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AUD/USD

  • #64,661
  • Sep 10, 2013 10:09am Sep 10, 2013 10:09am
checking out. see you in 4 hrs
the cautious seldom err....C
  • #64,662
  • Sep 10, 2013 10:18am Sep 10, 2013 10:18am
Quoting pips29
fvck! my position on this after 4 hrs{image}
could it be because there were less volume at the higher price? I'm referring to the volume screenshot earlier I posted. just my 2 cents.
  • #64,663
  • Sep 10, 2013 2:00pm Sep 10, 2013 2:00pm
Can anyone of you far more seasoned players explain to the rest of us where we go from here and why? I see a few targets of .9344 before the unenjoyment reports tommorow.


Regards-


Learning curve
  • #64,664
  • Sep 10, 2013 2:11pm Sep 10, 2013 2:11pm
Quoting pips29
is this a valid AB=CD pattern?1271576 {image}
Hey, for it to be a valid ABCD BC must retrace beyond 50 in fact you must look at the 61.8/78.6 and trade the D reversal as it is a reversal pattern; but you made your pips sir at the bounce of support so kudos
  • #64,665
  • Sep 10, 2013 2:13pm Sep 10, 2013 2:13pm
Could we see a slight rebound here at the .9315-.9320 mark? Seemed to provide one back on July 23rd
  • #64,666
  • Sep 10, 2013 2:24pm Sep 10, 2013 2:24pm
Quoting GqOrlando
{quote} Hey, for it to be a valid ABCD BC must retrace beyond 50 in fact you must look at the 61.8/78.6 and trade the D reversal as it is a reversal pattern; but you made your pips sir at the bounce of support so kudos
Hey GqOrlando,

Thanks for answering my question on last page.
So, looks like it is a 4H chart, and 61.8% from C to D is at around 0.9190-0.9185.
78.6% is even below it, as a bounce, if C (0.9115) and D (current 0.9318 play a reversal).

Correct me if wrong?
Simple is powerful all the time.
  • #64,667
  • Sep 10, 2013 2:33pm Sep 10, 2013 2:33pm
Quoting RiverTrader
{quote} Hey GqOrlando, Thanks for answering my question on last page. So, looks like it is a 4H chart, and 61.8% from C to D is at around 0.9190-0.9185. 78.6% is even below it, as a bounce, if C (0.9115) and D (current 0.9318 play a reversal). Correct me if wrong?
no worries, but you need to draw your fibs from A-B and C must be around 61.8/78.6 (0.9005/0.8955) then D must extend 1.27 to 1.618: this should be your reversal area

Beware this is not a valid ABCD
  • #64,668
  • Sep 10, 2013 2:40pm Sep 10, 2013 2:40pm
Quoting forexalien
{quote} Are you still in this Ultra Bear trade still ?
nope look at my trade explorer and you'll realise it hit SL...
but nothing damaging.... but im still looking for an opportunity to short the AUDUSD up here.. problem is i need a divergence trade to develop first....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #64,669
  • Sep 10, 2013 2:41pm Sep 10, 2013 2:41pm
Quoting GqOrlando
{quote} no worries, but you need to draw your fibs from A-B and C must be around 61.8/78.6 (0.9005/0.8955) then D must extend 1.27 to 1.618: this should be your reversal area Beware this is not a valid ABCD
OK, from your description: I got D is at 0.9350 also. But, you know this is not a valid pattern, as C was not at that low (0.9005/0.8955).
Simple is powerful all the time.
  • #64,670
  • Sep 10, 2013 2:43pm Sep 10, 2013 2:43pm
Good morning!

Assuming we find resistance here.... 0.9318-20. We could see a move back towards the 23.6% FIB around the 0.9200 area. IMO a 1hr close back below 0.9300 would be a reason to get short...
Attached Image (click to enlarge)
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  • #64,671
  • Sep 10, 2013 2:46pm Sep 10, 2013 2:46pm
Trading above 0.9325 would mean the next stop is likely the R1 @ 0.9347
Attached Image (click to enlarge)
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  • #64,672
  • Sep 10, 2013 2:49pm Sep 10, 2013 2:49pm
Quoting fxtyrant
{quote} nope look at my trade explorer and you'll realise it hit SL... but nothing damaging.... but im still looking for an opportunity to short the AUDUSD up here.. problem is i need a divergence trade to develop first....
Hey fxtyrant,

Don't know if you missed it but you have some pretty good negative 1hr RSI divergence imo
Attached Image (click to enlarge)
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  • #64,673
  • Sep 10, 2013 2:50pm Sep 10, 2013 2:50pm
checking the macd timeframe 4H and daily, seem that the rising should last for a while (for long term trade).
on the weekly chart, just a spike in uprising...
in any case, the price will do whatever he wants, despite macd,macgyver, ema & emo and so on...
  • #64,674
  • Sep 10, 2013 2:53pm Sep 10, 2013 2:53pm
Quoting RBlackburn
{quote} Hey fxtyrant, Don't know if you missed it but you have some pretty good negative 1hr RSI divergence imo {image}
i dont trade any divergence under 1HR... very unreliable....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #64,675
  • Sep 10, 2013 3:01pm Sep 10, 2013 3:01pm
Quoting fxtyrant
{quote} nope look at my trade explorer and you'll realise it hit SL... but nothing damaging.... but im still looking for an opportunity to short the AUDUSD up here.. problem is i need a divergence trade to develop first....
Agree, there still nothing that says short other than the range´s resistance. My stoch histo is showing mild divergence but what´s more important in my opinino are the levels here.

Even if we get a move south we might just be correcting 140 pips for a big move higher. I´m also looking to short term short this if we get it and will be looking at the orange area´s reaction to decide upon my position later.

http://i.imgur.com/GU4VF4p.jpg
  • #64,676
  • Sep 10, 2013 3:32pm Sep 10, 2013 3:32pm
Quoting GqOrlando
{quote} Hey, for it to be a valid ABCD BC must retrace beyond 50 in fact you must look at the 61.8/78.6 and trade the D reversal as it is a reversal pattern; but you made your pips sir at the bounce of support so kudos
Do you mean the retracement to 23.6
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #64,677
  • Sep 10, 2013 3:34pm Sep 10, 2013 3:34pm
Quoting pips29
{quote} Do you mean the retracement to 23.6 {image}
yes that one!
  • #64,678
  • Sep 10, 2013 3:36pm Sep 10, 2013 3:36pm
Quoting fxtyrant
{quote} i dont trade any divergence under 1HR... very unreliable....
No worries mate... i'm just scalping this see how we go!
  • #64,679
  • Sep 10, 2013 3:39pm Sep 10, 2013 3:39pm
after 10-11hrs, finally..
Attached Image (click to enlarge)
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Tested my patience to the limit. If not for the match (ukraine v england) which I was watching and not online for 5 or more hrs, I would have prolly cut this pair off. Hope it pays
the cautious seldom err....C
  • #64,680
  • Sep 10, 2013 3:45pm Sep 10, 2013 3:45pm
Quoting GqOrlando
{quote} yes that one!

thks so much. I just learn something new. so much more to learn
the cautious seldom err....C
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