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Short AJ again here at 86.00.
Wish my disability check would hurry up and get here so I can buy some srty lmao.
Totally agree SG more people on the govt tit. More taxes to pay for more and more and more it just never ends.
Just read something that said if euro deal and china rr info can't push it higher then what will. Gotta say I agree and the equity action here has all the making if reversal candle/top. Down 50 up 30 etc you can tell indecision is here
I think they going back into hiding SG. Today gonna wind up an ugly day I think
Yes indeed. I'll be trying to get short AU at 1.0730. Got another order on AJ for 85.95.
Started me another AJ short here at 85.70.
Yeah I'd really like to be short but not here.
Well we've got a 50/50 chance of making money here but 50/50 just isn't worth the risk. Something about the crossflows and the charts make me thing the correlations are getting out of whack a bit. There's a great looking 15 min pin candle back there at that low on AU that I feel like shouldn't be there if we were going lower yet the chart looks more like an absence of bids instead of selling pressure. Hard to put my finger on it so I'll just sit on them! and maybe do my taxes today lol.
Well I got out for a few pips there and about 12 on AU long. Something doesn't feel right about this whole thing so I think I'm just gonna not trade any more today. There are some deep undercurrents driving these things and I want to make sure I understand exactly what is taking place before I put any more money out there. I feel like I've been lucky so far with my trades today and luck just isn't good enough. I can't even figure out why there would be a pin candle there on AU at that spot.
I shorted EG at .8445. I think they're all toast.
Looks like the longs won the EURGBP battle. Blowing up. It is at the .618 where I would expect a wave 4 top to be though.
To me EURAUD looks like retrace so the crossflows from that pair if it does retrace could take some of the downward pressure off of Aussie. should be either big pop or big drop.
Sorta goofy isn't it right now. Would expect to see some carnage in equities for it to be this low. I'd say it could go either way with another run at 13,000 or just capitulate and fall all to pieces.
Would appear it may be off to the races there at the .618.
That might be a rather good longish term trade SG with the market baseline above 68 on the TDI. Don't see that too often on the daily chart.
lol that's what I thought too!
Yeah it's pretty interesting. Although I've found with coding that it's very hard to teach a computer to see something that you can't see with your eye in half the time. Guess I would like something that put their count out there and then compare mine to.
You heard or read anything about this?
http://www.elliottwavespro.com/
I closed my AJ short here too. Pretty nasty looking daily pin candle up top so I feel like the top is in so anything short above here consider myself lucky.
Could be but I think we're long overdue for a couple of back to back triple digit losses
I feel like equities red tomorrow in a big way
Interesting little wave count based off of the .5 extension down to the 3.618. First glance it looks like a completed sequence but I'm not so sure that the 3.618 isn't the end of wave 3. I really think EUR is the key to trading all the pairs right now and the crossflows are what is going to drive these for the next several weeks or maybe months depending on EUR. Sort of like a balloon where you press in on one side and the other sides bulge out.
Me thinks your right. Up 50 pips or so on my AJ shorts and I'm letting them ride to that bottom trendline somewhere around the 81 area.
May be best to let that euraud short chart unwind some before going long aud when they cover that it is naturally going to make aud go down
I think it's very close to your Tonya.
I think he is using the fib tool a lot in conjunction with the extensions like 1.414, 1.272, etc. For whatever reason he seems to like the ATR(126) because I see it on all his charts. I see he looks for a 161 percent of the ATR (126).
Pennies here is a guy who uses the ATR in a way that really makes sense. I like his charts and the way he uses the fib tool but he is looking for the 1.61 of the ATR.
http://bearmarkettrading.blogspot.com.au/
http://2.bp.blogspot.com/-5pvq_Mh2Auw/T0FzAb70_5I/AAAAAAAAAWM/-S5cXj2Dwrg/s1600/aud+4+hrly.gif
I'll be glad if we get some help from the EURAUD longs. Nice bullish divergence on the weekly TDI baseline and the daily TDI baseline is bottomed out. We get something good from the euro and it may be disconnect time from risk-on for AUD due to this chart. I think it's a better risk/reward for AU shorts, good EUR news and they push Aussie down with covering, bad EUR news and it's risk off in equities (although it may have some unintended consequences with the inner workings here).
Well I went ahead and joined you here at 1.0807. Hope tomorrow comes and we're still glad to get filled.
Maybe they'll hit my 1.0820 after all I had almost given up.
That looks very interesting SG. I'm not at home now but while try it later. Have you tried the fib tool from the last high or low vs the RSI window high/low
When the EURAUD weekly chart looks like this what we saw today on AU is probably just a bit of what is to come. They start covering that cross in earnest by buying Euros and as a consequence selling Aussie then probably much downside left in AU I would think and at some point some dramatic bounce. Call me a buzzard but hell I might even take a poke or two at EURAUD long.
Well I dunno SG I had to go to work. Been thinking though that all these spikes up and down to these fib levels may be more the result of the huge short position unwinding on euraud. Chart looks prime for further run to me. Sometimes though the undercurrents of movement are hard to nail down though and there may be some unexpected effects of all this. Repatriation is difficult to figure out the cycle on but I've seen stuff go totally in unexpected directions