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AUD/USD

  • #85,381
  • Oct 20, 2014 10:36pm Oct 20, 2014 10:36pm
Quoting fxtradeabi
{quote} I'm not on FXCM either so I just place a buy/sell limit order with a gap of 5 pips during a news event and glue myself to the screen for those 5 mins. If one gets hit, I'll grab whatever I can and then watch if it'll pullback should it go in the other direction like it did with A/U now on the first bearish candle and then went all crazy bull. It happens all so fast so if you can't be quick you'd get fried.

To much like gambling for me.
  • #85,382
  • Oct 20, 2014 10:39pm Oct 20, 2014 10:39pm
Quoting irongoose
{quote} To much like gambling for me.
Sure, just saying there's a better way around to it during a key event than guesswork. Either way cheers
  • #85,383
  • Oct 20, 2014 10:43pm Oct 20, 2014 10:43pm
If you are long, I think 8803 is the key number to overcome right now. Bulls are trying to hold above it right now, but watch how quickly and easily the bears defend that level and price will be trading below it again.

There will be more barriers even beyond that, but price will have to get above 8803 and stay above that level to even think about trying to break out of all of this consolidated mess.

But of course only my opinion. I think it is very possible higher prices will come, but I don't see anything except consolidation as of yet, albeit a bit more volatile, but still a boring inside bar situation on the daily chart, nothing happening yet to celebrate about, unless you are SuperBull and about ready to jump on?
  • #85,384
  • Oct 20, 2014 10:49pm Oct 20, 2014 10:49pm
Quoting benaiah
If you are long, I think 8803 is the key number to overcome right now. Bulls are trying to hold above it right now, but watch how quickly and easily the bears defend that level and price will be trading below it again..........
Yeah looks like 8803-8810 is some sort of a wall since oct14th. I wonder how that's working out for that Tcharq successful trader dude.
  • #85,385
  • Oct 20, 2014 10:57pm Oct 20, 2014 10:57pm
We'll have a direction soon.. Just have to pick what side of 88 you want to trade on..
  • #85,386
  • Oct 20, 2014 10:58pm Oct 20, 2014 10:58pm
Here's a chart showing 8803 as the key level. It's the daily close on 10/3.

I've numbered the days that it was able to close above it (3 times) since beginning of month. The first 2 times, bulls were able to fight it out and win 2 days in a row. The 3rd time bears slammed them down easily the next day, and rejected them the day after that (bearish pin). Will today be #4? Or will it be another rejection like what happened on 10/17?

Anything is possible, of course, but statistically, the bears have had the upper hand in this consolidation and fight to keep the price under 8803. A long time from now until NY close, so anything can happen, but in order to become bullish, I'd need to not only see a daily close above 8803, but some serious evidence that Bulls can defend that level, or leave it well behind...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 9 KB
  • #85,387
  • Oct 20, 2014 11:03pm Oct 20, 2014 11:03pm
Quoting fxtradeabi
{quote} Yeah looks like 8803-8810 is some sort of a wall since oct14th. I wonder how that's working out for that Tcharq successful trader dude.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD.png Size: 74 KB


Let the market decide.
Let the market decide!
  • #85,388
  • Oct 20, 2014 11:22pm Oct 20, 2014 11:22pm
Quoting zew
7.3% is a tricky number, lower than prev, higher than expectation... if it is...
0.91+ plus very soon. waiting for FTA, but I'm very sure FTA will be signed.
  • #85,389
  • Oct 21, 2014 12:22am Oct 21, 2014 12:22am
Quoting zew
{quote} 0.91+ plus very soon. waiting for FTA, but I'm very sure FTA will be signed.
I'm going to say 0.85- soon when this daily candle reverses and trades back below the daily pivot (0.87753)
  • #85,390
  • Oct 21, 2014 12:37am Oct 21, 2014 12:37am
Quoting RBlackburn
{quote} I'm going to say 0.85- soon when this daily candle reverses and trades back below the daily pivot (0.87753)
  • #85,391
  • Oct 21, 2014 12:43am Oct 21, 2014 12:43am
Trying to find sellers below resistance (0.88045) and didn't..
Will try again asap and succeed or fail, consolidate and move higher..
Attached Image (click to enlarge)
Click to Enlarge Name: Andysnap_085.png Size: 68 KB
  • #85,392
  • Oct 21, 2014 12:55am Oct 21, 2014 12:55am
Attached Image (click to enlarge)
Click to Enlarge Name: audusdweekly11.png Size: 39 KB

Interesting (to me at least) how price followed a very similar path within a smaller range as it did previously on a larger scale.
  • #85,393
  • Oct 21, 2014 1:03am Oct 21, 2014 1:03am
Quoting 2+2=4ex
{image} Interesting (to me at least) how price followed a very similar path within a smaller range as it did previously on a larger scale.
Wow.. that's crazy similar..
It would also imply another move up before a new low...
If of course this pattern decides to repeat itself for a third time...
  • #85,394
  • Oct 21, 2014 1:08am Oct 21, 2014 1:08am
Quoting RBlackburn
{quote} Wow.. that's crazy similar.. It would also imply another move up before a new low... If of course this pattern decides to repeat itself for a third time...
hmm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 71 KB
  • #85,395
  • Oct 21, 2014 1:09am Oct 21, 2014 1:09am
Quoting RBlackburn
{quote} Wow.. that's crazy similar.. It would also imply another move up before a new low... If of course this pattern decides to repeat itself for a third time...
Wwait hold on it depends on how you look at it..
  • #85,396
  • Oct 21, 2014 1:10am Oct 21, 2014 1:10am
Quoting HelloOz
{quote} hmm {image}
Lol i was just thinking of doing that haha..
  • #85,397
  • Oct 21, 2014 1:12am Oct 21, 2014 1:12am
Quoting RBlackburn
{quote} Wow.. that's crazy similar.. It would also imply another move up before a new low... If of course this pattern decides to repeat itself for a third time...
It probably doesn't mean anything, but it is crazy similar. I was just pointing it out for fun.
  • #85,398
  • Oct 21, 2014 1:12am Oct 21, 2014 1:12am
Quoting RBlackburn
{quote} Lol i was just thinking of doing that haha..
im one step ahead of you!
are you thinking of doing this too?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 115 KB
  • #85,399
  • Oct 21, 2014 1:13am Oct 21, 2014 1:13am
Quoting HelloOz
{quote} hmm {image}
Can you imagine if it actually plays out like that? LOL
  • #85,400
  • Oct 21, 2014 1:14am Oct 21, 2014 1:14am
Quoting 2+2=4ex
{quote} Can you imagine if it actually plays out like that? LOL
it will be "i told you so" moment..
and
"damn! i have vision.. if only i follow my vision"
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