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Aussie Trading Room and Cartoons Gallery

  • #30,061
  • May 18, 2013 1:35pm May 18, 2013 1:35pm
The other indicator is also at exceptional high. Historically, this indicated a turning point. Although I cannot say the reversal is going to happen right away, it can reverse at any time from this point.
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daddybearforex. com
  • #30,062
  • May 18, 2013 1:55pm May 18, 2013 1:55pm
The weekly support is at 0.9698. Friday low was at 0.9711. What does this mean?
daddybearforex. com
  • #30,063
  • May 18, 2013 1:57pm May 18, 2013 1:57pm
XE current rate: 0.97355
daddybearforex. com
  • #30,064
  • May 18, 2013 1:59pm May 18, 2013 1:59pm
Quoting DaddyBear
The weekly support is at 0.9698. Friday low was at 0.9711. What does this mean?
Does this mean AU will gap down to 0.9698 then bounce off from that level?
daddybearforex. com
  • #30,065
  • May 18, 2013 2:33pm May 18, 2013 2:33pm
Some people think AU will drop more and more at this juncture. There is so much fear among AU bulls. I think the best way is to look at the technical and see what could be next...
daddybearforex. com
  • #30,066
  • May 18, 2013 2:45pm May 18, 2013 2:45pm
As mentioned before, a trend change cannot be seen from the chart PA beforehand. An instrument is needed to identify the brewing of a trend change. This fact can be applied to any TF.

For example, someone mentioned H1 is still short but my instrument indicates otherwise.

http://www.forexfactory.com/attachme...1&d=1368845264
daddybearforex. com
  • #30,067
  • May 18, 2013 3:06pm May 18, 2013 3:06pm
Some very solid posts here and particularly interesting to me in the way that i choose to trade. Instead of trading trends i do actually prefer to try and spot reversal from tops and bottoms based on historical ranges combined with any 'real' shifts in fundamentals.

Im long NZD so it has made refreshing reading to me compared to the people here who seem to think the bearish trend will last forever and a day against a back drop of better economic data and the highest interest rate advantage over the rest of the world.

Just need some of the US hysteria to find reality and the bird will fly again.

Good charts, analysis and posts Daddybear
Money never sleeps...
  • #30,068
  • May 18, 2013 5:10pm May 18, 2013 5:10pm
Quoting inpatient
Some very solid posts here and particularly interesting to me in the way that i choose to trade. Instead of trading trends i do actually prefer to try and spot reversal from tops and bottoms based on historical ranges combined with any 'real' shifts in fundamentals. Im long NZD so it has made refreshing reading to me compared to the people here who seem to think the bearish trend will last forever and a day against a back drop of better economic data and the highest interest rate advantage over the rest of the world. Just need some of the US hysteria...
You are very welcome. Every dog has its day. AU is not a regular dog on the block. The dog does not bark but it bites into the bears really hard when the turn comes.
daddybearforex. com
  • #30,069
  • May 18, 2013 5:13pm May 18, 2013 5:13pm
Quoting inpatient
Some very solid posts here and particularly interesting to me in the way that i choose to trade. Instead of trading trends i do actually prefer to try and spot reversal from tops and bottoms based on historical ranges combined with any 'real' shifts in fundamentals. Im long NZD so it has made refreshing reading to me compared to the people here who seem to think the bearish trend will last forever and a day against a back drop of better economic data and the highest interest rate advantage over the rest of the world. Just need some of the US hysteria...
BTW, I don't use "stock" indicators. Stock means old school stuffs not the markets. The Forex is an ever changing world. The shear volume makes it an unique market in this world. I have been fascinated by this nature and addicted to its trading for many years.
daddybearforex. com
  • #30,070
  • Edited 5:53pm May 18, 2013 5:35pm | Edited 5:53pm
It has been said that "following the trend is the right way." I am not against this concept but shorting at this level, one needs dozens of steel balls .....
daddybearforex. com
  • #30,071
  • May 18, 2013 5:38pm May 18, 2013 5:38pm
When the bull wakes up, this is what is going to happen....
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daddybearforex. com
  • #30,072
  • May 18, 2013 5:56pm May 18, 2013 5:56pm
Grand picture, one of possibilities:
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As Above, So Below
  • #30,073
  • May 18, 2013 6:52pm May 18, 2013 6:52pm
Quoting tashkent
Grand picture, one of possibilities: http://www.forexfactory.com/attachme...1&d=1368917790
Could you indicate the range of your battle zone?
daddybearforex. com
  • #30,074
  • May 18, 2013 8:33pm May 18, 2013 8:33pm
Quoting DaddyBear
{quote} Could you indicate the range of your battle zone?
probably we will see couple of green bars on daily, next week but expecting price to fall to 0.96xx, which will be the center of the battle, around 100 pips in each direction. we should not think it will be easy to recover from this tremendous fall, just trying to filter the false hopes.
As Above, So Below
  • #30,075
  • May 18, 2013 8:42pm May 18, 2013 8:42pm
Food for thought.

Attached Image
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #30,076
  • May 18, 2013 9:10pm May 18, 2013 9:10pm
Quoting tashkent
{quote} probably we will see couple of green bars on daily, next week but expecting price to fall to 0.96xx, which will be the center of the battle, around 100 pips in each direction. we should not think it will be easy to recover from this tremendous fall, just trying to filter the false hopes.
I think a minor rebound is likely then followed by another drop.
daddybearforex. com
  • #30,077
  • May 18, 2013 9:13pm May 18, 2013 9:13pm
Quoting whatever007
Food for thought. {image}
Could you interpret this P&F pattern? Is this reliable? 88.75? Another 900 pips?
daddybearforex. com
  • #30,078
  • May 18, 2013 9:25pm May 18, 2013 9:25pm
China April Housing Inflation Quickens

Published: Saturday, 18 May 2013 | 12:13 AM ET
http://www.cnbc.com/id/100748009

Will this news turn the tide?
daddybearforex. com
  • #30,079
  • May 18, 2013 9:29pm May 18, 2013 9:29pm
The US is no longer the only economy power in the world. China is the Aussie's grandpa. Now the Chinese housing picks up the pace again. More iron ore is needed from Australia.
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daddybearforex. com
  • #30,080
  • May 18, 2013 9:40pm May 18, 2013 9:40pm
Quoting DaddyBear
China April Housing Inflation Quickens Published: Saturday, 18 May 2013 | 12:13 AM ET http://www.cnbc.com/id/100748009 Will this news turn the tide?
In this report,

"Average new home prices rose 4.9 percent last month from a year ago, after a year-on-year increase of 3.6 percent in March, according to Reuters calculations from data released by the National Bureau of Statistics (NBS) on Saturday."

So, there was an increase of 1.3 percent from March to April. This is equivalent to 15.60% increase annually. This may be bad for China but good for the Aussie IMO.
daddybearforex. com
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