doesn't necessarily mean that we'll see a big continuous move down. In fact, if a move up is in the cards, we may actually see a hammer candle for the next month.
Monthly candles are work in progress.....The final product.....
LTF's are the parts needed to build that final product.......
The More You Learn, The More You Earn.....
  • #26,774
  • Feb 2, 2013 1:28pm Feb 2, 2013 1:28pm
LTFs have been quite unpredictable in audusd - in the past few months. Thus, relying on the already closed monthly candles seems to make more sense.
If I were to judge things by looking at the weekly chart, I would say that there is a 50% chance of a move up next week - doji. Once again though - there is a chance of next month being yet another consolidation month. Right now, it's all about jpy - market doesn't care about aud anymore^^
  • #26,775
  • Feb 2, 2013 2:18pm Feb 2, 2013 2:18pm
Quoting maximmm
Monthly chart is as far as my chart goes - sorry^^
Don't look at those two candles only. You are seeing two trees not the forest.
daddybearforex. com
  • #26,776
  • Feb 2, 2013 2:33pm Feb 2, 2013 2:33pm
Quoting maximmm
LTFs have been quite unpredictable in audusd - in the past few months. Thus, relying on the already closed monthly candles seems to make more sense.
If I were to judge things by looking at the weekly chart, I would say that there is a 50% chance of a move up next week - doji. Once again though - there is a chance of next month being yet another consolidation month. Right now, it's all about jpy - market doesn't care about aud anymore^^
"there is a 50% chance of a move up next week." Are you saying "there is also a 50% chance of a move down next week"? Your message gave no clues and showed no directions.

http://www.forexfactory.com/attachme...1&d=1342182564
daddybearforex. com
  • #26,777
  • Feb 2, 2013 4:32pm Feb 2, 2013 4:32pm
Quoting DaddyBear
"there is a 50% chance of a move up next week." Are you saying "there is also a 50% chance of a move down next week"? Your message gave no clues and showed no directions.

http://www.forexfactory.com/attachme...1&d=1342182564
To sum up what is happening to the AUD is that everyone is piling into the jpy and everyone is piling into the EUR and the euraud. Is moving so no movement is expected with the AUD. It is a dog for now. The chf may be the next big mover.
The More You Learn, The More You Earn.....
  • #26,778
  • Feb 2, 2013 4:36pm Feb 2, 2013 4:36pm
I see the AUD/USD pair stuck dead center in a relatively tight 4% range (weekly price chart) and compressing. Top of range is 1.0625, bottom is 1.0225. Current price is sitting dead on a point of support. Price Action and fundamental factors bias look to me like this will take us to the 1.0250 level and possibly parity quite soon if the 1.2500 price is broken and held.

Any feedback?

Thanks,

sjc
  • #26,779
  • Edited 8:14pm Feb 2, 2013 5:45pm | Edited 8:14pm
Quoting Coondawg71
I see the AUD/USD pair stuck dead center in a relatively tight 4% range (weekly price chart) and compressing. Top of range is 1.0625, bottom is 1.0225. Current price is sitting dead on a point of support. Price Action and fundamental factors bias look to me like this will take us to the 1.0250 level and possibly parity quite soon if the 1.2500 price is broken and held.

Any feedback?

Thanks,

sjc
Welcome Coondawg71. What is your rationale?
daddybearforex. com
  • #26,780
  • Feb 2, 2013 8:21pm Feb 2, 2013 8:21pm
Thank you for the greetings,

1. Daily chart attached. Here is one way that I see it...Aud/Usd vs Aud/Nzd lagging correlation on the Daily chart.

2. Weekly chart shows price breaking down.

3. Shortest cycle period has already rolled over and price is declining. Last weekly price bar was low volume, low volatility Doji.

I very well could be wrong but that is what appears to be happening. Feb 6 will mark the 60 day period mark from the last Strong Sell signal.

thanks,

sjc
Attached Image (click to enlarge)
Click to Enlarge Name: Aussie vs AudNzd.jpg Size: 127 KB
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