Seems like AUDUSD has a potential for 0.70 in coming weeks. This could be one good psych level
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HumbleTraders
- #94,322
- Dec 17, 2015 11:20am Dec 17, 2015 11:20am
- | Additional Username | Joined Dec 2015 | 3,529 Posts
- #94,324
- Dec 17, 2015 3:38pm Dec 17, 2015 3:38pm
Hi All,
I don't usually enter any trades on Friday's, looking for a good entry to short. I'm still thinking sub 0.70 for next year. This is the chart I have been working off the last month.
I identified 0.716 as a major support, this was broken last night (on the 4hr), may re-trace there on the daily today, otherwise next support is 0.705 on the uptrend I've identified.
Will hold off until next week I think. I've also added my trade explorer for my new account if anyone is interested.
I don't usually enter any trades on Friday's, looking for a good entry to short. I'm still thinking sub 0.70 for next year. This is the chart I have been working off the last month.
I identified 0.716 as a major support, this was broken last night (on the 4hr), may re-trace there on the daily today, otherwise next support is 0.705 on the uptrend I've identified.
Will hold off until next week I think. I've also added my trade explorer for my new account if anyone is interested.
- #94,327
- Dec 17, 2015 7:21pm Dec 17, 2015 7:21pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote}
Elliott Wave for optimum entry, exit and risk management of trades
- #94,331
- Dec 19, 2015 3:18am Dec 19, 2015 3:18am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
A Game Change of AUDUSD from short to long for next week - due to short selling wave count being invalidated on late Friday session.
Short covering for my short positions is at 0.7136 before reverting to longs.
Wave count update:
It's O.K. to Change Your Mind in Trading.............. especially about cutting losses.
Short covering for my short positions is at 0.7136 before reverting to longs.
Wave count update:
It's O.K. to Change Your Mind in Trading.............. especially about cutting losses.
Elliott Wave for optimum entry, exit and risk management of trades
- #94,334
- Dec 19, 2015 5:06am Dec 19, 2015 5:06am
A Game Change of AUDUSD from short to long for next week - due to short selling wave count being invalidated on late Friday session. Short covering for my short positions is at 0.7136 before reverting to longs. Wave count update: {image} It's O.K. to Change Your Mind in Trading.............. especially about cutting losses.
also what does your analysis look for the overall trend - i had a play with your style of analysis and came up with this (please dont laugh to hard) - but I get the feeling your mindset is the larger trend is negative and we will see lower lows not 0.69 being the bottom. Would be interesting to see your view as I prefere trading the longer TF.
weekly
Do what's right for you
- #94,337
- Edited 10:47pm Dec 19, 2015 9:49am | Edited 10:47pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} skyhok, how did you arrive at your target level for wave 4? (the line from 2 to 4, angle is determined by what?) also what does your analysis look for the overall trend - i had a play with your style of analysis and came up with this (please dont laugh to hard) - but I get the feeling your mindset is the larger trend is negative and we will see lower lows not 0.69 being the bottom. Would be interesting to see your view as I prefere trading the longer TF. weekly {image}
1. 2-4 line should be dotted as a temporary line. Price level of 4 will be determined by the configuration of expanding diagonal wave (c) or the size of the upcoming zigzag (5). I'll be looking into it.
2. Not definitely sure about the 0.69 bottom, but at least finding new monthly low.
3.Thank you for your interest in long term AUDUSD, following are long term charts posted end of last year:
http://www.forexfactory.com/showthre...91#post7925891
Present day update with previous analysis intact:
Like to know what you think!
Elliott Wave for optimum entry, exit and risk management of trades