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AUD/USD

  • #94,361
  • Dec 21, 2015 11:47pm Dec 21, 2015 11:47pm
The AUDUSD goes back up after bouncing from the 76.4% Fibo at the 0.7102, but it seems like it is in a bearish channel.
  • #94,362
  • Dec 22, 2015 3:00am Dec 22, 2015 3:00am
Quoting trademark
The AUDUSD goes back up after bouncing from the 76.4% Fibo at the 0.7102, but it seems like it is in a bearish channel.
Bearish in which tf, can u attach chart to see your view
All Things Are Possible
  • #94,363
  • Dec 22, 2015 3:12am Dec 22, 2015 3:12am
Quoting diggo
{quote} Commodity prices can, and probably will, continue lower into 2016 and beyond. But for arguments sake, let's assume they have bottomed.
I don't think they've necessarily bottomed, I was just commenting on the primary export commodities of Australia, which probably can't go substantially lower. The price of iron ore for example, has never really gone below $30/t for very long (historically). It may well fall below it temporarily to clear out high margin suppliers, but it won't stay there, long-term wise, it's about as low now as it will be going forward.
  • #94,364
  • Dec 22, 2015 3:58am Dec 22, 2015 3:58am
long from 7129. to those who is trying to join the party now, it could be worth but you might be little late, because here people start taking their profits.
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As Above, So Below
  • #94,365
  • Dec 22, 2015 4:16am Dec 22, 2015 4:16am
Quoting tashkent
long from 7129. to those who is trying to join the party now, it could be worth but you might be little late, because here people start taking their profits. {image}
Your chart shown bearish channel lower highs, lower lows, is it better to talk about short?
All Things Are Possible
  • #94,366
  • Dec 22, 2015 4:28am Dec 22, 2015 4:28am
If I was to do a trade now, do you think sell is the go? For over night while I sleep. Still trying to get the hang of reading charts and analyzing them etc. I wanna get the hang of naked reading a chart rather than relying on MAs, rsi etc.. Also, why would sell / buy be the better option at the moment?
  • #94,367
  • Dec 22, 2015 4:33am Dec 22, 2015 4:33am
Quoting RemonFxTrade
{quote} Your chart shown bearish channel lower highs, lower lows, is it better to talk about short?
yes, this is what people will play at this level. however, it is difficult to know if the channel will be respected or not. depending on your bias, just follow the highs and lows in smaller tf to get a better picture. in addition, one can follow the previous 4H candle. it is bullish until close below previous 4H candle seen.
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As Above, So Below
  • #94,368
  • Dec 22, 2015 9:10am Dec 22, 2015 9:10am
Quoting Jugoslavija
Buy AU at 0.7181,SL at 0.7115 which is the bottom of correction after leading diagonal from 0.7096 I abandoned sell trade already after that spike up after FED decision and that leading diagonal from 0.7096 was my final argument to swich to buy side.This pair refuses to go down.Starting point of leading diagonal was at exactly 78.6% retracement of movement from 0.7016 back in November.{image}
Trade is developing nicely.Don't start taking profits until stop-loss orders and buy orders are triggered at the top of FED spike at 0.7280.That is natural target for big players to clean up.After that we can start consolidation or sudden powerful reversal which is highly unlikely but possible.
Zone between 0.7280-0.7385 is no-mans land.When market reaches 0.7385 it will be major buy signal,with minimum target daily Close with seriously overbought daily RSI(14).
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  • #94,369
  • Dec 22, 2015 11:10am Dec 22, 2015 11:10am
7242 could be the level if anybody was planning to short. sl about 12 pips
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As Above, So Below
  • #94,370
  • Dec 22, 2015 11:38am Dec 22, 2015 11:38am
I forgot to mention that SL according to EW is raised to 0.7155,which is territory of starting impulse wave up.So risk is only 26 pips now,while around 60 pips positive now. Technically,level 0.7170 is extremely strong,but I use EW for risk management so that is priority.In this trade it was exception that EW helped me to confirm entry decision.Perfect entry point was at 0.7155,but when that happened in Friday,I had my hands full with other stuff and market moved when I wasn't looking.I have sort of phobia about pending entry orders.
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  • #94,371
  • Dec 23, 2015 2:07am Dec 23, 2015 2:07am
AudUsd ====>
Buy Stop = 72488 / TP = 72575 / SL = 72288
if this order trigger ; open 2* lot Sell Stop = 72288 / TP = 72193 / SL = 72488
GL
( i know very bad RR) also the PA of UsdJpy makes me nervous about this order...anyway i set it..
do not stand out in the open with gun ;stand in the bushes with knife..
  • #94,372
  • Dec 23, 2015 4:44am Dec 23, 2015 4:44am
Quoting tashkent
what you think is meaningless. what matters is what you trade.
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  • #94,373
  • Dec 23, 2015 6:02am Dec 23, 2015 6:02am
this is a price action of something set to fall. planning to close the long and go short.
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As Above, So Below
  • #94,374
  • Dec 23, 2015 7:05am Dec 23, 2015 7:05am
Quoting tashkent
this is a price action of something set to fall. planning to close the long and go short. {image}
Yes,it can drop easily 30 pips.But you have excellent trade on.If your broker allows you,you can go short intraday and keep buy trade active long-term.
  • #94,375
  • Dec 23, 2015 7:52am Dec 23, 2015 7:52am
Quoting tashkent
this is a price action of something set to fall. planning to close the long and go short. {image}
and it did and will probably keep doing it.
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As Above, So Below
  • #94,376
  • Dec 23, 2015 7:56am Dec 23, 2015 7:56am
Quoting Jugoslavija
{quote} Yes,it can drop easily 30 pips.But you have excellent trade on.If your broker allows you,you can go short intraday and keep buy trade active long-term.
you were right, it is coming down. unfortunately i can't hedge due to regulations here in this country. otherwise i would take that short from 7242, which i mentioned yesterday while keeping my long. right now the only option i have is adding to my long and hoping this drop is a retracement.
As Above, So Below
  • #94,377
  • Dec 23, 2015 8:11am Dec 23, 2015 8:11am
What ur target shorts, me 7150 and will move my stop to avoid loss
All Things Are Possible
  • #94,378
  • Dec 23, 2015 8:46am Dec 23, 2015 8:46am
Quoting tashkent
{quote} and it did and will probably keep doing it. {image}
Thanks for posting 15 min. chart.I did't look below 1H,so I saw only now:On your left is textbook contracting triangle in 4. wave of 3.impulse wave since 7096.Recent retracement stalled right at the lower edge of that structure.That is significant.Even more significant is the same structure before USA news and attempt to go down.If market climbs back over that triangle bears will be in great trouble in short order.already this consolidation looks very shallow.That is a warning sign.I thought they would at least test broken falling trendline from 7385.Next few hours are important for bears.
  • #94,379
  • Dec 23, 2015 9:01am Dec 23, 2015 9:01am
Quoting Jugoslavija
{quote} Thanks for posting 15 min. chart.I did't look below 1H,so I saw only now:On your left is textbook contracting triangle in 4. wave of 3.impulse wave since 7096.Recent retracement stalled right at the lower edge of that structure.That is significant.Even more significant is the same structure before USA news and attempt to go down.If market climbs back over that triangle bears will be in great trouble in short order.already this consolidation looks very shallow.That is a warning sign.I thought they would at least test broken falling trendline...
would appreciate if you can insert a chart because i am illiterate when it comes to EW.
this is my wild speculation:
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As Above, So Below
  • #94,380
  • Dec 23, 2015 9:13am Dec 23, 2015 9:13am
Yes,you are good.But if they climb above 7232 shortly,than things become bullish immediately.
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