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  • #91,761
  • Sep 2, 2015 12:03am Sep 2, 2015 12:03am
Quoting alz
Do you think it will go back up to 7200?
Not sure if that was a question intended for me? At present my target is around 7080 but I wouldn't rule out 7200 revisit, especially to break support of round number 7000
Hope for the best, prepare for the worst.
  • #91,762
  • Sep 2, 2015 5:01am Sep 2, 2015 5:01am
0,698 anyone buying?
  • #91,763
  • Sep 2, 2015 6:38am Sep 2, 2015 6:38am
AUDUSD declines likely to witness a pullback near 0.6900 area. Could become a good level to buy then.
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  • #91,764
  • Sep 2, 2015 7:04am Sep 2, 2015 7:04am
Quoting Gwan
0,698 anyone buying?
The bears are not exhausted yet. Since we broken below 0.7 today, therefore making new yearly lows, very high chance that there will be further bearish movement. Again, all rallies are opportunity for more bears to load their short position. This is a one way ticket down.
The true fact is market doesn't care, risk mgt is important.
  • #91,765
  • Sep 2, 2015 7:21am Sep 2, 2015 7:21am
Quoting Ssm
{quote} The bears are not exhausted yet. Since we broken below 0.7 today, therefore making new yearly lows, very high chance that there will be further bearish movement. Again, all rallies are opportunity for more bears to load their short position. This is a one way ticket down.
Do note that previous support at .704 has turned into resistance earlier today. This is another point which more bears will load their positions.
The true fact is market doesn't care, risk mgt is important.
  • #91,766
  • Sep 2, 2015 7:16pm Sep 2, 2015 7:16pm
Oh Aussie Dollar, depressed as you are
Gone are the days you used to trade at par
The China story made you a superstar
But perhaps, now the bottom's not too far

Should i catch your falling knife?
Indeed, a trade i know
That involves much strife
When you decide to test a low

But perhaps, just perhaps
One day we'll all see
This move was the mother of all bear traps
But its really more than likely
That this move is wave number three
  • #91,767
  • Sep 2, 2015 8:49pm Sep 2, 2015 8:49pm
Quoting Ssm
{quote} Do note that previous support at .704 has turned into resistance earlier today. This is another point which more bears will load their positions.
This previous support turn resistance at .704 holds true. Price is turning down upon hitting this level. Downtrend resume.
The true fact is market doesn't care, risk mgt is important.
  • #91,768
  • Sep 2, 2015 10:47pm Sep 2, 2015 10:47pm
Quoting Ssm
{quote} This previous support turn resistance at .704 holds true. Price is turning down upon hitting this level. Downtrend resume.
Dont underestimate the power of 0.70/0.68. Go back more than just a few years and you will see we've had some strong bounces off this historically important level. Bears need a weekly close below this level otherwise we will be going up. I suspect it will hold UNLESS the fed decide to lift off this month.
  • #91,769
  • Sep 2, 2015 11:34pm Sep 2, 2015 11:34pm
Quoting diggo
{quote} Dont underestimate the power of 0.70/0.68. Go back more than just a few years and you will see we've had some strong bounces off this historically important level. Bears need a weekly close below this level otherwise we will be going up. I suspect it will hold UNLESS the fed decide to lift off this month.
I totally agree with you mate. It hasnt cracked the monthly or weekly support just yet fully.Whilst people calling bears on this however you be a fool to sell this on a tight support level.Only time will tell, once it cracks through then oh well aussie will be in the real shithouse If anything LONGS is a safer bet for time being. Just my 2cents.
  • #91,770
  • Sep 3, 2015 12:00am Sep 3, 2015 12:00am
For those whom are shorts, beware of the bear trap

For the longs, R&R is there. .70 round number is being defended well.
  • #91,771
  • Sep 3, 2015 12:27am Sep 3, 2015 12:27am
Just my view, see sophisticated chart below
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Pride always comes before destruction.... -Proverbs 16:18
  • #91,772
  • Sep 3, 2015 1:39am Sep 3, 2015 1:39am
There's a war 0,70
  • #91,773
  • Sep 3, 2015 2:05am Sep 3, 2015 2:05am
Seems like there are massive crowds of bulls below 0.7000. Very interesting! Let's see who will finally be the winner
  • #91,774
  • Sep 3, 2015 2:30am Sep 3, 2015 2:30am
Quoting Banabukari
Seems like there are massive crowds of bulls below 0.7000. Very interesting! Let's see who will finally be the winner
And you can be sure the MM's will be firing every bullet to blow out as many SL's as they can before filling their own orders for any correction upwards
Pride always comes before destruction.... -Proverbs 16:18
  • #91,775
  • Sep 3, 2015 2:39am Sep 3, 2015 2:39am
Quoting Expo33
{quote} And you can be sure the MM's will be firing every bullet to blow out as many SL's as they can before filling their own orders for any correction upwards
Gotta agree with you on that. Before the norm begins, MM will clear out all the stop orders first.
  • #91,776
  • Sep 3, 2015 2:49am Sep 3, 2015 2:49am
7000 seems to be a very strong support for now. Where should I look for a short entry? 7100 or 7200?
  • #91,777
  • Sep 3, 2015 2:54am Sep 3, 2015 2:54am
Quoting alz
7000 seems to be a very strong support for now. Where should I look for a short entry? 7100 or 7200?
Lets see PA at .71 first before shorting. When the Aussies squeeze, it will be a huge one.
  • #91,778
  • Sep 3, 2015 2:56am Sep 3, 2015 2:56am
Quoting SkyrEk
{quote} Lets see PA at .71 first before shorting. When the Aussies squeeze, it will be a huge one.
do you think it will go back to 71 or 72? I am reading all these reports saying it's going to touch .60 soon..
  • #91,779
  • Sep 3, 2015 2:58am Sep 3, 2015 2:58am
Quoting alz
{quote} do you think it will go back to 71 or 72? I am reading all these reports saying it's going to touch .60 soon..
Judging from the amount of bullish movement at. 70, i think there will be an upward correction first before heading below .70. Not sure when, the catalyst could be NFP tomorrow (assuming bad numbers coming out of NFP)

Otherwise,i see a fair share of bulls and bears fighting out now.

May the fittest win.



Anway, there is a DOJI on the 4h after a bearish 4h candle. Hence, there is this possibility of bulls fighting back up.
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  • #91,780
  • Sep 3, 2015 3:31am Sep 3, 2015 3:31am
Quoting Expo33
{quote} And you can be sure the MM's will be firing every bullet to blow out as many SL's as they can before filling their own orders for any correction upwards
Hohoho...scary....scary..., i am still holding shotrt position from 0.7060. hmmm....
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