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AUD/USD

  • #77,201
  • May 7, 2014 11:05pm May 7, 2014 11:05pm
Quoting mrluckystar
{quote} Just close EA n GA short +200pip.... will re-enter tomorrow..Btw ken, where have u been?
Close another +150pip for shorting EA n GA..AU try to test sma 300 for 2nd time.. lets see if it can..
Peace Yo!
  • #77,202
  • May 7, 2014 11:05pm May 7, 2014 11:05pm
Quoting Rizmeister
First TP .9384
Correct me if i'm wrong (i have only been trading a short time) but thats just above a strong resistance line - if it breaks it would go a lot higher than 93.84 and thats a big if...

Or am I just wrong in my analysis?
  • #77,203
  • May 7, 2014 11:09pm May 7, 2014 11:09pm
Decent resist at .9377ish...
  • #77,204
  • May 7, 2014 11:11pm May 7, 2014 11:11pm
Quoting VaBikePacker
So, I don't know how many are sick and tired of me posting targets here, but, here's an update to them: (this move up is generating some targets I haven't updated yet..) Enjoy... {image}

any insight as to how you produce these targets? can you direct me to your post where u have shared this info.Thanks
Gmail: 4xmiracle
  • #77,205
  • May 7, 2014 11:31pm May 7, 2014 11:31pm
Quoting 4xMiracle
{quote} any insight as to how you produce these targets? can you direct me to your post where u have shared this info.Thanks
I have not made a post, so, always remember you saw it here first in the AUD/USD thread

These targets are established based on what I call "differentials".

I "measure" price action a few different ways, all from 30m open data.

30m diff: the distance from one 30m open to another
daily diff: the distance from the daily open (0000 GMT) to each 30m open for that given day
weekly diff: the distance from the weeks open (Monday 0000 GMT) to each 30m open for that week

The targets are calculated very simply: When the market moves up, subtract the daily diff x2 from opens higher than the days open. When it moves down, do the opposite.

Ex. -

5/8/2014 daily open: .9320
HIGHEST 30m open so far: .9369

daily diff for the .9369 open is: + .0049

.9369 - (.0049 * 2) = SHORT TARGET

doing this with week high and low generates some interesting swing targets. They're usually pretty BIG targets that seem impossible..

I've done a lot of research using this method with the EUR/USD, poked at a couple of other pairs and see no reason why it couldn't work on others. There could be cause to adjust the calculations a little for a different pair. I've pondered starting a thread to see who would be willing to commit to a similar process and ultimately form a thread/group that is calculating targets that we can all trade from.
"Holy Grail" exists - accepting where is the first step.
  • #77,206
  • May 7, 2014 11:36pm May 7, 2014 11:36pm
Quoting Rizmeister
Decent resist at .9377ish...
gotta agree with you on that.
Doesnt seem to be able to overcome that strong resistance yet.

Overbought conditions, waiting for a clear signal for reversal to show that an interim top has been formed.
  • #77,207
  • Edited 12:26am May 8, 2014 12:12am | Edited 12:26am
Quoting VaBikePacker
{quote} I have not made a post, so, always remember you saw it here first in the AUD/USD thread These targets are established based on what I call "differentials". I "measure" price action a few different ways, all from 30m open data. 30m diff: the distance from one 30m open to another daily diff: the distance from the daily open (0000 GMT) to each 30m open for that given day weekly diff: the distance from the weeks open (Monday 0000 GMT) to each 30m open for that week The targets are calculated very simply: When the market moves up, subtract...
It's always interesting to read some of the ideas and things people come up with. As you probably already know, the market, although not actually random, appears to be random. In other words volatility gives the appearance that it is random. As a result, there is no rule based system that will predict future market behavior or volatility. Systems with rigid rules can mainly be classified into two categories: those that perform well in trends and those that perform well in ranges. Therefore, there are criteria you can put in place to keep you in check (aka disciplined). Such as what has been done here. With proper timing, trade sizing and patience you can make just about anything work. I hardly ever look at a 30 minute chart, but there are many ways to skin a cat - as the old saying goes. So find what's most comfortable for you. Thanks for sharing your method.

Just to be clear... I'm not criticizing this method. I know it may sound like I am but I am not. I actually like what's being done here. In principle.
  • #77,208
  • May 8, 2014 12:56am May 8, 2014 12:56am
Quoting praviiii
This is my 1st post here(forexfactory) i recently learned wave analysis and trying to trade in forex..lets hope for the best.... if my wave analysis correct wave 4 correct 38.2% then go towords abouve 3rd wave... {image} {image}
Good going towords 5thwave it will break 3rd high
  • #77,209
  • May 8, 2014 1:19am May 8, 2014 1:19am
any insight from australia resident?
  • #77,210
  • May 8, 2014 1:24am May 8, 2014 1:24am
Quoting Gwan
any insight from australia resident?
Most of your aussie residents are on gold stock forums lol
All posts are my personal opinion
  • #77,211
  • May 8, 2014 1:26am May 8, 2014 1:26am
Quoting Gwan
any insight from australia resident?

Waiting for the madness to be unleashed. Budget next week.
As the lights go by so too do the shadows move
  • #77,212
  • May 8, 2014 1:29am May 8, 2014 1:29am
Quoting Rtm
{quote} Most of your aussie residents are on gold stock forums lol
Waiting for the madness to be unleashed. Budget next week.
-- - - --
oh well, that means it is side way....
  • #77,213
  • May 8, 2014 2:31am May 8, 2014 2:31am
Quoting Rtm
{quote} Most of your aussie residents are on gold stock forums lol
Just to keep you happy RTM...

W1 chart showing a potential double top for long term trend down to the 0.91500 levels.
D1 is not really giving anything away at the moment but a little more upside and again a double top may be formed.
H4 is looking bullish at the moment however trend is showing bear so a correction may come into play after the hype of the 5.8% dies down
H1 has topped out and showing signs of a weakening bull strength for some nice bear movements
M30 is bull but a retrace is showing signs of strength with a potential to drop to the 0.93560 level
M15 is bull but as above about to turn to nice bear (although showing we may drop to the 0.93500 level.
A genius is born every minute, me I am lucky if my socks match.
  • #77,214
  • May 8, 2014 2:41am May 8, 2014 2:41am
Quoting Rtm
{quote} Most of your aussie residents are on gold stock forums lol
Oh sorry, did not see your quoted another.. oh well..

Australia is a funny one at the moment, I have some highly skilled friends that have been out of work for the past 6 months. Prior they had no trouble finding work and have been employed as long as I have known them 10+years.

Housing market has picked up, but us aussies are a fickle bunch. News channels could tell most of us anything "Mining sector slowing in Aus but don't worry, housing is picking up to take the slack". Plus our Government is going through a fire sale period, you know where they sell assets that earn us a squillion dollars a minute and sell them for the price of a coffee and scrambled eggs, then to potentially by back for a squillion.

Other than all that, things are very rosey in AUD land.
A genius is born every minute, me I am lucky if my socks match.
  • #77,215
  • May 8, 2014 2:50am May 8, 2014 2:50am
AUDUSD- stops above 0.9390 and offer begin at 0.9410/20, but sentiment may just poo-poo those orders. USD weakness aint hurtin either
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  • #77,216
  • May 8, 2014 3:22am May 8, 2014 3:22am
I expected growth to 0.9512-35, and there is a good opportunity to sell
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  • #77,217
  • May 8, 2014 3:41am May 8, 2014 3:41am
As usual will take time to take out 38.2% bounce to the dot

Attached Image
  • #77,218
  • May 8, 2014 4:43am May 8, 2014 4:43am
Quoting Ken A
As usual will take time to take out 38.2% bounce to the dot {image}
Im off for today ken... too many high impact news coming up.. if Au stay above 0.9377 until tomorrow there is good opportunity to hit this year high...
Peace Yo!
  • #77,219
  • May 8, 2014 4:55am May 8, 2014 4:55am
Quoting mrluckystar
{quote} Im off for today ken... too many high impact news coming up.. if Au stay above 0.9377 until tomorrow there is good opportunity to hit this year high...
It could be and dollar is really taking a beating right now. Draghi later might temporarily change the sentiment though spike here and there
  • #77,220
  • May 8, 2014 5:24am May 8, 2014 5:24am
Quoting Rizmeister
First TP .9384

First tp hit.


and last closed position hehe. Will get choppy over next hour. Im out
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