I like what I see so far... going to take 1/2 off to protect.
GL
GL
- #71,143
- Dec 30, 2013 10:25am Dec 30, 2013 10:25am
- Joined May 2012 | Status: I'm Pawning 95Percent | 1,407 Posts
- #71,146
- Dec 30, 2013 11:01pm Dec 30, 2013 11:01pm
{quote} no offence, its either u have your own special application of fibo. or u are using it wrongly, same for harmonic. look around for usage of fibo. I am a fibo trader, there's both way of using it, but what u have shown doesn't make sense to me.
Thanks for your response, great to see discussions
I am not sure which chart you refer to (daily / h1 / weekly?)
I can see the weekly, that i draw the Fib as an inverse, not sure if this is in the books , but i use fib extensions a lot to find potential high prob setups for reversals...
With harmonic bat pattern,
the A to B leg was over 50% retrace but never did touch the 61.8% - (could be an argument...)
it wasn't the perfect setup for a good bullish bat, however it did work out , and the area i thought it could continue lower we flown past that, and reaching a supply and demand level which i drawn in grey now. - good place for a short!
Only the strong survives!
- #71,147
- Dec 30, 2013 11:20pm Dec 30, 2013 11:20pm
Hey guys, My input of my view of the aussie usd which I wrote on my blog. Please visit my profile if you want to check it out . Cheers --Below is a copy --- AUDUSD Daily , Weekly Outlook for 30th December, 2013 (MONDAY) Weekly Chart {image} AUDUSD Weekly - 2013-12-30_18-08.jpg Trend is Bearish Stochastics is oversold but flat RSI pointing slightly down and above 30 At a important level of support Looking at the weekly, it seems oversold, however further...
At the time of writing a reply above to a forexfactory member, the aussie reached its supply and demand area for a good good short opporunity - personally i missed it while writing lol.. thats ok, another opportunity will come!
Happy new year!
Please check out my blog / twitter / facebook - click on my profile
Only the strong survives!
- #71,149
- Dec 31, 2013 9:29am Dec 31, 2013 9:29am
{quote} Although my trade setup plan from yesterday failed (noted it was a high risk trade)- both levels for short was way off, however my initial view of a bullish bat worked perfectly. At the time of writing a reply above to a forexfactory member, the aussie reached its supply and demand area for a good good short opporunity - personally i missed it while writing lol.. thats ok, another opportunity will come! {image} Happy new year! Please check out my blog / twitter / facebook - click on my profile
For those who traded the supply and demand from post above should be able to get some good pips today!
______________
Below copy of my blog post for an update!
Just a quick update on how Aussie is travelling
Earlier today we had a range to trade a supply and demand area, now it looks like its going up to look for an area which is FRESH.
Earlier I took the one below, however price action seems to be pushing higher, and because this level never been retested, it proves a higher chance to do so!
happy trading!
Only the strong survives!
- #71,150
- Dec 31, 2013 11:14am Dec 31, 2013 11:14am
- Joined Mar 2009 | Status: Trader | 6,418 Posts
The fact that Aud did not participated in the recent rally as compared to other major currencies shows that Aud is still weak. When the other currencies pair retraces from their highs, Aud followed suit but without the rally. Means there is hardly any bulls strength in there. Just my observation.
- #71,152
- Dec 31, 2013 1:11pm Dec 31, 2013 1:11pm
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
Happy New Year Gamblers!
On the 4 hour chart AU might have put in a double bottom. A move above .8960 ish would be bullish to me.
I'm watching the .8920-30 area
On the 4 hour chart AU might have put in a double bottom. A move above .8960 ish would be bullish to me.
I'm watching the .8920-30 area
FF journal: Peaks and Troffs
- #71,154
- Dec 31, 2013 8:14pm Dec 31, 2013 8:14pm
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
FF journal: Peaks and Troffs
Happy New Year Gamblers!
The true fact is market doesn't care, risk mgt is important.
- #71,157
- Dec 31, 2013 9:48pm Dec 31, 2013 9:48pm
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
FF journal: Peaks and Troffs
