This thing could go down to 96.50 tonight there is just no demand at all. And most who are short are holding on for the ride down
- #58,404
- May 16, 2013 8:31pm May 16, 2013 8:31pm
- Joined Oct 2012 | Status: Chart can tell you everything! | 1,721 Posts | Online Now
US data is slow down the bear run.. Now bear is activated.. 
- #58,405
- May 16, 2013 8:35pm May 16, 2013 8:35pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
When the facts change I change my mind, what do you do sir
- #58,407
- May 16, 2013 8:38pm May 16, 2013 8:38pm
- | Joined Dec 2011 | Status: Rags to riches | 1,316 Posts
My targets are the blue dotted line to the downside, and white dotted for an expected pullback to resume downward. RSI is like 5, but great thing about currencies is they tend not to give a shite about overextension for some period, but the pullback is great. {image} {image}
nice charts Pip
good to see you my friend
Money never sleeps...
- #58,408
- May 16, 2013 8:39pm May 16, 2013 8:39pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
{quote} nice charts Pip
When the facts change I change my mind, what do you do sir
- #58,409
- May 16, 2013 8:42pm May 16, 2013 8:42pm
- | Joined Dec 2011 | Status: Rags to riches | 1,316 Posts
{quote} Likewise my man. Thought I was watching a horror movie with all that red on the Aussie chart lol
lol, yeah i hear you, if this continues much longer i might have to consider wiring more money into my acc
Money never sleeps...
- #58,410
- May 16, 2013 8:44pm May 16, 2013 8:44pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
{quote} lol, yeah i hear you, if this continues much longer i might have to consider wiring more money into my acc
I think a snap back would be 100-200 pips, but timing is always tricky with that.
When the facts change I change my mind, what do you do sir
- #58,412
- May 16, 2013 8:47pm May 16, 2013 8:47pm
- | Joined Dec 2011 | Status: Rags to riches | 1,316 Posts
{quote} Oh no, long? I never thought it would be this steep this quickly, but I always thought given the Aussie economy that 1.05 was overvalued. I think it's basically reverting to where it may have should have been and fed on it's self. And the big dollar doesn't help commodities much. I think a snap back would be 100-200 pips, but timing is always tricky with that.
just NZDUSD for me, nothing i cant handle
Money never sleeps...
- #58,414
- May 16, 2013 8:52pm May 16, 2013 8:52pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
{quote} just NZDUSD for me, nothing i cant handle
When the facts change I change my mind, what do you do sir
...ahahahaha
- #58,417
- May 16, 2013 9:19pm May 16, 2013 9:19pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
When the facts change I change my mind, what do you do sir
- #58,418
- May 16, 2013 9:22pm May 16, 2013 9:22pm
{quote} Currencies are a separate asset class. Correlations can seize to exist. Dollar and U.S. equities use to inverse. Fundamentally, the Aussie shouldn't have been at 1.05, although this is pretty steep. Also, I expect NZD and AUD weakness with Japan economic (not yen) strength. Dollar doesn't help Aussie's commodities out much either.
- #58,419
- May 16, 2013 9:23pm May 16, 2013 9:23pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
{quote} oh ok
When the facts change I change my mind, what do you do sir