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AUD/USD

I rather think this is the calm before the storm on friday during the NFP where AU will rocket up. I read some comments about the US job market was doing very well. Really? AU will go up, not because of strength of Aussie Dollar but due to weakness in usd. On top of it all, it's friday and we definitely need a breather from shorting this pair. At least : I do ;-)
Quoting sugarbelly
I rather think this is the calm before the storm on friday during the NFP where AU will rocket up. I read some comments about the US job market was doing very well. Really? AU will go up, not because of strength of Aussie Dollar but due to weakness in usd. On top of it all, it's friday and we definitely need a breather from shorting this pair. At least : I do ;-)
This isn't going up (substantially) any time soon. nfp reaction may cause a spike, nothing major.
Quoting Dano12
{image}{image} {image}
Wise Trader!
Hello,
any update !?
it's showing overbought on 4H TF, but not clear enough.
Quoting Feela
Hello, any update !? it's showing overbought on 4H TF, but not clear enough.
Overboguht?? I thought it's oversold
Quoting diegosilva
{quote} Overboguht?? I thought it's oversold
hahauhu, i think i am overadrenaline.
thank you diegosilva for correction.
correction ..!, mmmmm .
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Quoting fxmasterdxb
{quote} now i know this might seem imagenary or not possible, but honestly this is how i see AU! i did not want to post my full analysis in the earlier post as it would make some people freakout or probably call me insane LOL anyhow, please have a look at my chart, you see the pair did complet ABCD pattern much earlier and has already retraced pass the 38.2 Fibbo retracement, i see the current move as a correction to be followed with a move towards the 50 Fibbo before retracing and contiuing all the way down to 0.81xx! {image}
Since over a year and when price was at 0.97xx i made an analysis predicting a movement towards 0.81xx, many so called "pro's" made fun of me! Hope they are around to see how things turned!
Wish you all happy weekend!
Quoting fxmasterdxb
{quote} Since over a year and when price was at 0.97xx i made an analysis predicting a movement towards 0.81xx, many so called "pro's" made fun of me! Hope they are around to see how things turned! Wish you all happy weekend!
that was a nice call, indeed. Did you follow your own analysis and short the aud and still in the trade going to 0.81xx?
Looking at the long term chart of AUDUSD - I rethink and it's hard to believe the PA from April 2001 low onward would be corrective (which would indicate price will resume down trend in the future taking AUDUSD further downunder towards zero).
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But it indicates a major reversal from April 2001 low for an uptrend, with an impulse wave [1] up as shown on chart below. PA is now at the tail-end of wave A of a 3-3-5 correction [2], approaching close to 50% retracement of [1].
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Elliott Wave for optimum entry, exit and risk management of trades
Quoting oak
{quote} that was a nice call, indeed. Did you follow your own analysis and short the aud and still in the trade going to 0.81xx?
If you are asking me whether i have an open position from last year shorting AU till date my answer is hell no! I never keep a position more than few days, the max i have ever kept a position was a week. I usually keep scaling my positions in and out, sometimes i even leave the pair driving all the way up/down to start shorting/longing at a better rate.

I believe this is the best way to make the maximum utilization of trading, I'm currently short AU from 0.8375 and looking for 0.8240 to exit (might exit earlier depending on Sunday market opening).

All the best!
Quoting fxmasterdxb
{quote} If you are asking me whether i have an open position from last year shorting AU till date my answer is hell no! I never keep a position more than few days, the max i have ever kept a position was a week. I usually keep scaling my positions in and out, sometimes i even leave the pair driving all the way up/down to start shorting/longing at a better rate. I believe this is the best way to make the maximum utilization of trading, I'm currently short AU from 0.8375 and looking for 0.8240 to exit (might exit earlier depending on Sunday market...

I like your style.
Quoting oak
{quote} I like your style.
Thanks mate!
i got AU buy signal on 0.82815 Strong support level
Profit is on the other side of your mind
Quoting swilliam
i got AU buy signal on 0.82815 Strong support level
There will always be buy signal for this pair as this pair has been in the "oversold" zone for a super long period of time. Please throw those overbought and oversold indicators away, because you will find that in forex, a pair can be in oversold or overbought zone for an extended period of time. These indicators can be dangerous if not used properly.
The true fact is market doesn't care, risk mgt is important.
wow, good news and no bull movement again.
Quoting Gwan
wow, good news and no bull movement again.
what good news?
Yeah it wasn't very good news.
Corripe Cervisiam!
it is tooooooooooooooooooo DEEP WTF?
don't find the correct answer in market. just feel it and follow the wave.
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