AUD.USD

[dumbass]

price has now corrected starting to look good for going long 96 00 area

[dumbass]

aud starting to look toppy

theres a lot of fib levels around 98 50 - 98 70

still believe it will have crack at 1 but maybe time for a rest

looking to short from confirmed entry at break of upper trendline

hey peat , key level for aud at moment, technically a close below 2008 up trendline but

needs confirmation.

i was shaping up for a long but my feeling is the aussie is going to break to the downside

which should give some good pips, may bounce of here but i'm starting to see dollar bullish

signs across the majors. which may mean 98 was the top looks like a terminal wedge

pattern

any thoughts

[peat]

agree that its a key level... on the daily its done a 78% retracement of the last leg up so that the gartley trade would be to buy with @ 9565 with stop at 9470 target 9710 ...so thats risk 95 for 145 gain... not that I'm doing that trade but its the way I see it. and of course if it broke 9470 that would be a failed gartely and turn into a bearish scenario

on the weekly tho the trend line could be a bit lower than you suggest?

using Netdania for the weekly and it sets the lines of the lows precisely.

[dumbass]

i suppose it can be a subjective issue , personally i would draw the trendline on the

monthly slightly higher to have an overshoot and catch the recent action but it leads

to a greater chance of a false break .

your trendline is more conservative

ha ha peat conservative ??

im watching gartley

thanks peat appreciate it

[roddy]

Hi All

have a tentative long on this one,as hrly is bouncing off.9285
long at .9327 with a stop below .9300

[arco]

HI Roddy

Yes certainly worth watching for the turnaround / reversal pattern
to appear

rgds - arco

[speres]

hey people, first post. Certainly don't like calling those bottoms especially on a down trend like this one.....

[arco]

Welcome speres


Idea is don't try to catch the falling knife - just wait for
a confirming reversal before committing.

rgds - arco

[roddy]

Hi Speres,

welcome and i will look forward to your posts!

roddy

[speres]

Arco, couldnt agree more.

Hopefully I can add some value Roddy.