There is no spoon....
- #66,343
- Feb 26, 2014 3:54pm Feb 26, 2014 3:54pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #66,347
- Feb 26, 2014 4:58pm Feb 26, 2014 4:58pm
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
AU.
This is what I see with this pair.
On the M15 we may be looking at a potential Classic long setup.
When looking at the H1 for PVSRA confirmation we can that the most volume is occurring at the lows below the half number (0.89500) indicating bulls.
Lastly on the DAY chart there has been an array of hammers forming the past few days.
With that all being done and said we can't know how price may move next but if I had to guess I would bet that AU is bullish and could possibly see lift off on the news release in the next hour and a half. I may go long if the classic long setup completes and the news doesn't come out bad.
Just my take
This is what I see with this pair.
On the M15 we may be looking at a potential Classic long setup.
When looking at the H1 for PVSRA confirmation we can that the most volume is occurring at the lows below the half number (0.89500) indicating bulls.
Lastly on the DAY chart there has been an array of hammers forming the past few days.
With that all being done and said we can't know how price may move next but if I had to guess I would bet that AU is bullish and could possibly see lift off on the news release in the next hour and a half. I may go long if the classic long setup completes and the news doesn't come out bad.
Just my take
- #66,348
- Edited 5:27pm Feb 26, 2014 5:14pm | Edited 5:27pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
AU. This is what I see with this pair. On the M15 we may be looking at a potential Classic long setup. When looking at the H1 for PVSRA confirmation we can that the most volume is occurring at the lows below the half number (0.89500) indicating bulls. Lastly on the DAY chart there has been an array of hammers forming the past few days. {image} With that all being done and said we can't know how price may move next but if I had to guess I would bet that AU is bullish and could possibly see lift off on the news release in the next hour and a half....
"With that all being done and said we can't know how price may move next but if I had to guess I would bet that AU is bullish and could possibly see lift off on the news release in the next hour and a half. I may go long if the classic long setup completes and the news doesn't come out bad.
Just my take
" - SaiLyfeeOr, the MMs might hold off on the bull move until the USD releases tomorrow. Now, if the AUD release is good, it will confound traders if the MMs hold it back, or better yet, if the MMs whack it! That is what I think could happen,....a good release, yet the price gets whacked, until tomorrow. But, the whacking might not happen right away. The MMs are dirty devils. They'll want longs to buy in first, because they'll want longs to stop out when they whack the price!
Then tomorrow, the USD's might not be so good. EU goes down, GU goes down, yet the MMs start AU upwards. A total confounding job on the market!
Well, this is all just guessing, isn't it.
- #66,350
- Feb 26, 2014 6:37pm Feb 26, 2014 6:37pm
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
Springgg..
Such bad data...
Such bad data...
- #66,351
- Feb 26, 2014 7:08pm Feb 26, 2014 7:08pm
- Joined Feb 2011 | Status: Trader | 1,825 Posts
just in ! , aussieshort {image}
{quote} classic stuff , made my day today :-D {image}
- #66,352
- Feb 26, 2014 7:18pm Feb 26, 2014 7:18pm
- Joined Feb 2011 | Status: Trader | 1,825 Posts
check this out , gGJj short sell
- #66,353
- Edited 9:19pm Feb 26, 2014 9:03pm | Edited 9:19pm
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
GBP is showing weakness. (Doji bars) AUD is showing strength. (Hammer bars)
I also believe PVSRA has proven effective that GBP is under accumulation of shorts and AUD accumulation of longs. (In my opinion)
GBP/AUD on the other hand is showing a massive H&S..
With that, I'll be watching for this potentially coming into play. If prices makes it above the 1.87xx area forming the right shoulder I may take an aggressive short trade.. (at my own peril) A more conservative and proper approach would be to wait for price to break the neckline as it would validate the move.
Should be interesting to see what LS/NY sessions offer.
Edit: An interesting idea I might try to incoperate is to take a short on GBP/AUD above the whole number once GU offers a classic short or AU offers a classic long.
(Or while both have set up at the same time!)
That's something I'd never really thought of till now, using Classics on other pairs to use it as a validation of taking an entry on one of its crosses..
I also believe PVSRA has proven effective that GBP is under accumulation of shorts and AUD accumulation of longs. (In my opinion)
GBP/AUD on the other hand is showing a massive H&S..
With that, I'll be watching for this potentially coming into play. If prices makes it above the 1.87xx area forming the right shoulder I may take an aggressive short trade.. (at my own peril) A more conservative and proper approach would be to wait for price to break the neckline as it would validate the move.
Should be interesting to see what LS/NY sessions offer.
Edit: An interesting idea I might try to incoperate is to take a short on GBP/AUD above the whole number once GU offers a classic short or AU offers a classic long.
(Or while both have set up at the same time!)
That's something I'd never really thought of till now, using Classics on other pairs to use it as a validation of taking an entry on one of its crosses..
- #66,355
- Feb 26, 2014 9:30pm Feb 26, 2014 9:30pm
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
Gold: An Economic Cause For Concern?
I am trying to make sense of this massive volume spike shown on the MONTH chart...could this mean GOLD is ready for take off?...Perhaps Gold is being brought up by all those in the know of what they know is about to happen in anticipation of the impending global financial crisis?..
I am trying to make sense of this massive volume spike shown on the MONTH chart...could this mean GOLD is ready for take off?...Perhaps Gold is being brought up by all those in the know of what they know is about to happen in anticipation of the impending global financial crisis?..
- #66,356
- Edited 10:23pm Feb 26, 2014 9:35pm | Edited 10:23pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #66,357
- Feb 26, 2014 9:41pm Feb 26, 2014 9:41pm
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
{quote} Sorry a bit confused by your words of aud accumulating long. I only know aud got push down due to china concerns and bad aud revenue by qantas airline and also aud datas. Maybe you wanna review your analysis.
Although when prices are whacked that gives us retail traders an opportunity to buy low. As the MM's continue to consolidate prices to start building in the next anticipated move, we can use PVSRA to be on the right side of the market. To me AU is showing much signs of accumulation of long orders by the MM's with all the volumes at the lows under key S+R numbers. (Whole/Half/Quarter) numbers that the MM's like to buy and sell above and below at.
Todays recent bad data and whack of prices very well would have made the cost of business for MM's a lot more cheaper as it didn't cost them as much to get prices lower to be able to do a big shopping spree of buying low. Infact this move down today can be seen on the H1 as what is known as a spring which is when MM's are in the final late stages of extensive position building and are close to initiating their run for profits as they draw in last second wrong side traders.
This is known as a false breakout which so many come to know and learn from the hard way! This is of course, all just my opinion, but hopefully it helps explain my analysis about AU a little clearer.
You can learn more about accumulation and springs here:
http://stockcharts.com/school/doku.p...lysis:wyckoff2
Hope it helps!
- #66,360
- Edited 10:57pm Feb 26, 2014 10:30pm | Edited 10:57pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} The reason for spike in m1 could be due to profit taking or so call mm buying.But it doesnt mean price couldnt fall further.
chaosbun,
You are correct. It doesn't mean the price couldn't fall further. We all agree on that. That is why we constantly say that we cannot know how price will move next! Certainly it can fall further! The MMs could simply decide when the best time for it arrives, and whack the price again. It will depend on how many long SLs are on the queue, that they can stop out! They will wait for that list of SLs to increase so as to make any next drop sufficiently profitable.
What is important here is to know both that the MMs are bulls and also the direction of the price, which can be up or can be down, because a good time to start considering a trade is when these two metrics come back into agreement, at a time when the bigger picture of PA is also in agreement. It is PVSRA that helps us to see if the MMs are bulls or bears. The actual price action will either be in opposition (MMs still building) or will be in agreement (MMs running price for profits).
We have always been able to see the "local" price action and the background trend or range. It is PVSRA that now helps us see if it is all being driven by MMs that are bulls or bears!
-tah