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Thread: AUD.USD

  1. #31
    Guru peat's Avatar
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    seems to me that Aussie just popped out of an ascending triangle formed during the last 24 trading hours

    edit : will try to be more precise now , and specify a target of 92.50 plus 60 pips = 93.10 , this being the size of the triangle)

    have started buying and will buy on dips with stop loss 92.20
    Last edited by peat; 25-02-2008 at 06:46 PM.
    For clarity, nothing I say is advice....

  2. #32
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    Finally made it to 0.925. A few days late. Still feel that there is positive sentiment out there and the general move will be up. Will stay long and trade on the dips. Feel confident about 0.93 by the end of the week.

  3. #33
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    hasnt conformed to my pattern. trade alive but its just random now.

    heh
    it turned pretty soon after I made this post. was more of a gartley in the end tho not a proper one.
    Last edited by peat; 26-02-2008 at 08:00 AM.
    For clarity, nothing I say is advice....

  4. #34
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    Yeah a little nervous at the moment. This guy http://advisor.fxstreet.com/ is a US$ bull at the moment but the only one I have found. Still making short trades with a long bias. So ignoring the advice. Has being some nice trades and seems more volatile in London trading than Aussie trading.

  5. #35
    Guru peat's Avatar
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    Quote Originally Posted by peat View Post
    a target of 92.50 plus 60 pips = 93.10
    target reached.
    For clarity, nothing I say is advice....

  6. #36
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    Quote Originally Posted by peat View Post
    target reached.
    So what now?
    Some are picking .94/.95 near term and 1.00 in the not too distant future - before the Kiwi....!

  7. #37
    Guru peat's Avatar
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    I dunno Bilo

    You see I cant play feelings coz thats how I lose... so I need a pattern to trade. So I just look for technically based patterns and that gives me a concrete strategy. they dont always win but they seem to do better overall than hunches or feelings etc....
    For clarity, nothing I say is advice....

  8. #38
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    worth a look back at the big picture where it can look crystal clear

    this is a monthly chart

    simple zig zag A B C correction

    5 waves up A

    3 waves down B

    5 waves up C

    often A = C

    currently in fifth wave which should terminate around parity

    just as simple as being a big round number will see the action get pretty close

  9. #39
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    can now zoom in and study structure of the 5th wave from the monthly

    currently correcting in 4th ( today )

    4th likely to be a triangle

    before termination of fifth

    i would trade it very carefully from now on as the third wave easy pips have gone

    the fifth wave could take many forms and may be good for scalping trades

    the money trade is the correction which will commence after the fifth has completed .

    waiting for that

  10. #40
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    Quote Originally Posted by dumbass View Post
    can now zoom in and study structure of the 5th wave from the monthly

    currently correcting in 4th ( today )

    4th likely to be a triangle

    before termination of fifth

    i would trade it very carefully from now on as the third wave easy pips have gone

    the fifth wave could take many forms and may be good for scalping trades

    the money trade is the correction which will commence after the fifth has completed .

    waiting for that
    I like it D!
    At least - it gives the result that I think most people expect and something to watch out for.

  11. #41
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    looks like 4th wave complete at 91.50

    possible entry on wave 2 retracement to 92.50 area for run north to parity ?

    risk limit 91.50

    4th wave has printed bull flag

  12. #42
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    Hi DB

    Not sure about parity, but certainly looks like Aussie could
    be north bound to around the .9650-.9900 zone (red box).

    Blue line is critical if the EW wave is correct.

    rgds - arco
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  13. #43
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    Big fall today, but the action is still currently holding above
    the critical EW count line shown on the last chart. (Must
    stay above .9100)

    I managed 100 pips off a one order last week but the balance
    got stopped on Friday night at +50

    she'll be right


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  14. #44
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    A 3c trading range for the day, and still holding above 91 although currently on its low of 9155
    Death will be reality, Life is just an illusion.

  15. #45
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    took a long on this one , market all over the place but when such a good risk reward trade comes along you got to take it

    91.00 is the big line in the sand for two reasons

    refer back to daily chart the internal count i ii iii iv v would be expected to correct to bottom of iv 91.20

    4 wave can not enter territory of 1 again around 91.00

    so worth a punt risking 70 pips for many

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