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Thread: AUD.USD

  1. #16
    Kanga ru Xerof's Avatar
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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

  2. #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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  3. #18
    Kanga ru Xerof's Avatar
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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

  4. #19
    Kanga ru 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

  5. #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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  6. #21
    action-reaction arco's Avatar
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    Hers a chart showing the levels



    arco

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  7. #22
    action-reaction arco's Avatar
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    Easy 50 pips overnight for short term traders......





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  8. #23
    action-reaction arco's Avatar
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    Here's the chart.....I hope.
    (Please let me know if its not showing).

    .........Currently +64 pips









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  9. #24
    Kanga ru Xerof's Avatar
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    not showing Arco

  10. #25
    action-reaction arco's Avatar
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    Thanks Xerof
    A problem with the image host.

    Try this now.



    arco
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  11. #26
    Kanga ru Xerof's Avatar
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    Yes, the famous Gartley is there for all to see !!

    Thanks Arco

  12. #27
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    someone mind explaning what the gartley is ? and how one can see it and what it means ?

    *am going to buy that trading by candlesticks book at boarders, will start to play with good old FX , initial capital of 2k, risking 200 in the stop losses, using mini conracts via IG markets*

    using the 2k outlay as training if i lose it all then meh only 10 weeks wages for me
    Oil - NZO
    REE - ARU
    Copper - EQN/OXR/TMR
    Iron- AGO/ADY/UMC
    Nickel-WSA
    PGM/Gold - PLA/VRE

  13. #28
    Kanga ru Xerof's Avatar
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    http://www.investopedia.com/terms/g/gartley.asp will give you a brief outline, but Arco is the main man for Gartleys.

    regards


    Xerof

    p.s. Dazza, strongly suggest you start with a demo account before tossing your capital at it. Rather see you in for the long term than blow your dough in 5 minutes and give up

  14. #29
    action-reaction arco's Avatar
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    Dazza
    quote:*am going to buy that trading by candlesticks book at Borders
    I have most, if not all, of the candlestick trading manuals. My recommendation would be Steve Nisons 'Japanese Candlestick Charting Techniques'. It is much more in-depth than the others.
    There is more to candlesticks (or any price movement analysis) than just a bunch of patterns, names, formations...the other books are far too brief. I cannot emphasise this enough. IMO it is not advisable to trade on candlestick patterns alone, and you will need to use them with other indicators to confirm possible trades.

    Re Gartley
    One of the formations that Larry Pesavento (Fibonacci Ratios with Pattern Recognition / Profitable Patterns for Stock Trading )looks for is the Gartley pattern, which is named after H. M. Gartley who wrote 'Profits in the Stock Market' in 1935.

    arco

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  15. #30
    action-reaction arco's Avatar
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    Dazza

    I should have mentioned this site which might get you started
    while you wait for your choosen candlestick book.

    http://www.daytradingcoach.com/daytr...ick-course.htm

    arco

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