major support lies around .8175
- #68,703
- Oct 29, 2013 11:09pm Oct 29, 2013 11:09pm
- Joined Oct 2012 | Status: Chart can tell you everything! | 1,721 Posts | Online Now
- #68,706
- Oct 29, 2013 11:28pm Oct 29, 2013 11:28pm
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
FF journal: Peaks and Troffs
- #68,707
- Oct 29, 2013 11:29pm Oct 29, 2013 11:29pm
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
.9480 - the fibo at .9460 seems to have held and now its nuts in the vice time. I see Moody's discussed cutting NZ from AAA.. now is that because their growth is good? (sarcasm) How are rating agencies still in business when their rating are meaningless.
Rating agencies aren't worth a knob of goatshit (IMHO)
FF journal: Peaks and Troffs
- #68,710
- Oct 29, 2013 11:48pm Oct 29, 2013 11:48pm
- Joined Aug 2008 | Status: Trader | 3,386 Posts
{quote} Rating agencies aren't worth a knob of goatshit (IMHO)
- #68,711
- Oct 30, 2013 12:27am Oct 30, 2013 12:27am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #68,713
- Oct 30, 2013 1:04am Oct 30, 2013 1:04am
- Joined Aug 2008 | Status: Trader | 3,386 Posts
{image}
Market has been spooked by RBA jawboning.
Who is long ? everyone calling for shorts again.
Im hearing option expiry of $1 Billion at .9500 later today
Happy Punting
{quote} Thats what i think too
Parity and above will be the norm in a few months. Hopefully exporters have used yet another chance to hedge!!
- #68,715
- Oct 30, 2013 1:13am Oct 30, 2013 1:13am
{quote} Thats what i think too
Very quiet around here. So here goes nothing.
I think the bears have stopped licking their lips and have realised they may be licking their wounds soon. Bulls are tossing up between 1.00 & 1.03 as a major TP area where they will sit and wait for a retrace to jump back in again after which 1.03 & 1.06 become TP areas. At this point bears realise they have been wrong for the last 1000 to 1200 pips but its too late to go long now and either have to stay short or add to drowning shorts... that is if they have any equity left.
Who's with me!!
I think the bears have stopped licking their lips and have realised they may be licking their wounds soon. Bulls are tossing up between 1.00 & 1.03 as a major TP area where they will sit and wait for a retrace to jump back in again after which 1.03 & 1.06 become TP areas. At this point bears realise they have been wrong for the last 1000 to 1200 pips but its too late to go long now and either have to stay short or add to drowning shorts... that is if they have any equity left.
Who's with me!!
- #68,719
- Oct 30, 2013 5:34am Oct 30, 2013 5:34am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Very quiet around here. So here goes nothing. I think the bears have stopped licking their lips and have realised they may be licking their wounds soon. Bulls are tossing up between 1.00 & 1.03 as a major TP area where they will sit and wait for a retrace to jump back in again after which 1.03 & 1.06 become TP areas. At this point bears realise they have been wrong for the last 1000 to 1200 pips but its too late to go long now and either have to stay short or add to drowning shorts... that is if they have any equity left. Who's with me!!
With that out of the way, and it being know that I have no stake in whichever way this currency runs, I am in a position to be as objective as possible.
So here goes... I have a couple of questions which I hope you can answer.
1. If indeed this pair does head for the hills (parity or above), what do you figure would be the catalyst and the cause... driving force if you like?
2. From my perspective, China has it's own crisis to deal with and their pain will not be eased until such time as they are able to ramp up their exports to their two largest markets. 1. The US. 2. The EU. Under current conditions, that's not about to happen any time soon. Until such time, Australia's mining industry (primary industry) will remain subdued and face stiff competition from other hard commodity countries. In order to compete, Australia needs a soft dollar and anything above parity kicks them out of the game. So, at an exchange rate at or above parity, how do you think the RBA is going to react?
Clarification: I said I have no stake in "this pair". I do however have some stake in the Aussie vs the Kiwi and the Euro as I am long AUD/NZD and Short EUR/AUD.
Those who say it cannot be done should not interrupt those who are doing it
Very quiet around here. So here goes nothing. I think the bears have stopped licking their lips and have realised they may be licking their wounds soon. Bulls are tossing up between 1.00 & 1.03 as a major TP area where they will sit and wait for a retrace to jump back in again after which 1.03 & 1.06 become TP areas. At this point bears realise they have been wrong for the last 1000 to 1200 pips but its too late to go long now and either have to stay short or add to drowning shorts... that is if they have any equity left. Who's with me!!
I'm still waiting to see more evidence to make me close all shorts.
BTW, does anyone know how to add cross line MACD in MT4(mobile version)？ MACD showed divergence 0.9480 - 0.9460, I should closed all shorts earlier.