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  • #29,901
  • May 16, 2013 8:30pm May 16, 2013 8:30pm
watch for bounce at 0.98 and short with small sl. R:R will be great.
As Above, So Below
  • #29,902
  • May 16, 2013 8:38pm May 16, 2013 8:38pm
I expect a small pullback (white line) before heading down to targets (blue line).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-05-16-TOS_aussie.png Size: 136 KB
Click to Enlarge Name: AUDUSD_5_16_13.png Size: 148 KB
When the facts change I change my mind, what do you do sir
  • #29,903
  • May 16, 2013 8:55pm May 16, 2013 8:55pm
2 Fib levels seem to meet around .97 and .971 so Im looking there for a bounce
  • #29,904
  • May 16, 2013 9:13pm May 16, 2013 9:13pm
Quoting DaddyBear
There are a lot of knowledge one can learn but there are something one cannot learn. Trading is an art. The methodology and old school teaching can be learned but not the art itself. The art can only be realized through one's mind reflections and imaginations. Had Picasso learned how to paint, he would never exceed his teacher's achievement and became "Picassso". {image}
Good one DB, Thanks for the Food for thought.
Weigh well output the loss and gain And proper action ascertain
  • #29,905
  • May 16, 2013 9:17pm May 16, 2013 9:17pm
Looking at .975 for a bounce might go down as low as 97.
  • #29,906
  • May 16, 2013 9:21pm May 16, 2013 9:21pm
Quoting whatever007
Not quite a complete pattern, but dang this thing needs to bounce at some point. {image}
This pattern looks like it will complete tonight. Actually the way it's falling it might complete by the time I finish typing this post. Here's a look at AJ.

Attached Image (click to enlarge)
Click to Enlarge Name: AJ 5-16.png Size: 62 KB
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #29,907
  • May 16, 2013 9:45pm May 16, 2013 9:45pm
I posted a few days ago here that Morgan Stanley says we are going down to .80xx and one of the best currency hedge funds says .60x I realize that Morgan Stanley may not be the best predictor of Forex but just saying......I have no positions here but would hate to be long. This is a train wreck
  • #29,908
  • May 16, 2013 9:49pm May 16, 2013 9:49pm
Quoting DaddyBear
{quote} Whether or not she will go up in a hurry is unknown at this point but I do know she will go up...... {image}
You Do........?
The More You Learn, The More You Earn.....
  • #29,909
  • May 16, 2013 9:51pm May 16, 2013 9:51pm
Quoting HelloOz
0.985 has become resistance? doesnt look good for bulls and me..
that was almost 100 pips ago, 2 hours ago............
The More You Learn, The More You Earn.....
  • #29,910
  • May 16, 2013 9:52pm May 16, 2013 9:52pm
Quoting Rag2RichesFX
Attempting to catch falling knife.. long from 9780 edit: failing pretty hard so far.. this move is absolutely crazy! seems like it has to be the final down move for the week...
You should know better than this ..................LOL
The More You Learn, The More You Earn.....
  • #29,911
  • May 16, 2013 9:53pm May 16, 2013 9:53pm
Quoting tashkent
watch for bounce at 0.98 and short with small sl. R:R will be great.
It never happened that bounce........at .98
The More You Learn, The More You Earn.....
  • #29,912
  • May 16, 2013 11:43pm May 16, 2013 11:43pm
Opened long @ .9745 see how we go...
  • #29,913
  • May 17, 2013 12:16am May 17, 2013 12:16am
Quoting Arman_A
Opened long @ .9745 see how we go...
The trend is your friend. Don't try to trade against it as the risk is to higher in this case. I did the observation about trading in May and it was almost in red zone each year. You know- "Sell in May and go away!" I wish you all the best with your trading.
I'm short from 0.9837 and add today one more position from 0.9745. The target is 0.9150 based on Fibo monthly time frame.
  • #29,914
  • May 17, 2013 1:04am May 17, 2013 1:04am
Quoting tashkent
{quote} DB, you have been saying (the better word is implying) all the way long every single bounce a reversal. definitely at some point it will reverse. but sometimes people need to accept that they were wrong. i am a bull on this pair and i am underwater (small size, still that does not matter) however i do not think the down trend is over yet. this strong fall will not give up easily. buyers are defending 0.98 hard this is the most strongest resistance so far, of course relatively (i would not even consider these bounces even a valid bounce,...
BTW, I had never tried to make multiple calls until a reversal occurred to show that I was great. What incentive could I get from posting such messages?

I trade short term. The end of a wave is a bottom or a top to me. Whether or not they are the reversal points is not my concern. I don't hold position from the very bottom to the very top. Even if I did get in at the very bottom, I would exit when the wave ended.
daddybearforex. com
  • #29,915
  • Edited 5:09am May 17, 2013 1:41am | Edited 5:09am
Sup guys...

As I mentioned yesterday, one more leg down, and this looks like it's it.

Could go down a little more IMO, but I've taken a good long from here, and holding to eternity.

Also opened a long on NZD/USD.

Quoting JollyBean
Technicals are telling me that there's probably one more down leg to go, before any good upward movement.
  • #29,916
  • May 17, 2013 4:29am May 17, 2013 4:29am
Still trapped in GBPAUD now almost 340 pips negative ,,
pls look that pair share ur views about it on weekly chart,,
i am short on this pair
  • #29,917
  • May 17, 2013 5:05am May 17, 2013 5:05am
Quoting yazzie
I posted a few days ago here that Morgan Stanley says we are going down to .80xx and one of the best currency hedge funds says .60x I realize that Morgan Stanley may not be the best predictor of Forex but just saying......I have no positions here but would hate to be long. This is a train wreck
they are driving fear to the market. to trap positions everywhere for those using high leverage.

rem when gbp sold off from 1.63 into 1.4830, everyone claims 1.44
then it rebounded to 1.56.
  • #29,918
  • May 17, 2013 5:13am May 17, 2013 5:13am
I have also oppened long and pray it will now go up atleast a little so i can break even.
  • #29,919
  • May 17, 2013 5:27am May 17, 2013 5:27am
Hi guys, rather new to the thread, slightly disappointed by the AUD Weakness...
i thought historic ranges would hold at 0.98 for AUDUSD
i hope this is just a fake flushout of orders below for a possible bounce...
i really dont see how a currency like AUD is on the verge of weakening as much as the japs are...
0.95 is like the last line of defense for AUD traders like me who trust in the high yield carry trades...

im Long AUDUSD, AUDNZD, AUDSGD and Short EURAUD...
all these pairs are currently biting my ass :/
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #29,920
  • May 17, 2013 5:38am May 17, 2013 5:38am
Look how their stock markets perform when their currency devalues. US Japan etc etc The markets can remain irrational
longer than you can remain solvent
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