About to dive today? 0.755zone that is x?
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About to dive today? 0.755zone that is x?
Hi guys. I have nvr really post on some other thread before but just wanna discuss a few thoughts. I am seeing that it may return to maybe 0.76150 area prior to going back up.
https://www.forexforum.co.za/attachm...1496742657.jpg
Still awaiting to get a breakout, either side.Quote:
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Eventually, break out!Quote:
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Don't get trapped!
KP
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fine. You beat me to it guys. I can only hope you shorted via demo account.Quote:
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PS: that is what happened to this man who shorted AU and NU.
https://www.forexforum.co.za/attachments/1526849531.png
SL: 0.7730Quote:
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rewardgt;risk
will get stopped out cause it will hit 7750 soon.Quote:
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I shall accept the loss if it hits my SL. It's a part of trading. All transactions cannot be profitable. Let's see what happens.Quote:
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I've risked 2 percent of my account relating to this. I don't risk more than 2-3 percent per trade. I put lot size accordingly.
The guy above maintained shorting while it had been going up. Just saying. Wish you best of luck, trade.Quote:
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Shorting near 7750-75 stops @ 7800 makes considerably more sense. Just my 2 cents. Trade you have egy, but make sure you have a stop loss.
Looks like it's turning more bullish
risky to go brief above 0.768/0.77
ModifiedQuote:
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SL: 0.77463
TP: 0.76049
Entered long position from 0.77
stop 0.76
target 0.775, 0.80
likely dumb to trade prior to Christmas
No worries mate, going well https://www.forexforum.co.za/attachments/1526849532.jpgQuote:
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Imho, price Could be capped in 7730 for Today
I'll be exiting my transactions at approximately 7730-7740. Strong resistance over there.Quote:
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I am not so certain if this really is going too far yet. AUD is absolutely overbought. I still can see a correction to 0.75x zone happening. But perhaps not.
Because of that, I am not carrying any long until I see an adequate correction.
The same to get NZD, correction to around 0.6920 zone.
It is very true lot of times AUD and NZD go up straightly with no corrections, only pauses.
Let us see, since USD is getting weaker.
Closing in on very important overhead resistance (7750). That is why I recommended to wait for a better short trade arrangement. It's likely coming up next week, and the timing is also perfect for a fashion change - end of month. New phase, new trend.
Will begin scaling into shorts as we near 7750. First PT is 7500, will not get there overnight, this trade will take some time.
There is a possibility that it is going to go down.
But nearby there is support, which can be a springboard north west.
This really is a issue.
My impression was that on last friday's USD rally market celebrated all needed signatures.Quote:
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Very true. The tax deal is 90% priced by currently in DXY.Quote:
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Having said that what I figure is this: EURUSD was annihilated during the run-up in DXY, and the two antipods (AU and NU) got nicely bid. I figure this will be a rotation out - EU will get bid / will change into bull mode and the two antipods will probably turn into bear mode once they activate strong overhead resistance.
Still some upside down however, so just short upon effect intro strong resistance.
PS: EURAUD can flip into bull mode big time - EU upward and AU down - EURAUD can operate up as much as 400-600 points in 2 weeks. ))) Just saying...
I exchange AUDUSD entirely, would be good to take part and learn about more technical analysis. subscribed.
I'm waiting to get a close above bearish engulf on the weekly and new slopes around the daily before taking longs.
https://www.forexforum.co.za/attachm...8333618050.jpg
Revised load zone is quite close to the final price on Friday. Buy shallow drops near Sunday available (25-35) STOPS @ 7605 goal (take) is 7715.
If you are monitoring AUDUSD this week, then consider this technical perspective.
On the daily time frame, price action is respecting a resistance trendline (navy color) from the high of September 8, 2017. Even though the order flow is blended, bears are very much influential. For much of last week, bulls took price northward but bears controlled the movement on Friday. The Friday candlestick printed bearish however we might observe some battle in the effort of bears to take price farther south as price action is in a major support zone. But, there could be a retracement to test the resistance trendline prior to any bearish turnaround. Should bears succeed in a follow through we might observe the 0.74970 area exposed as a goal.
About the H4 time frame, price action is respecting a resistance trendline (magenta color) from the high of September 22, 2017. A descending channel was formed while the resistance trendline is aligned with a support trendline from the lows of recent candlesticks. The most recent price action is at the distal or channel resistance line. There, a flag pattern formed on Thursday and part of Friday last week but was broken southward. We might anticipate bears to follow along with a further transfer. The 0.75360/0.75103 zone is a direct support zone and might be attractive to bears as an original goal. Attempts by bulls to induce price northward could be mitigated by the resistance trendline (navy color) seen on the daily time frame.
I might be incorrect. Trade safe and prosper.
KP
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My prediction for Aussie next week !!
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Agree, I am looking for bear entrance, gold is moving sideways, beneath a bit of sell pressure. But will see London opening how it goes.Quote:
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That was only a little bit of fun in the morning, while the true wave count could go like this:Quote:
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https://www.forexforum.co.za/attachm...6578299135.jpg
Best to your transactions!
I didn't touch the pair yet, no actual signal yetQuote:
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Iron Ore at 3 month high @ $74/ton. This could be what's holding AUD above 0.76.
Nope. . The DXY controls the AU as it controls most pairs.Quote:
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AU has its own mind, should you review the correlation diagr, you might find that AU keeps swapping and turning. AU is commodity heavy. It's one of the pair to exchange.Quote:
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Do you have stops? Cause you will require a 50 point-wide stop for this particular trade to live.Quote:
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Moved stop loss to top of (two), possible target near 0.7579Quote:
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Sold @ 0.7668 , tp: 0.76067
Hourly chart.
I see one more upside to around.7700 region before downmove.
Will track price action at .7700 region before I execute some shorts.
Cheers!
https://www.forexforum.co.za/attachm...8081376664.jpg
Again same opportunity
sold more @ 0.76690
TP: 76067
omg. It's going to pop up 40-60 points and also you fellas still shorting it. https://www.forexforum.co.za/attachments/1526849962.png
To utilize the language used by analysts, that the increase could be priced in. In other words, people already pushed the USD up before the announcement in hopes of a hike. Thus, when the hike was declared, it was the highest degree USD could visit due to the increase, hence those who began pushing the price upwards sold/took profit. As such, we have our very first selling pressure. The second selling pressure could be due to people who purchased after the announcement. This group of people feel that USD will rise following the announcement, and when the profit-taking from the prior buyers happens, they are caught with their pants down quite literally and consequently, this activates another round of selling.Quote:
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That is my view why there was a sell-off. I could be right, could be incorrect. Just hope it provides you a view.
If you like my talk, you can find more here.
Thank you.