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AUD/USD

  • #66,141
  • Sep 23, 2013 8:42pm Sep 23, 2013 8:42pm
Quoting Mr.C
{quote} Hey people. AUD/USD came back up after giving today's low @ 0.9362 and not hitting my TP @ 0.9360. It seems that Aussie has a senses of humor that isn't so funny to me. Anyways - wish all you guys good luck this week!
No action today with exception of some Aussie modifications. Moved SL to b/e and deleted the previous TP level. AUD/USD back to business and trying to push the price south again. Today's low @ 0,9363 is the zone. Taking it out could mean 0.9315 and furthermore 0.9232 by the end of this week.

Calling it a day. Trade safe guys!
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #66,142
  • Sep 23, 2013 9:13pm Sep 23, 2013 9:13pm
Not a return to the down trend. Not yet. I see this as a correction of the retracement to 0.9680. An ABC correction to my revised target at 0.9285. I could well be wrong but I still think there will be another leg up to come before the fall..........http://www.dailyfx.com/forex_forum/i...ilies/cool.png
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Money Makes Money
  • #66,143
  • Edited 9:39pm Sep 23, 2013 9:25pm | Edited 9:39pm
Quoting KiwiOz
Not a return to the down trend. Not yet. I see this as a correction of the retracement to 0.9680. An ABC correction to my revised target at 0.9285. I could well be wrong but I still think there will be another leg up to come before the fall..........{image} {image} {image}
Ok, so where do you think this correction of retracement ends?
(Never mind, I already figured it out, lol.)
Simple is powerful all the time.
  • #66,144
  • Sep 23, 2013 9:48pm Sep 23, 2013 9:48pm
Quoting edindzeko
I posted earlier today about AUDNZD double bottom. Looks confirmed enough for me, I am taking it long.
Here is some information regarding this pair, all information that I post in this thread is usually very selective:

http://www.efxnews.com/story/20793/i...gold-sp500-seb
http://www.dailyfx.com/forex_forum/f...ml#post1735555


I checked out chart not seen double bottom, which time frame are you referred?
Simple is powerful all the time.
  • #66,145
  • Sep 23, 2013 11:55pm Sep 23, 2013 11:55pm
Hello all,
I'd entered a limit buy yesterday @ 94023 after yesterday early asia's swing low swing high 93817-94372.
Entry was approx the 61.8 retracement.
I wasn't picked up yesterday, missed by about 5 pips but i was picked up this morning.
Yesterday i thought i thought it would test the st top which it did but today not sure so I'm just looking for 20.
Cheers
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  • #66,146
  • Sep 24, 2013 12:43am Sep 24, 2013 12:43am
Quoting RBlackburn
Good morning...! asia pacific, evening u.s.. I'm long @ 0.9408 First target @ 0.9467 (61.8% fib) Stop @ 0.9384 Also bullish and buying silver today...

On my charts I SEE 9457 AS THE .618 for the 4hr. I dont like that time frame tho, tell you why. In half the 4 hr bars are often 2 meaningless hours mixed into it at a dead time or at a slow overlapping session change. I prefer 60m and dailys for the kind of fib work youre doing. I do like the way you picked out that .618., though.

But because on the 60 min the lowest candle in the last few is 9396, i think a break below that might have me get out of my long which i still love long term and take a small taste of a short for the next day or 2. Look at it, there is nothing but air below that 9396 on the 60 min so my small pip risk will leave me a winner quite often as Im risking 25-30 pips to make 150. But getting back to your play, very good eye. Being Im still long, I will root us in. -)

***Everyone beware the immense support on the weekly charts where all the elephant money is firmly in place.(From 89-94) I say even if it breaks 91, the longs down there wont budge. Wide stops now guys. Real wide stops. We are very overdue for a couple of real big wicky/taily days that take all the stops. This pair has been well behaved of late. It wont stay this way forever. -)
  • #66,147
  • Sep 24, 2013 1:17am Sep 24, 2013 1:17am
Quoting RiverTrader
09/24 Market: Corrective dips should ideally halt near 0.9399 or 0.9380 for one more thrust upwards towards 0.9444 - 0.9470 area or 0.9509 in extention. Fall below 0.9328 puts it back on a downward path.
09/24 Market:
Corrective dips should ideally halt near 0.9399 or 0.9380 for one more thrust upwards towards 0.9444 - 0.9470 area or 0.9509 in extention. Fall below 0.9328 puts it back on a downward path.
Simple is powerful all the time.
  • #66,148
  • Sep 24, 2013 1:49am Sep 24, 2013 1:49am
Think of this as an ABC correction with wave C now in play & waves A & C being approx' equal. Wave A was in 5 waves & wave C appears to be doing the same.
Look at where the 38% & 50% Fib's are & smack in between them is the unclosed Gap..... 0.9260 is more than possible without invalidating the full retracement to 0.9680.
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Money Makes Money
  • #66,149
  • Sep 24, 2013 3:08am Sep 24, 2013 3:08am
Quoting PipTrapper
{quote} Managed to put a quick count together for you. AUD/USD Compressed daily {image}
Nothing has changed. Price playing out as I suggested... so far
Those who say it cannot be done should not interrupt those who are doing it
  • #66,150
  • Sep 24, 2013 3:09am Sep 24, 2013 3:09am
Quoting KiwiOz
Think of this as an ABC correction with wave C now in play & waves A & C being approx' equal. Wave A was in 5 waves & wave C appears to be doing the same. Look at where the 38% & 50% Fib's are & smack in between them is the unclosed Gap..... 0.9260 is more than possible without invalidating the full retracement to 0.9680. {image}
That's an excellent view KiwiOz. Good job
Those who say it cannot be done should not interrupt those who are doing it
  • #66,151
  • Sep 24, 2013 3:16am Sep 24, 2013 3:16am
Quoting KiwiOz
Think of this as an ABC correction with wave C now in play & waves A & C being approx' equal. Wave A was in 5 waves & wave C appears to be doing the same. Look at where the 38% & 50% Fib's are & smack in between them is the unclosed Gap..... 0.9260 is more than possible without invalidating the full retracement to 0.9680. {image}
ELLIOT WAVES AND FIBS? UH OH!


Kiwi, I at one time was really into waves, but found out its almost impossible to use them accurately 'and' fib levels from 3 different spots on the chart correctly at the same time. So I just dropped the waves as to be honest, dont know one guy who ever makes a living from them except Robert Prechter who sells more newsletters and books which are dead wrong than any elliot waver Ive seen in my life. Im sure you are much better. -0

May I ask if you have a special software you use to set your wave count and do you use 2 different time frames as I do with fibs. I use the 60m and daily and do just fine. And you?
  • #66,152
  • Edited 3:47am Sep 24, 2013 3:37am | Edited 3:47am
im late. i hope it will still go down. i hope it will still continue even after the end of 30m and 1h bars
  • #66,153
  • Sep 24, 2013 3:41am Sep 24, 2013 3:41am
Quoting Silat50
{quote} ELLIOT WAVES AND FIBS? UH OH! Kiwi, I at one time was really into waves, but found out its almost impossible to use them accurately 'and' fib levels from 3 different spots on the chart correctly at the same time. So I just dropped the waves as to be honest, dont know one guy who ever makes a living from them except Robert Prechter who sells more newsletters and books which are dead wrong than any elliot waver Ive seen in my life. Im sure you are much better. -0 May I ask if you have a special software you use to set your wave count and do...
Silat, I agree that EW can very easily lead a trader astray, but that happens only because the alternatives are not taken into consideration.
In this particular case, there are no alternatives. The up move is a large correction and the recent down from the high is a correction of the correction as indicated in my chart from Sunday night.
What happens after that is a different story, but this smaller abc correction will play out.
Those who say it cannot be done should not interrupt those who are doing it
  • #66,154
  • Sep 24, 2013 3:42am Sep 24, 2013 3:42am
Quoting Tiyaga
im late. will hope it will still go down
I'm long hoping i catch it on the way back to up to the support line 0.940
  • #66,155
  • Sep 24, 2013 4:00am Sep 24, 2013 4:00am
Quoting 3rotor
{quote} I'm long hoping i catch it on the way back to up to the support line 0.940
As long as you're okay with price going to 9320, you should be fine.
The USD is finding bids today so be careful.
Those who say it cannot be done should not interrupt those who are doing it
  • #66,156
  • Sep 24, 2013 4:34am Sep 24, 2013 4:34am
Quoting PipTrapper
{quote} That's an excellent view KiwiOz. Good job

CHEERS MATE.
Money Makes Money
  • #66,157
  • Sep 24, 2013 4:44am Sep 24, 2013 4:44am
Quoting Silat50
{quote} ELLIOT WAVES AND FIBS? UH OH! Kiwi, I at one time was really into waves, but found out its almost impossible to use them accurately 'and' fib levels from 3 different spots on the chart correctly at the same time. So I just dropped the waves as to be honest, dont know one guy who ever makes a living from them except Robert Prechter who sells more newsletters and books which are dead wrong than any elliot waver Ive seen in my life. Im sure you are much better. -0 May I ask if you have a special software you use to set your wave count and do...
Cheers mate. I am not an EW enthusiast even if it looks like I am. I do count the waves. Sort of. I mainly use the Tom DeMark system, hence the lines on the charts to get my targets. If they tie in with the Fib's It's a bonus. I do find recognizing Retracements in ABC form & recognizing the abc's within the Main ABC is beneficial. I have been using this system for a few years now & I still get amazed at how accurate it is. So long as I get the direction right in the first place Lol.
Money Makes Money
  • #66,158
  • Sep 24, 2013 4:49am Sep 24, 2013 4:49am
Quoting fxtyrant
{quote} A close under 1.42, that will worry me. besides.... Im a bit more worried bout you shorting after this big drop
See why im more worried about people wanting to short EURAUD at the Bottom of a big drop yesterday??
EURAUD up it goes and on its way to my target 1.4510...

AUDUSD also falling down... my target for it is 0.9180
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #66,159
  • Edited 5:19am Sep 24, 2013 5:08am | Edited 5:19am
this is gona be one heck of a post and ill show you why AUDUSD was never going to get back into rallying mode and why EURAUD wasnt gona turn bearish..
Technical wise...

Lets discuss AUDUSD first... on Monday's Open AUDUSD has already broken below the recent uptrending rally meaning its over for the bulls enjoying the ride up to 0.95, btw 0.95 proved too much of a fibo for it to bust through... and that uptrend (red) line is broken retested on the monday gap cover, and its failed to break back above it, so the rally for the AUDUSD is over....
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on EURAUD, EURAUD was never going to worry me for as long as the Uptrend was intact and we have seen that EURAUD boucned off that Uptrend line (red) on a test of it on monday.
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Now heres a whole bunch of trades that are in profit for me, on other pairs, just for you guys to enjoy, and see for yourselves if i know what i am talking about... because im not here to convince myself im a good trader, i already know i am....
its up to you guys to decide....
hopefully managing 5 different pairs with 4 pairs deeply in profit would convince you guys

You may say im showing off and stuff, but the fact is i have been advising people not to enter stupid trades and ive been saying telling people to not panic, and yet people been calling me names and saying bad stuff to me...
so if you want to keep coming at me, sure thing, i dont really care, i only care bout the trades i make.
im only as good as the trades make me.

You can call me an egotistical bastard or what ever, but as a trader self confidence is important in this game for any trader to succeed... and i have a huge self confidence that can offend, so forgive me for trying to be the good trader i am...
too many people fail because they cant picture themselves succeeding, thinking forex is just an easy game to make fast bucks, nooo... forex is something where you need to develop a huge self confidence, persistent trial and errors to find a strategy, and once a strategy is developed that fits the way you trade... you got to be 100% committed to it, and not let outsiders affect your decision making... thats why i come across as offensive because i need to defend my own belief.

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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #66,160
  • Sep 24, 2013 5:32am Sep 24, 2013 5:32am
Quoting fxtyrant
its over for the bulls
...
too many people fail because they cant picture themselves succeeding
Mate, I mean no offence, but, your call re AUDUSD is premature; you can't say it's over for the bulls. It might be; it might not. I don't think it is and hence I'm biased long, but nobody can yet say one way or the other.
Re your other observation, that's flat-out wrong; I'd call it stronger but I don't want to offend. It's quite the reverse: nearly all traders fail because they can't see themselves failing. People have a well-observed innate sense of their own "luck" which is quite disproportionate to the reality. It's a well-observed, well-known, and well-utilised human frailty employed by those wishing to avail themselves of others' money using games of chance.

If traders really perceived the *real* likelihoods of their trades failing, they wouldn't put most of them on, and those that they did put on, they would choose with more care.
I have no clue what I'm talking about.
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