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AUD/USD

  • #72,821
  • Feb 19, 2014 1:34pm Feb 19, 2014 1:34pm
Negative China data has the potential to grab Aussie down to 0.894
And if positive, to test 0.907 again
  • #72,822
  • Feb 19, 2014 4:11pm Feb 19, 2014 4:11pm
What is this?! Spike=Citi FX Pro the other=Oanda

If this is a stop hunt (@ 0.9000), it is so wrong.

Good thing I didn't have a position...
Attached Image(s) (click to enlarge)
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  • #72,823
  • Feb 19, 2014 4:54pm Feb 19, 2014 4:54pm
wow, just checked, fxpro, ibfx, and oanda don't have that spike. shady stuff by citi pro
  • #72,824
  • Feb 19, 2014 4:56pm Feb 19, 2014 4:56pm
au view
current price 0.8997

a daily close below 0.8988 should see 0.8925

along with this current inverted hs with potential right shoulder target at 0.8820
-magenta channel for neckline and top of shoulders

Attached Image (click to enlarge)
Click to Enlarge Name: aususdfeb20h4invertedhsshouldertarget.png Size: 115 KB
Wooooohooooo or Boooooohooooo
  • #72,825
  • Feb 19, 2014 5:10pm Feb 19, 2014 5:10pm
Quoting gnomoneey
au view current price 0.8997 a daily close below 0.8988 should see 0.8925 along with this current inverted hs with potential right shoulder target at 0.8820 -magenta channel for neckline and top of shoulders {image}
For an inverted H&S to play out, price would have to rise.
FF journal: Peaks and Troffs
  • #72,826
  • Feb 19, 2014 5:11pm Feb 19, 2014 5:11pm
I'm short AU
FF journal: Peaks and Troffs
  • #72,827
  • Feb 19, 2014 5:12pm Feb 19, 2014 5:12pm
Quoting Forexgogo
What is this?! Spike=Citi FX Pro the other=Oanda If this is a stop hunt (@ 0.9000), it is so wrong. Good thing I didn't have a position... {image} {image}
It happened at roll over.
FF journal: Peaks and Troffs
  • #72,828
  • Feb 19, 2014 5:23pm Feb 19, 2014 5:23pm
Quoting bogus
{quote} For an inverted H&S to play out, price would have to rise.
Careful B, USD is weak across the board

China PMI later might give short term bearish for A/U
  • #72,829
  • Feb 19, 2014 5:27pm Feb 19, 2014 5:27pm
Quoting bogus
{quote} For an inverted H&S to play out, price would have to rise.
yes it surely does....

sorry I wasn't too specific and caused some misunderstanding, but in any case here's what I'm looking at
-what I'm pointing out is the forming of the right inverted shoulder with potential target (retracement) of 0.8820
-of course a break below the head (0.8658) should invalidate the inverted
Wooooohooooo or Boooooohooooo
  • #72,830
  • Feb 19, 2014 5:29pm Feb 19, 2014 5:29pm
Quoting bogus
{quote} For an inverted H&S to play out, price would have to rise.

You are correct. The inverted head and shoulder pattern we are watching is on larger time frame. Anticipating a decline to around .88 for the shoulder to complete then a rise to around .9350-.9450 I think that is the rise in price you are referring to that needs to happen for an inverted head and shoulders.... Of course we all know that the anticipated pattern could fail badly at any point in time.
  • #72,831
  • Feb 19, 2014 5:33pm Feb 19, 2014 5:33pm
Quoting gnomoneey
{quote} yes it surely does.... sorry I wasn't too specific and caused some misunderstanding, but in any case here's what I'm looking at -what I'm pointing out is the forming of the right inverted shoulder with potential target (retracement) of 0.8820 -of course a break below the head (0.8658) should invalidate the inverted
Cool. I'm targeting .8926ish.
FF journal: Peaks and Troffs
  • #72,832
  • Feb 19, 2014 5:35pm Feb 19, 2014 5:35pm
Quoting Ken A
{quote} Careful B, USD is weak across the board China PMI later might give short term bearish for A/U
Got my stop at BE. Just waiting for news now.
FF journal: Peaks and Troffs
  • #72,833
  • Feb 19, 2014 5:37pm Feb 19, 2014 5:37pm
Quoting Rm17557
{quote} You are correct. The inverted head and shoulder pattern we are watching is on larger time frame. Anticipating a decline to around .88 for the shoulder to complete then a rise to around .9350-.9450 I think that is the rise in price you are referring to that needs to happen for an inverted head and shoulders.... Of course we all know that the anticipated pattern could fail badly at any point in time.
Yep. That would be nice
FF journal: Peaks and Troffs
  • #72,834
  • Feb 19, 2014 5:38pm Feb 19, 2014 5:38pm
Quoting bogus
{quote} Cool. I'm targeting .8926ish.
imo a daily close below 0.8988 should see 0.8925 but otherwise we might keep climbing.
Wooooohooooo or Boooooohooooo
  • #72,835
  • Feb 19, 2014 5:40pm Feb 19, 2014 5:40pm
Quoting Ken A
{quote} Careful B, USD is weak across the board China PMI later might give short term bearish for A/U
Ken, why you estimate pmi data will be bad? Last month trade balance data was good from previous month.
Peace Yo!
  • #72,836
  • Feb 19, 2014 5:43pm Feb 19, 2014 5:43pm
Quoting mrluckystar
{quote} Ken, why you estimate pmi data will be bad? Last month trade balance data was good from previous month.
I said might due to various news I read about China + Asian Indices are declining
  • #72,837
  • Feb 19, 2014 5:48pm Feb 19, 2014 5:48pm
Quoting Ken A
{quote} I said might due to various news I read about China + Asian Indices are declining
It should be green for pmi data... china trade balance was good, borrowing also increase last month... china factory might be pick up the output..Anyway we should know the result 5 min b4 the news coz china data always leak earlier..
Peace Yo!
  • #72,838
  • Feb 19, 2014 5:56pm Feb 19, 2014 5:56pm
And markets still need time to digest FOMC

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  • #72,839
  • Feb 19, 2014 6:12pm Feb 19, 2014 6:12pm
short @ .90337 trailing stop of 35
short @ .90177 trailing stop of 35
short @ .90117 trailing stop of 35

China data has not had as much impact as I thought it would, so much uncertainty. I think we are still going down.

edit... think - very bad wording and a danger sign to any trader, like a guess or holding a 1 ton weight above your head with a feather - I think it will hold..
A genius is born every minute, me I am lucky if my socks match.
  • #72,840
  • Feb 19, 2014 6:15pm Feb 19, 2014 6:15pm
Quoting whackdiddy
short @ .90337 trailing stop of 35 short @ .90177 trailing stop of 35 short @ .90117 trailing stop of 35 China data has not had as much impact as I thought it would, so much uncertainty. I think we are still going down.
You sure buddy? I'm about to go short 5 lots but getting worried with this news coming up...if its good news aussie will shoot much higher possibly going further than 0.9080
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