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AUD/USD

  • #95,061
  • Jan 28, 2016 2:25pm Jan 28, 2016 2:25pm
Quoting edyraper
{quote} waiting for 7150.8 or higher to short 672x usally happens after 71xx it may drop from here I may be wrong and full of sh't
Attached Image
  • #95,062
  • Jan 28, 2016 2:26pm Jan 28, 2016 2:26pm
Quoting Don96
Cant believe I missed that 61.8 fibo retrace at 0.7128, was perfect for short entries at 0.7125. I was looking at it on my phone and caught about 15 pips on the break up but didn't see the 0.7125 level :0
You may w8 untill monday...I think it falls far south
atm on 4H Tf aususd it's still too bullish for me. It may be testing 7080 to go back to 7128 again, or may it falls now. I'm for the first sentence ...
  • #95,063
  • Jan 28, 2016 2:57pm Jan 28, 2016 2:57pm
Quoting FXClarity
Well, it's proving a bit of a slow drag but my view is we are headed above 75 in the coming weeks and accordingly I'm long and have been for several days (as written in a previous post). I thought I'd share an update I received from my broker which appears to at least support this view albeit with a lower target level; AUDUSD Bullish above 0.6985. Standard Bank is opening long trades for AUD and NZD based on improved technical indicators for the two currencies. Enters long AUDUSD at 0.7020 with target of 0.7200 and stop at 0.6900; short EURAUD entered...
IF price continues up do yourself a favour and take at least some profit at 73 (see daily chart high from 31/12/15) and some more around 7370 (see daily chart highs from 4/12/15 and 12/10/15). It would take something extraordinary for price to go straight through these levels and it is very high probability that price would retrace and you could buy the dips. Good luck,

Disclaimer: I am already short and will add to my positions if price goes up.
Hope for the best, prepare for the worst.
  • #95,064
  • Jan 28, 2016 3:30pm Jan 28, 2016 3:30pm
Quoting Ken A
{quote} {image}
Thanks for the chart and the X
  • #95,065
  • Jan 28, 2016 3:37pm Jan 28, 2016 3:37pm
if you are up to kick ass moves, do not forget about this one
Attached Image (click to enlarge)
Click to Enlarge Name: aj.png Size: 62 KB
As Above, So Below
  • #95,066
  • Jan 28, 2016 4:19pm Jan 28, 2016 4:19pm
I've attached a chart of AUD/JPN on the 4hr from Jan 6th to now. It's that section bottom right of your chart tashkent below 84.14 I interpret it as an inverse head and shoulder breaking up on your blue line.Attachment It's my first effort to upload a chart, so hope it works. If I'm right, it shows target of about 88.38. I'm looking at taking a small long now, possability of adding to it if a rise here confirms. Your thoughts on entry?
  • #95,067
  • Jan 28, 2016 4:22pm Jan 28, 2016 4:22pm
Quoting tashkent
{quote} to tell the truth, i am little scared with shorting this now i have to be careful not getting carried away with shorts, as we have seen it can jump up momentarily.
7140 retest coming, but looking at the dailys', it looks like the bears have already started positioning themselves
Come with me if you want to live....
  • #95,068
  • Jan 28, 2016 4:45pm Jan 28, 2016 4:45pm
Quoting Blackopal
I've attached a chart of AUD/JPN on the 4hr from Jan 6th to now. It's that section bottom right of your chart tashkent below 84.14 I interpret it as an inverse head and shoulder breaking up on your blue line.1842029 It's my first effort to upload a chart, so hope it works. If I'm right, it shows target of about 88.38. I'm looking at taking a small long now, possability of adding to it if a rise here confirms. Your thoughts on entry?

The AUD/USD has almost identical inverse head and shoulder on hour with target 72.80 from 70.6 to 7.8 region
  • #95,069
  • Jan 28, 2016 5:05pm Jan 28, 2016 5:05pm
The AUDUSD seems to have formed an inverted head and shoulders pattern on the daily chart. Price tries to break above the 0.7100 level and it could try to go higher.
  • #95,070
  • Jan 28, 2016 5:06pm Jan 28, 2016 5:06pm
Quoting Blackopal
I have a couple of questions to throw out to more experienced chartists. I don't have a sophisticated graph to illustrate my points, but that shouldn't be a problem for you lot. I previously saw a a head and shoulder pattern develop from Nov. 19 to Jan. 6th on the daily chart. When it broke the neckline at about 7120 on Jan. 6th, I estimated a downside target of appx. 69.03. An alternative neckline at about 70.22 formed from Nov. 11 to break on Jan. 7th , with a target of appx. 6827. The second, and lowest, target was hit precisely on Jan. 16. Today...
My methods aren't reliant on the types of patterns that you seem to use so can't really comment on those questions and I don't think you got any replies. Trust your trading plan but do it with small position sizes until you have more experience would be my only suggestions.
Hope for the best, prepare for the worst.
  • #95,071
  • Jan 28, 2016 5:11pm Jan 28, 2016 5:11pm
Whoops I meant inverse head and shoulder AUD/USD on 4 hourly chart. Still shows on hourly of course but you have to condense it to show on screen.
  • #95,072
  • Jan 28, 2016 5:23pm Jan 28, 2016 5:23pm
Quoting Blackopal
Whoops I meant inverse head and shoulder AUD/USD on 4 hourly chart. Still shows on hourly of course but you have to condense it to show on screen.
yes there is def an inverse H&S but we will be approaching significant weekly resistance around 7150 or so. Also a retest of a weekly/daily pattern break is approaching very soon around 7160 area or above 72 depending on how it is drawn.On my phone so can't attach chart sorry.
Come with me if you want to live....
  • #95,073
  • Jan 28, 2016 5:25pm Jan 28, 2016 5:25pm
Quoting Ill-b-back
With any luck, some longer term shorts will get triggered {image} {image} {image}
I see a retest of either this pattern...
Come with me if you want to live....
  • #95,074
  • Jan 28, 2016 5:27pm Jan 28, 2016 5:27pm
Quoting dab
{quote} My methods aren't reliant on the types of patterns that you seem to use so can't really comment on those questions and I don't think you got any replies. Trust your trading plan but do it with small position sizes until you have more experience would be my only suggestions.

Thanks Dab I was hoping for some responses. Shortly after I put that post up last night my tentative target of 71.20 was reached. I'm quickly building confidence, and reviewing my past trades and analysis is showing me that if I had backed myself with more confidence, instead of taking small profits before achieving targets, I'd be well in front now. Before joining this forum, I actually picked the break from Head and Shoulder neckline on AUD/USD which yielded big profits for those who road longs down to low of 68.27. But i couldn't find analysis from anyone else who supported my own, and had lost a couple of other trades, so lacking confidence, I closed my AUD shorts for small profit. Last nights analysis helped my confidence a lot. Learning rapidly. Intend to be involved in this long term. Love it.
  • #95,075
  • Jan 28, 2016 5:28pm Jan 28, 2016 5:28pm
Quoting Ill-b-back
{quote} My general view as PA evolves {image} {image} {image}
or this one (bottom chart)
Come with me if you want to live....
  • #95,076
  • Jan 28, 2016 5:53pm Jan 28, 2016 5:53pm
Dang, I was sleeping when all the action happened. Hopefully it will retrace a bit to give me an opportunity for some longs
  • #95,077
  • Jan 28, 2016 6:11pm Jan 28, 2016 6:11pm
Quoting Ill-b-back
{quote} or this one (bottom chart)

Can't see your chart this post? Saw others you put up 14 hrs ago. I'm looking at 71.6 area for a long if it comes back.
  • #95,078
  • Jan 28, 2016 6:22pm Jan 28, 2016 6:22pm
Quoting Ill-b-back
{quote} 7140 retest coming, but looking at the dailys', it looks like the bears have already started positioning themselves
you might be right about 7140 (i think it is a little higher, 7170). it is next level in ascending channel. i will add more shorts around today's high and trade that pinbar.
i think importance of this 7127 is that either we will enter to range between 7050 and 7250 for a few weeks or south train to 6500 will resume with a leg down to 6920 first.
As Above, So Below
  • #95,079
  • Edited 8:16pm Jan 28, 2016 6:38pm | Edited 8:16pm
I'm looking at the area between 0.7100 and 0.7125 as the line in the sand. A rejection there might trigger a quick short from me with a target of the 0.7030 - 0.7020 area. A break above 0.7125 exposes 0.7180 with a possible run up to 0.7250 sometime next week. I'll be watching PA before the U.S. GDP release.
  • #95,080
  • Jan 28, 2016 7:02pm Jan 28, 2016 7:02pm
Quoting tashkent
{quote} you might be right about 7140 (i think it is a little higher, 7170). it is next level in ascending channel. i will add more shorts around today's high and trade that pinbar. i think importance of this 7127 is that either we will enter to range between 7050 and 7250 for a few weeks or south train to 6500 will resume with a leg down to 6920 first.
yep, was just quoting the fib level number I am watching but I operate with zones
Come with me if you want to live....
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