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AUD/USD

  • #99,141
  • Oct 17, 2016 12:58am Oct 17, 2016 12:58am
Quoting lioslim
WEEKLY UPDATE {image} {image} {image} {image} {image} {image} {image}
Nice chart there pal, fine geometrics there, in one short line, summarise ur view for AU.
  • #99,142
  • Oct 17, 2016 4:26am Oct 17, 2016 4:26am
Quoting skyhok
Buying the dip Moving up on a 5 waves impulse c orange, after an 'ending' diagonal that ends corrective pattern b. Setup for longs from 0.7555, SL @ bottom of b, with medium term target towards 0.7851 {image}
Hi Skyhok,

What makes you think the AUD will raise to that level?

I can only see the AUD going down down and down.
  • #99,143
  • Oct 17, 2016 6:27am Oct 17, 2016 6:27am
There is a doji candlestick on the weekly time frame above the support at 0.7560. That can be interpreted as a signal for a serious move to the upside.
  • #99,144
  • Oct 17, 2016 6:33am Oct 17, 2016 6:33am
Quoting jpcashflow
{quote} Hi Skyhok, What makes you think the AUD will raise to that level? I can only see the AUD going down down and down.
Watch for a break out of the triangle.
If it breaks to the up side its a possibility it will go to .86 ( highly doubt this though)
Break to the down side and will see .59 around mid next year. If the feds go through with the hiking this looks more foreseeable.

ATM its range bound with in the triangle.
Attached Image (click to enlarge)
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20 Pips a day keeps centerlink away
  • #99,145
  • Oct 17, 2016 6:59am Oct 17, 2016 6:59am
0.76, the key point in the past month. will we have a finally result this time ?

bullish bias.
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #99,146
  • Oct 17, 2016 7:42am Oct 17, 2016 7:42am
Keep shorting till 0.7560. After each 10-20points drop take profit, each 10-20 points jump - new short. Works enough good.
  • #99,147
  • Oct 17, 2016 7:43am Oct 17, 2016 7:43am
Quoting jpcashflow
{quote} Hi Skyhok, What makes you think the AUD will raise to that level? I can only see the AUD going down down and down.
Based on Elliott Wave structure, here on the daily chart, 5th wave (v) of the ending diagonal c red will likely terminate at least the Fibonacci ratio of a 100% x wave (iii) @ 0.7851, and therefore terminate this larger correction 4 red, before resuming down trend.
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #99,148
  • Oct 17, 2016 7:58am Oct 17, 2016 7:58am
Quoting slk
Sold 0.7615 Target 0.72
2 months 2 weeks later, still waiting. Man, I have really become a position trader.
  • #99,149
  • Oct 17, 2016 8:34am Oct 17, 2016 8:34am
I added more longs earlier in the London session, after the scary LDN open drop. Might have seen the low of the week already
Attached Image (click to enlarge)
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  • #99,150
  • Oct 17, 2016 8:56am Oct 17, 2016 8:56am
We're now above both weekly and monthly pivots. I'm long 2 positions from .76150
  • #99,151
  • Oct 17, 2016 8:59am Oct 17, 2016 8:59am
I loved this pair unlit now! But it has ruined my trading life recently. Though I made the mistake, but still I will not trade on this pair anymore!
  • #99,152
  • Oct 17, 2016 9:30am Oct 17, 2016 9:30am
Quoting slk
{quote} 2 months 2 weeks later, still waiting. Man, I have really become a position trader.
You have more patience than I do. The longest I've held a trade is a week and that was because I thought it would reverse.
  • #99,153
  • Oct 17, 2016 12:00pm Oct 17, 2016 12:00pm
I tightened stops of all longs to lock profits of ca.100pippos from the lowest longs. The daily and weekly structure is bullish BUT I do not like the look of the bullish daily bar of 13 Oct and the fact that we never reached the inflection lows of around 0.7460. I would rather the price had dipped to down there and presented a smaller bullish daily bar per my daily bars trading system. If it does that, and take me out at a profit in the meantime, I will be ready to buy
Attached Image (click to enlarge)
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  • #99,154
  • Oct 17, 2016 12:49pm Oct 17, 2016 12:49pm
Quoting buttfix
i loved this pair unlit now! But it has ruined my trading life recently. Though i made the mistake, but still i will not trade on this pair anymore!
sorry to hear that, i do have a nice set up, its a save one, lets see how its gona play. I am not sure if its gonna go down to the "buying zone" , but if it does, its a safe place to buy, take profit is about 100p, and sl is only 20-30pips(its all depend whre and how you wanna enter), and always use sl , because tomorrow you still wanna be a trader
good luck
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  • #99,155
  • Oct 17, 2016 12:53pm Oct 17, 2016 12:53pm
Quoting lioslim
{quote} sorry to hear that, i do have a nice set up, its a save one, lets see how its gona play. I am not sure if its gonna go down to the "buying zone" , but if it does, its a safe place to buy, take profit is about 100p, and sl is only 20-30pips(its all depend whre and how you wanna enter), and always use sl , because tomorrow you still wanna be a trader good luck {image} {image}
i am sorry to be honest tahts the best and save set up for me, just there a is a big chance we can miss the train
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  • #99,156
  • Oct 17, 2016 1:31pm Oct 17, 2016 1:31pm
Be careful - soon may be some sharp moves I think. I plan to close some positions, because nobody knows what they will say and looks that market waiting for fresh blood (news).

0:10 AUD RBA Gov Lowe Speaks
3:30 AUD Monetary Policy Meeting Minutes
  • #99,157
  • Oct 17, 2016 1:54pm Oct 17, 2016 1:54pm
Quoting dream_trader
be careful - soon may be some sharp moves i think. I plan to close some positions, because nobody knows what they will say and looks that market waiting for fresh blood (news). 0:10 aud rba gov lowe speaks 3:30 aud monetary policy meeting minutes
you are right my friend, it will be very busy week
good luck to everyone
  • #99,158
  • Oct 17, 2016 2:14pm Oct 17, 2016 2:14pm
Quoting slk
{quote} 2 months 2 weeks later, still waiting. Man, I have really become a position trader.
I agree on the positions, although I would suggest .7000 is a major area of accumulation. I've been shorting above the .7660 level
(closer to .77 when I am lucky) and have been hobbying this pair to the .7550 level and waiting for the return up. I see this level
up to .7750ish as an area to distribute from (either up or down, but I am leaning towards down.) Volume suggests to me accumulation
from .70-7200 up to the .76-7700 area. Good luck, grab the popcorn, I think fireworks before xmass.
regards,
goma
Attached Image (click to enlarge)
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  • #99,159
  • Oct 17, 2016 7:48pm Oct 17, 2016 7:48pm
Just open short at 0.7658, due to overbought indicators, and there's divergen on my 4H indicator charts.

Targeting close it at 0.7584.
Warning area: 0.7710 above.
  • #99,160
  • Oct 17, 2016 10:07pm Oct 17, 2016 10:07pm
Looks like AUD has peaked for the day looking at a sharp selling off period for the next day or two.
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