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AUD/USD

  • #85,481
  • Oct 21, 2014 2:44pm Oct 21, 2014 2:44pm
Quoting farhanzaveri
Doesn't matter who I am.
True

Quoting farhanzaveri
I take it your long
False
  • #85,482
  • Oct 21, 2014 2:48pm Oct 21, 2014 2:48pm
Haha, no offense taken. Good luck to you as well. This thing really could go either way, honestly. I just have a short bias. Weekly shows double bottom, daily, 4hr etc show indecision/long/short depending on how you slice n dice the charts. If i could hedge in my account i def would at this point.
  • #85,483
  • Oct 21, 2014 3:02pm Oct 21, 2014 3:02pm
Quoting farhanzaveri
Haha, no offense taken. Good luck to you as well. This thing really could go either way, honestly. I just have a short bias. Weekly shows double bottom, daily, 4hr etc show indecision/long/short depending on how you slice n dice the charts. If i could hedge in my account i def would at this point.
And as we speak, I'm short again as well....

Definitely indecision. Can't wait to till it makes up it's mind which way it wants to go
  • #85,484
  • Oct 21, 2014 3:04pm Oct 21, 2014 3:04pm
Hourly chart just shows a free-fall. I think it will need to hit some serious support to make another run up.

I think I'd need to see a SuperBull candle to make me go long again. For now, will be picking short opportunities on pull-backs...
  • #85,485
  • Oct 21, 2014 3:36pm Oct 21, 2014 3:36pm
Can someone tell me that which way aud will go when the news going to come we should buy or sell
  • #85,486
  • Oct 21, 2014 3:40pm Oct 21, 2014 3:40pm
Next stop on this free fall 8753.

Assuming a breakout to the downside in the little triangle formation on M15 chart...

Would be interesting if it broke out upward, but I think I'd resist temptation to go long on this one...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 76 KB
  • #85,487
  • Oct 21, 2014 3:49pm Oct 21, 2014 3:49pm
that triangle is NOT a reversal pattern. At least that i've ever seen before. More like a continuation pattern. notice the triangle above it
The coincidental success is more dangerous than the expected failure
  • #85,488
  • Oct 21, 2014 3:57pm Oct 21, 2014 3:57pm
Quoting benaiah
Next stop on this free fall 8753. Assuming a breakout to the downside in the little triangle formation on M15 chart... Would be interesting if it broke out upward, but I think I'd resist temptation to go long on this one... {image}
I agree! I believe the bottom may be @8740...
  • #85,489
  • Oct 21, 2014 4:26pm Oct 21, 2014 4:26pm
2 inverted hammers on the hourly chart are giving me pause for thought.

Then, there was that NY close gap down followed by a very quick-fill mini-bull move...

At this point doesn't seem like there's enough to carry it up further, but will be watching...
  • #85,490
  • Oct 21, 2014 4:29pm Oct 21, 2014 4:29pm
@8729 next stop?

Let the market decide.
Let the market decide!
  • #85,491
  • Oct 21, 2014 4:32pm Oct 21, 2014 4:32pm
sellers exhausted in the 1hr chart? Time for a small pullback? 4hr chart is bullish
  • #85,492
  • Oct 21, 2014 4:40pm Oct 21, 2014 4:40pm
Quoting fxtradeabi
sellers exhausted in the 1hr chart? Time for a small pullback? 4hr chart is bullish

I wouldn't count on that being the case well into the Asian session. Idk if its just me but over the last 72 hours there seems to have been a pretty big disagreement with this pair between Asia -> London and New York sessions.

Asia dumps and NY pumps. Been flat over both sessions since Chinese data posted last night going into tonight.
The coincidental success is more dangerous than the expected failure
  • #85,493
  • Edited 5:00pm Oct 21, 2014 4:44pm | Edited 5:00pm
Quoting fxtradeabi
sellers exhausted in the 1hr chart? Time for a small pullback? 4hr chart is bullish
@8741 next?

Let the market decide.
Let the market decide!
  • #85,494
  • Oct 21, 2014 5:03pm Oct 21, 2014 5:03pm
And another inverted hammer (more doji-like) close on the H1 chart, but bears are attacking...
  • #85,495
  • Oct 21, 2014 5:05pm Oct 21, 2014 5:05pm
looks ready to drop...
  • #85,496
  • Oct 21, 2014 5:08pm Oct 21, 2014 5:08pm
Quoting benaiah
looks ready to drop...
Strongly agreed. @8741 next stop + bounce.
Let the market decide!
  • #85,497
  • Oct 21, 2014 5:09pm Oct 21, 2014 5:09pm
Quoting Tcharq
{quote} Strongly agreed. @8741 next stop + bounce.
I like your target

I was only shooting for 8753, but if I can get 12 more pips, that would be great
  • #85,498
  • Oct 21, 2014 5:16pm Oct 21, 2014 5:16pm
I feel like this is where the bulls should take over for the evening. If not and she drifts past the 50 marker, then oh well.
There's always money in the banana stand.
  • #85,499
  • Oct 21, 2014 5:27pm Oct 21, 2014 5:27pm
Quoting LizardGizzard
I feel like this is where the bulls should take over for the evening. If not and she drifts past the 50 marker, then oh well.
She should touch 55-59 area before bulls.. But data is coming so beware she might pop up for fun..towards 0.8789 + i do expect bad data from aussie
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #85,500
  • Oct 21, 2014 5:35pm Oct 21, 2014 5:35pm
Just looking at the chart with big picture in mind, and I really think we may see a breakout this week or early next.

As you probably already know, look for the daily range to tighten. I think this last failed breakout on the upside dictates this final bearish push to the bottom (maybe) of the range. After that, the tightening range should be telling as it proceeds to fuel the rockets...
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