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AUD/USD

  • #70,001
  • Nov 27, 2013 11:56am Nov 27, 2013 11:56am
Quoting 2+2=4ex
{quote} It's the one that stands out the most for me. It's only speculation on my part.

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-11-27_1453.png Size: 69 KB


I do not look at weeklys much, but it looks like we are still trending up a little. Maybe this is a top, but is never a good idea to call tops or bottoms. Either way, in the short term there is room for some more downside.
  • #70,002
  • Nov 27, 2013 1:30pm Nov 27, 2013 1:30pm
Quoting 2+2=4ex
{quote} It's the one that stands out the most for me. It's only speculation on my part.
my ZUP indicator for MT4 draws exact the same line. as it is part of the "zig zag" recognition.

BTW: like that line as the distance between start and consolidation is similar
just do it
  • #70,003
  • Nov 27, 2013 5:59pm Nov 27, 2013 5:59pm
Good Morning!
Today's S/R levels on MT4 Templates

EURO
CABLE
AUDUSD

http://www.forexfactory.com/showthre...34#post7120134
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #70,004
  • Nov 27, 2013 6:03pm Nov 27, 2013 6:03pm
Quoting 2+2=4ex
{quote} It's the one that stands out the most for me. It's only speculation on my part.
How to explain the last low couple days ago, in your pitch fork. There is no reason to support at that point.
Outcome is not important at all, but correct technique is what only matters
  • #70,005
  • Nov 27, 2013 6:05pm Nov 27, 2013 6:05pm
I believe it is a mistake for price to go lower than 0.9160, even 0.9300.

Looking forward to its hiking.
Outcome is not important at all, but correct technique is what only matters
  • #70,006
  • Nov 27, 2013 6:05pm Nov 27, 2013 6:05pm
As we speak, another excellent data from Aussie. However, PA still capped and resisted by .9130. Unless we see a clear break above, otherwise, we are still in bearish territory.
The true fact is market doesn't care, risk mgt is important.
  • #70,007
  • Nov 27, 2013 6:55pm Nov 27, 2013 6:55pm
Quoting szpowerx
I believe it is a mistake for price to go lower than 0.9160, even 0.9300. Looking forward to its hiking.
The market don't make mistake my friend. Because unfortunately the market do not care.
The true fact is market doesn't care, risk mgt is important.
  • #70,008
  • Nov 27, 2013 7:20pm Nov 27, 2013 7:20pm
Quoting Ssm
{quote} The market don't make mistake my friend. Because unfortunately the market do not care.
But we care the market, so we assume certain condition, the market is wrong.
Outcome is not important at all, but correct technique is what only matters
  • #70,009
  • Nov 27, 2013 7:20pm Nov 27, 2013 7:20pm
Quoting Ssm
{quote} The market don't make mistake my friend. Because unfortunately the market do not care.

I see a big rally in the making today. thin markets, extreme skeptism inspite of the positive data in last 2-3 days.
  • #70,010
  • Nov 27, 2013 7:31pm Nov 27, 2013 7:31pm
Quoting szpowerx
{quote} But we care the market, so we assume certain condition, the market is wrong.
IMO, the market is never wrong my friend. There are only lots of traps where many of us unknowingly fell into it. I have my fair share of walking into these traps too after years of trading. The key to successful and profitable trading is to identify such traps and avoid it. I am still searching for the way. Pls wish me luck in my search.
The true fact is market doesn't care, risk mgt is important.
  • #70,011
  • Nov 27, 2013 7:34pm Nov 27, 2013 7:34pm
Quoting giveachance
{quote} I see a big rally in the making today. thin markets, extreme skeptism inspite of the positive data in last 2-3 days.
Its a US holiday today. Volume might be thin. Good Luck in your trade.
The true fact is market doesn't care, risk mgt is important.
  • #70,012
  • Nov 27, 2013 7:37pm Nov 27, 2013 7:37pm
Quoting Ssm
{quote} IMO, the market is never wrong my friend. There are only lots of traps where many of us unknowingly fell into it. I have my fair share of walking into these traps too after years of trading. The key to successful and profitable trading is to identify such traps and avoid it. I am still searching for the way. Pls wish me luck in my search.

I wish you all the luck in the world in your search. Price action is one identifying sign of an upcoming trap.
I believe it was Bill Williams that said "The market is neither right or wrong, at any given point the market is agreeing on price and disagreeing on value".
Trade you plan
Make sure that the light at the end of the tunnel is not an on coming train
  • #70,013
  • Nov 27, 2013 7:37pm Nov 27, 2013 7:37pm
Quoting Ssm
{quote} IMO, the market is never wrong my friend. There are only lots of traps where many of us unknowingly fell into it. I have my fair share of walking into these traps too after years of trading. The key to successful and profitable trading is to identify such traps and avoid it. I am still searching for the way. Pls wish me luck in my search.

You are right there The market is never wrong.
I went long on straddling the news at .9093, lets see if we can break this next hurdle up.
Attached Image (click to enlarge)
Click to Enlarge Name: au 281113.jpg Size: 66 KB
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  • #70,014
  • Nov 27, 2013 7:43pm Nov 27, 2013 7:43pm
Quoting bogus
{quote} You are right there The market is never wrong. I went long on straddling the news at .9093, lets see if we can break this next hurdle up. {image}
Still the same situation now... Sell rally .913
  • #70,015
  • Nov 27, 2013 7:54pm Nov 27, 2013 7:54pm
Quoting k3nshinz3139
{quote} Still the same situation now... Sell rally .913

I am confident today that aussie will not fall as much as it did the entire year.
  • #70,016
  • Nov 27, 2013 7:56pm Nov 27, 2013 7:56pm
Quoting giveachance
{quote} I am confident today that aussie will not fall as much as it did the entire year.

Ditto, i am confident the market will be back 9300 soon.
Outcome is not important at all, but correct technique is what only matters
  • #70,017
  • Nov 27, 2013 7:57pm Nov 27, 2013 7:57pm
Quoting Ssm
{quote} IMO, the market is never wrong my friend. There are only lots of traps where many of us unknowingly fell into it. I have my fair share of walking into these traps too after years of trading. The key to successful and profitable trading is to identify such traps and avoid it. I am still searching for the way. Pls wish me luck in my search.
I enjoyed the feeling in trap. Cause, as far as not killed, i will grow stronger.
Outcome is not important at all, but correct technique is what only matters
  • #70,018
  • Nov 27, 2013 8:08pm Nov 27, 2013 8:08pm
Quoting 5percent
Bounce on 0.9070 is likely to provide some support for today, till tmr's aud's data. 0.9070 is one of the weekly r t s level. confirmation will only be confirmed once previous support of 0.9140 is reclaimed back. Yesterday's lo near 0.9090 will also provide a test if any support turns resistance. Mid-term 0.9210 is main resistance. previously 0.9269-80 provided 2-3 support bounce, any pull back likely to face some test there as well. {image}

1 lower high near 0.9140 provided support turns resistance yesterday, currently still the resistance from the earlier AUD's news spike up.

2nd lower high at 0.9205-10 zone. 0.9200 was the first bounce it provided from 0.9200-45 area.

Our previous old support was 0.9269-80 where it provided the up-trend support to 0.97 and 0.95, and last @ 0.9440 just 1 week ago before the move down.

Potential mid-term strong support turns resistance test @ 0.9269-80 zone.

1 lower high @ 0.9140 if ignited and closed above post challenge for 0.9175-80, one of the support channel when price was trading near 0.9200 2 days ago.

If price can climbed above 0.9210, above 2nd lower high is a very bullish sign, as retracement is formed.

All in technical view.

Seller are continue selling near 0.9130-40 with stop above 45-50. 2nd location of selling is near 0.9180 before 0.9200.

After 0.9210, forget about selling as trend might have change.

After 0.9210, there's 1 more last lower high at 0.9245-50 zone.

I personally, bought from 0.9070 from weekly RTS, will only invalidate if close below my support level. Short-term looking for pullback instead coming to month end, but am opened if selling may continue to go lower.
  • #70,019
  • Nov 27, 2013 8:12pm Nov 27, 2013 8:12pm
Quoting bogus
{quote} You are right there The market is never wrong. I went long on straddling the news at .9093, lets see if we can break this next hurdle up. {image}
Yes Sir, if we can have a clear break of .9130 and above today, then the bulls are out of the woods.
Unfortunately, despite the good data, we are still resisted by this level.
The true fact is market doesn't care, risk mgt is important.
  • #70,020
  • Nov 27, 2013 10:22pm Nov 27, 2013 10:22pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 102 KB


There is a ascending demand line and a fib 78.6% coincide at one point which may be the turning point of AUDUSD. I prepare to buy the AUDUSD @0.9040 with targeting around 0.9300 or near the descending demand line as shown in the chart. Currently AUDUSD move around 0.9120 …. Wait for the setup to enter the trade.
Twitter : @Autofxtrading
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