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Thread: AUD.USD

  1. #11
    Guru Xerof's Avatar
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    AUD has done five waves off its circa 80 cent high, and has held trendline support circa .7625. Bounced nicely today and looks like it'll rally towards .7750/80 area before heading lower again in killer wave C

    Xerof

  2. #12
    action-reaction arco's Avatar
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    7813 should hold any further advance....
    reversal southbound imminent IMO

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  3. #13
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    Arco, I don't disagree with you, but here's another EW interpretation to consider. Hmmm

    http://www.fxstreet.com/nou/content/...hnicalanalysis


    regards

    Xerof

  4. #14
    action-reaction arco's Avatar
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    Good Evening Xerof

    Many thanks for the link.
    I will study their EW counts and give my
    thoughts tomorrow AM.

    I took my profit on AUD a few days ago, and have not
    re-entred as yet. I would prefer to see if the 7813
    will hold as resistance before taking the plunge.

    arco


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  5. #15
    action-reaction arco's Avatar
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    Good Morning Xerof

    I tend to do my own wave-thing so I will
    leave long term EW counts for the
    E-wavers to argue over.

    My interest is in the short/medium term
    movements, and my thoughts are as follows.

    The recent high was a '5'

    The recent low is a 5 leg move, forming either 1 or A.

    7813 (previously mentioned) is a possible strong
    resistance area IMO. (If this fails AUD's next move
    will be higher). That line is holding so far, and
    overnight action has formed a Bearish Engulfing Candle,
    with the oscillator dipping below zero.

    arco




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  6. #16
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    Good Afternoon Arco,

    To my untrained Gartley eye, was there not a bearish Gartley evident on the daily AUD/USD chart, which has broken to downside to perfection in the past 24 hours?

    Xerof

    IMO Aud looks ready to tank lower

  7. #17
    action-reaction arco's Avatar
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    Xerof

    Butterfly - Well spotted.

    We now need to see a break of the recent pivot low.

    arco
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  8. #18
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    Recent lows around .7630 complete a, .7803 seen few days ago was b, wave c now in progress IMO, and might be a chance early this week to sell (or add if already short) at around 7750, (stop above 7780) then tora tora tora, dive dive dive[][][]

    good luck, happy trading

    Xerof

    edit: has become a little more convoluted so wave counts mentioned above no longer apply - curently in a c or ii to equal first a at 7803

  9. #19
    Guru Xerof's Avatar
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    Well, here we are in the mid 77's as forewarned. Will now run a trailing sell stop entry, as this rally might just stretch to low 78's

    Xerof

  10. #20
    action-reaction arco's Avatar
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    IMO 7812 could provide formidable resistance,
    forming the end of a 'B' wave before 5 down.





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