Australian Dollar …. (a no-brainer trade set up ? )
Last week ….W hile the whole world of traders out there are watching the stock-market and wondering Which Way is Up …
Just look at what the Australian dollar has been up to … It basically has been quietly forming a base ,,, while m ost eyes are on Stocks ,,,, I’ve seen this movie before and and I didn’t like it last time around … This one looks like its going to sneak up on a lot of people ….
These chart formations are a base on Daily charts ,, I didn’t even look at the longer term weekly charts ,, in order to see what’s really going on yet /…. Because this one is in some kind of channel and it has not 1 but 2 overhead gaps …. This is an instance where the futures traders who ‘s eye is well trained and have lost enough money in the markets, such as myself , can really sit back and see the importance of these overhead gaps …
Clearly, you can clearly see that if you trade FOREX ,
These gaps are not apparent to the intraday traders out there …. They are blind to this fact …..
Talk about risk to reward , look at the 2nd chart posted here… this market the Australian Dollar , has multiple support ….
And its happened quite a few times …. The way I am thinking about this one is ,,, What is the probability of this going back up to the .7800 area ? Well , I really don’t care to calculate it,,, because placing a stop just under .7500 looks like it could hold up moving forward …
Next , week any pull back in the Us Dollar should cause a rally here ( futures contracts ) …. Lets watch and see ,,,,
Any comments ? ………….
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
MARKETWAVES
29th-May-2005, 01:20 PM
Australian Dollar …. pg-2
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
Smurf1976
29th-May-2005, 01:36 PM
As a short term trade you could well be right. But look at a long term chart and the AUD is right at the top of the range and looks to have formed a double top over a rather long period. Look at a long term chart of the USD Index and it has bounced off the 80 level which marks the historic low point from which it has always bounced.
In other words, I think the AUD is headed sharply LOWER long term (months, years) but you could well be right about a short term rally.
My observations about the long term are based on both fundamentals and to a lesser extent the charts.
DTM
29th-May-2005, 09:40 PM
Looking at the AUD and USD on daily charts, I'd be more inclined to say that the USD is going to shoot up short term, say next few weeks.
It looks like the USD is finding support around $1.31 AUD mark and pressure is building for it to go up. :2twocents
Nice charts again Market. :bigthumb:
MARKETWAVES
17th-June-2005, 03:38 PM
Australian Dollar an update ...
What a formation we have developing here ...
Have'nt seen one like this in some time ..... These are great times ..
The posture is extremely bullish .....
What we have here appears to be an Ascending Triangle which is a classic chart formation ..
THIS IS A TYPICAL SET UP , that I am trying to illustrate the importance of Buying before a Break-out .....
Any pull back in the Us Dollar which is over bought right now should cause this one to go North ...
WHAT IS ALSO UNIQUE IS the time analysis on this chart formation starting from a significant high ,,, This why I am always urging people to read about Fibonacci ......
If you really appreciate thes 3 charts ,, bear in mind that I could not see this without a good understanding of Fibobnacci Retracements levels ....
Read all about Fibonacci ,,,, Research Fibonacci Retracements,,,,,,
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
tech/a
17th-June-2005, 04:03 PM
Timing is everything with retracement trades.
Currently the gap to stop (Base of the last lowest low) is far to wide in my veiw.
A buy at or within a few ticks if support would have been a great time to buy.
Are you suggesting buying NOW?
If so what is your stop point if wrong---Fibonacci is often far less than an exact science!!---
If not where would and when would you buy?
Can you save your charts as Gif's as they take for ever to load.
RichKid
17th-June-2005, 04:35 PM
If that last chart shows a small HS pattern and it is valid then we'll be looking at a return to the uptrend line you've drawn (NL of larger H&S pattern), a bounce up off that line would be a far safer trade imo but then we may miss out just waiting for it if there is a breakout from around where it is now. USD appears to have a bit more steam in it so maybe the Aussie will fall more short term.
MARKETWAVES
17th-June-2005, 04:55 PM
FIBONACCI IS NOT AN EXACT SCIENCE I AGREE ....... but no other type of anlaysis out there is either .... if the stop gets taken out ... this is where Risk to Reward comes in ,,,,
Please don't confuse Risk to Reward with Money Management.... They are two diffrent things , respectfully .
A small stop on a set up like this is OK ,, if it gets taken out ... IT IS CONROLLED RISK .
EXAMPLE ............
1F YOU TAKE 10 TRADES THAT ARE SAY 4-1 RETURN OR HIGHER AND YOU ARE WRONG HALF THE TIME ... YOU WILL STILL BE AHEAD ....
What I have learned over the last 2 and a halph Yrs of observing the markets ... is that the Pros concentrate on Risk to Reward ..... The Amature is concerned about being right all the time .
This is what seperates the Winning Attitude from the Losing Attitude ...
I am by no means calling any one names here,
So Please don't take offense ,,, I am just attempting to communicate a point ..
RichKid
17th-June-2005, 05:00 PM
FIBONACCI IS NOT AN EXACT SCIENCE I AGREE ....... but no other type of anlysis out there is either .... if the stop gets taken out ... this is where Risk to Reward comes in ,,,,
Please don't confuse Risk to Reward with Money Management.... They are two diffrent things , respectfully .
A small stop on a set up like this is OK ,, if it gets taken out ... IT IS CONROLLED RISK .
EXAMPLE ............
1F YOU TAKE 10 TRADES THAT ARE SAY 4-1 RETURN OR HIGHER AND YOU ARE WRONG HALF THE TIME ... YOU WILL STILL BE AHEAD ....
What I have learned over the last 2 and a halph Yrs of observing the markets ... is that the Pros concentrate on Risk to Reward ..... The Amateure is concerned about being right all the time .
This is what seperates the Winning Attitude from the Losing Attitude ...
I am by no means calling any one names here,
So Please don't take offense ,,, I am just attempting to communicate a point ..
MW,
I agree wholeheartedly, you have made an excellent point, not that it hasn't been repeated before here but it's worth stating it again and again. So even if this is a stuff up (or a success) the question I suppose is what is your downside risk (ie the stop) and your upside target (ie the estimated profit) and the obvious one, where would or did you buy? That'll put the RRR into hard numbers.
tech/a
17th-June-2005, 06:00 PM
MW.
Completely agree.Re analysis.
Please also understand that you are not alone here with your understanding of Fib or Money Management or Risk Control.
As Rich says-----hypothetical case senarios have no relevence to actual trading unless we can see the implementation (In Realtime)---this is the acid test to any trading technique.10-20 trades in realtime will give an idea of actual R/R.So rather than just showing analysis can you show implementation,so that its progress can be monitored---win lose or draw!!?
You've still not answered my questions.
Your explaination of technique is excellent--your explaination of examples of trade implementation are so far non existant.
I and Im sure others are interested in where youd take a trade (Respective of analysis) where youd set the stop and when youd call the trade (Not in hindsite--but in realtime).
There is no point in saying your right now after the fact as we cant put a retrospective trade on!!
So
Are you suggesting buying NOW?
If so what is your stop point if wrong---Fibonacci is often far less than an exact science!!---
If not where would and when would you buy?
Battman64
17th-June-2005, 08:14 PM
Risk Reward Ratio (RRR) &
Percentage successs rate of trading plan.
These two require great consideration.
In my opinion.
RichKid
18th-June-2005, 12:01 AM
Here are charts from www.futuresource.com. It has intraday and longterm charts for most futures contracts (maybe all but I don't know em all). Thanks to MW for alerting me to the AUD action today. Over to you now...
(These charts are hourly and 15min as of the time of this post)
tech/a
18th-June-2005, 02:26 PM
Risk Reward Ratio (RRR) &
Percentage successs rate of trading plan.
These two require great consideration.
Neither have any practical relevance without 2 critical "Knowns"
To hypothisise an acceptable R/R and rate of success without KNOWING these 2 critical elements---render a well placed stop and a 4+ return to risk on a 70% rate of success---little more than a gamble.
RichKid
18th-June-2005, 11:18 PM
Risk Reward Ratio (RRR) &
Percentage successs rate of trading plan.
These two require great consideration.
Neither have any practical relevance without 2 critical "Knowns"
To hypothisise an acceptable R/R and rate of success without KNOWING these 2 critical elements---render a well placed stop and a 4+ return to risk on a 70% rate of success---little more than a gamble.
If this thread becomes a discussion on money mgmt generally we may have to start a new thread. If not would be good to relate it directly to the market being traded. MW/Tech either of you can suggest entry, exit, stop, position size figures etc for a possible trade if you like. That appears to be the contentious issue here in relation to this specific market. Heck, even inexperienced RichKid may make a suggestion re entry, stop, exit etc for this trade but general mm issues are separate. Maybe one of Tech's old money mgmt threads may be a better place to debate the issue. Just trying to keep this on topic.
MARKETWAVES
19th-June-2005, 07:32 AM
This is an update ....
Tech A please , obseve ....
........to this post earlier last month...
This is also being posted to show that there is no hind sight analysis ivolved .
1st chart ....... (is Before ) ( the set up )
2nd chart ............ ( is whats happened since it was posted )
( an update )
MARKETWAVES
19th-June-2005, 07:33 AM
TECH A ... THIS IS 3 OF MY RECENT POSTS ....
NONE OF THEM WERE PLACED AFTER THE FACT ,
They were all forward looking ... I understand the importance of what you are saying , but please STOP putting me in that boat of people that are all hind sight ....
I am being asked here to give exact buy sell hold and stop signals for trade set-ups yet .. I don’t see any one else doing it ... All I am seeing is disclaimers on posts all over the place ,,
I wonder why ? ,,,,,,
No one wants to be responsible for causing someone else the pain of a loss... it seems ......
Recently I have joined this forum last month to be exact , and I have searched through your posts and the posts of Rich Kid , looking at your posts as you do mine , but where are the entries and stops? ,, how do you manage? ,, These are the same questions being asked of me ...
THIS IS THE EXACTLY REASON TECH - A WHY I ASKED you last month if I can send you trades ,, and we can keep them in a spread sheet for all to see ..... Do you remember that ? Well , you bowed out gracefully out of that one . You didn’t want me to send the trades so that there would be no question in your mind about This HINDSIGHT BUSINESS .....
It just doesn’t seem right ...........
Bottom line , I will do some posts with entry signals and objectives , but please let’s see some of yours ., and I am also keeping a keen eye on Rich Kids posts also, of whom I believe should do some posts explaining his buy and stop areas on a chart also ....
I'm sure the whole forum would appreciate this don’t you think ?
Below are my 3 posts that were posted around the 25th of last month, and how they are doing these days …
All three are questions and hypothesis.
Not one says at the date of posting a clear trade suggestion.
Gas says you expect bottoming so as an example at that time is it a short trade to support OR a wait and see for a long if the support holds.
I want to see how you USE your analysis not just the theory behind it!
As for my posts on trades---I have a technical analysis thread on current trades just re started as Im now in Aust for a while the analysis is similar yet very different to yours---a good thing.
When Reefcap goes back on line you can follow 3 yrs of them there with a running portfolio.
THIS IS THE EXACTLY REASON TECH - A WHY I ASKED you last month if I can send you trades ,, and we can keep them in a spread sheet for all to see ..... Do you remember that ? Well , you bowed out gracefully out of that one . You didn’t want me to send the trades so that there would be no question in your mind about This HINDSIGHT BUSINESS .....
Waves dont know what this is about(Not wanting you to send trades--please do!) I've been Overseas for 3 weeks happy for you to do this infact be very glad if you do.Would be fantastic to follow.
Thanks Waves.
MARKETWAVES
19th-June-2005, 03:00 PM
v #7 30th-May-2005, 11:15 PM
tech/a
Senior Member Join Date: Oct 2004
Location: Adelaide.
Posts: 963
Dont know that we need a spread sheet---just a chart showing the entry and your thoughts for the future of the trade---a chart if stopped and a chart when you exit.That way we can follow and comment.
As of Friday Im O/S for a fortnight so my comments and input will be zilch over that time but lookforward to haveing a look on my return.
tech/a
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DTM
19th-June-2005, 04:45 PM
After dropping, the AUD looks stronger. It has broken out of its channel and could be on its way up again. Fundamentals look good too with the higher commodities prices and fall in Trade deficit so it could be on its way up. Conversely, oil and gold is up which is never a good thing for the USD.
It looks like it will retest the former resistance line and I think it looks like it will stay up.
tech/a
19th-June-2005, 05:33 PM
Waves.
Whats the big deal?
I said I didnt think it was necessary.If you posted the trades as they would be traded as you saw it.
This hasnt been done.Just ideas from your analysis of what COULD occur.
If you wish to call trades so that we can see the analysis in action that would be great.
If you wish to run a spreadsheet on all trades then that would be helpful and easier to follow I guess,so fantastic.
As it is I cant tell wether your taking a trade or waiting for a setup to pan out---in which case Id like to see when you would take a trade---out of interest for your charting.
Is it that hard or am I being un reasonable?
RichKid
19th-June-2005, 09:46 PM
Waves.
As it is I cant tell wether your taking a trade or waiting for a setup to pan out---in which case Id like to see when you would take a trade---out of interest for your charting.
Is it that hard or am I being un reasonable?
I think this is the issue here, we seem to be at cross purposes. This is not to hassle you MW, just to get an idea of how you apply your work in real life, as TechA says we're not sure if you took the trade and if so where and how etc. The numbers will tell it.
Well I've posted very specific info on entry/exits/stops in some trades, but not all. That is because, as I freely admit, I'm a newbie and I'm still learning, so I don't have a solid theory to promote. Also I don't trade that often and I don't have time to post at every step. One trade where I was very specific is the Destra thread: http://www.aussiestockforums.com/forums/showthread.php?t=578&highlight=destra Also some others but I don't think there was as much detail. My most recent trade is my PRK trade http://www.aussiestockforums.com/forums/showthread.php?t=1364&page=3, I'll post my entry (actual figures from before I placed my order). Hope that gives an idea of what is expected. TechA has also traded a few recently with clear stops, entry signals etc stated, see here: http://www.aussiestockforums.com/forums/showthread.php?t=1385&page=1&pp=10.
So maybe we can now get back to this promising pattern in the Aussie dollar...maybe you'd like to provide links to some of your earlier threads techA if you'd like to illustrate some points on risk and mm which you think have not been covered by MW and we can debate it in that thread??
Also, these technical debates can get heated but remember the object is to analyse each others methods and views rather than to just disagree so let's keep the debate robust rather than rowdy. So far so good.
Smurf1976
19th-June-2005, 10:53 PM
A daily chart of AUD/USD looks rather symmetrical to me. Mid point 2nd of March with the recent low on 1st June corresponding with the one on 10th December 2004.
I have no idea how valid this thinking is but if you look at the chart since late last year then I think you'll see what I mean.
If we keep following the same path then two possible scenarios seem to exist. One is that the top for this move is .7945 based on reaching the same price. If you look at it from a time perspective then we are at or near the top. Either way down hard after the top.
Can anyone tell me if this has any validity or not. :confused: :2twocents
Smurf1976
19th-June-2005, 11:14 PM
Measured against the USD, the AUD and NZD move broadly inline with each other.
Also it's worth noting that both have been on the receiving end of the same borrow USD at 1% interest / buy AUD/NZD at much higher interest carry trade. With rising US interest rates that should be coming to an end which removes a significant support for the AUD/NZD in my opinion.
If you look at the NZD chart this recent move up looks far less impressive. :2twocents
RichKid
19th-June-2005, 11:19 PM
What I have learned over the last 2 and a halph Yrs of observing the markets ... is that the Pros concentrate on Risk to Reward ..... The Amature is concerned about being right all the time .
This is what seperates the Winning Attitude from the Losing Attitude ...
MW,
I like that point, has been mentioned before but I sometimes find that I just feel hamstrung wanting all trades to be perfect winners, so the more you mention it the better. Tech has been sharing similar statements in other threads and hopefully we'll get more people like you folks raising these important points.
RichKid
20th-June-2005, 05:21 PM
Okay back to the charting. This is an hourly chart of the AUD/USD as of a few minutes ago. Stochastic suggests it is slowing down and preparing for the next surge up. Or am I reading it wrong? MW, any views? Still some way to climb to test resistance.
Smurf1976
23rd-June-2005, 09:34 AM
Does anyone have any updated views now that the AUD/USD seems to have run into some resistance?
My own thinking from a more fundamental / sentiment perspective is up in the short term, down in the medium/long term. I am presently out of this market though. :)
excalibur
25th-June-2005, 05:50 AM
Does anyone have any updated views now that the AUD/USD seems to have run into some resistance?
My own thinking from a more fundamental / sentiment perspective is up in the short term, down in the medium/long term. I am presently out of this market though. :)
According to RSI and ROC she is going in for a dive.
Here's an update ... 3 chart updated the Australian Dollar appears to be selling off into this major support area .. ( futures contracts ) ., longer term ...
looking for some kind ogf weeknes in the us dollar going forward to lend possible support . can the us dollar dollar rally get stronger and push the australian Dollar below this long term support line ? .. Well , lets wait for thnae next feds meetingv and see what the they do ...
RichKid
4th-July-2005, 03:12 PM
Here's an update ... 3 chart updated the Australian Dollar appears to be selling off into this major support area .. ( futures contracts ) ., longer term ...
looking for some kind ogf weeknes in the us dollar going forward to lend possible support . can the us dollar dollar rally get stronger and push the australian Dollar below this long term support line ? .. Well , lets wait for thnae next feds meetingv and see what the they do ...
MW, thanks for the great charts again, I've been watching this one closely of late. I may actually trade it if I see a trigger, just stalking atm. Some measured move analysis might provide some interesting downside targets to watch in combination with the support levels.
Is anyone here thinking of entering or are you in a position already? I'll post my trades here if I enter, anyone else like to do the same? No obligation, just good to discuss it imo- win or lose it doesn't matter. Nice to see clear trend lines, another good thing about forex.
RichKid
12th-July-2005, 12:50 AM
Looks like it bounced off support again, if it doesn't climb higher on the hourly chart it may pullback a bit first, watching the stochastic closely. How are others viewing this?
MARKETWAVES
17th-July-2005, 03:19 AM
Here's the update for the end of this week ,,,
FORWARD LOOKING ...........
MARKETWAVES
17th-July-2005, 03:35 AM
MARKET WAVES ...
ON THE AUSSIE DOLLAR
THE AUSTRALIAN DOLLAR LONGER TERM LOOKS LIKE A MASSIVE ASCENDING TRIANGLE HAS FORMED ... ( WEEKLY CHARTS )
What makes this one stand out is that there appears to be an upside-down head and shoulder pattern inside of this massive ascensding triangle formation.... we will need a close below .7200 to negate this formation ,,, Basically, I don't believe that the Australian Dollar has a bearish posture ..
WHEN LOOKING AT THE DAILY CHARTS ( futures contracts )... there apppears to be a flag-pole forming. Only time will tell if this holds up ..
…………….Please, don't give me credit for pointing out these lines ... I have learned them form studying the work of
Fibonacci Retracements and Elliott Waves ..... These lines work well only when they are tied to certain Elliott Wave
structures and certain Fibonacci Retracement levels ..... outside of this they become less reliable...... a whole lot less reliable .
This is exactly the reason why you could never back test a particular stock or commodity for these lines without these 2
basic theories of understanding. NOT ALL CHART PATTERNS ARE TRADEABLE .
(This depends on your trading strategy or trading style )
ALWAYS REMEMBER ….
What makes a market place is all of our diffrences of opinions .
------- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
It is far more difficult to Exit a trade than to Enter a trade .... I am sure that you have heard that said before ,,,
THIS IS WHY ,
When making trade it just as important to have an idea where you want to exit as it is to place a stop to protect yourself from a move against you .
( THIS IS A PEARL OF WISDOM )
THERE IS NO HOLY GRAIL ///// I KNOW THAT YOU KNOW THIS ....
THATS WHY I TRADE ELLIOTT WAVES , because its giving you a probability of where to look for a turn in a given market .....
The smaller the risk in relation to the price objective , the better chance of success in long haul .... (This is called Risk to Reward )
It’s just the way that is ...
Think of a Head and Shoulder pattern ... you learned of them long ago .... they always have a target based on the head and the neckline area ... This is not my design ... It was around long before all of us and will be around for some time after we are all gone.//
Please try to understand the price target in a head and shoulder set -up ... as an example , Because there are other patterns like symetrrical triangles and falling wedges and ascending triangles that also have price targets tied to them .... Traders have been measuring these price patterns for a long time ....
Surely ... they don't all make it to their targets or so called objectives , and I totaly agree with you , that they don't ..
But , it is the best premise there is to work on.....This is always explained and drawn out on charts ////
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
DTM
17th-July-2005, 09:40 AM
I'm bullish on the Aussie dollar although I can see it dropping in the next few days to a major support line before it heads back up. Long term wise it looks to go up.
Does anyone know the fundamentals for this?
Does it mean that interest rates are going to continue up? If yes, based on which assumptions?
Thanks in advance.
Daniel
RichKid
17th-July-2005, 07:12 PM
Does anyone know the fundamentals for this?
Does it mean that interest rates are going to continue up? If yes, based on which assumptions?
Thanks in advance.
Daniel
Good question Daniel, but if anyone is to reply could you please start a new thread on the Aussie dollar fundamentals so that this thread can stay clean for only TA please? It's easier to follow that way.
You can start the new thread in the International Markets forum. Just thought it'd be easier to track things. Also do a quick search to see if there is an existing thread on Aussie dollar AUD fundamentals first. Thanks!
MARKETWAVES
18th-July-2005, 03:39 AM
Autralian dollar … THE AUSTRALIAN DOLLAR
What a trade setup we have here standing before us ……
I have decided to take this down to the cellular level in an attempt further visually show what I believe is going on …
When I say cellular level I mean ,,, any chart formation under a daily chart …..
I have said repeatedly that trading is about buying support not break outs …
By the time a market breaks out , its too late … In fact , in my trading vocabulary the word break –out is an obsene word ,,, It's the same as a so called cuss word as we call it over here in the States .
There s is a lot of importance on Fibonacci Retracements to study and more importantly learn to watch for them …
Take a close look below ,,,,
I offer these 5 intraday charts to you DTM …. To give you more visual proof of the posture of the Australian Dollar ….
The main concern here is the 50 % level …… and the 618% level …. Any seasoned technitian knows that these are classic pull-back levels ,,,,,
Now these lines may not hold up in then coming days,,,,, it may break through these support lines …..
......... That’s not the concern here …..
Risk to Reward is the main concern …. Not money mangement ….
. Money mangerment is different than Risk to Reward … learn to separate these two and you will become a more confident trader ……
Always remember , that THE PROS…. are concerned with measuring the Risk vs the Reward .............
............................THE AMATEURE is concerned ABOUT BEING RIGHT all the time ...
MARKETWAVES
18th-July-2005, 04:45 AM
HERE ARE 3 LONG TERM VIEWS TO CONSIDER ......
DTM
18th-July-2005, 01:55 PM
Thanks again MW. Nice charts again. It gives the Aussie dollar picture more clarity, as I can see it more clearly with the short time frames.
Thanks again for the tip. I finally got it. :xyxthumbs
MARKETWAVES
19th-July-2005, 01:49 PM
HAs any one heard from DTM ?
DTM ARE YOU STILL THERE ?......... I sent you 2 messages in the private box yesterday about the AUSD FOREX ...
ALSO , did you find out about your friend ?
Well, let me know ......please
if you had a chance to read them ...
In the mean while ...........heres the result from yesterdays post ... support held up very nicely today as you can see ... prices literally blasted out of the base that was illustrated .. on the intra day charts above..
Look at what has happened since yesterday to the Australian Dollar ……
Again , this rally is standing straight up … What's the fundamental underlying cause ? UH? ….. I don’t know ? ….
Well , here's what I do know …
Every day there’s a battle between the Bulls and the Bears …( this is well known fact )
At the same time …. And more importantly
Theres a battle between Fundamentals and Technicals …...
Markets move on Technicals sometimes
or
Markets move on Fundamentals sometimes
What I am trying to say is that some moves are Technical by their nature and some moves are Fundamental by their nature ..
TAKE YOUR PIC ,,,,,,,,
…………….Please, don't give me credit for pointing out these lines ... I have learned them form studying the work of
Fibonacci Retracements and Elliott Waves ..... These lines work well only when they are tied to certain Elliott Wave
structures and certain Fibonacci Retracement levels ..... outside of this they become less reliable...... a whole lot less reliable .
This is exactly the reason why you could never back test a particular stock or commodity for these lines without these 2
basic theories of understanding. NOT ALL CHART PATTERNS ARE TRADEABLE . (This depends on your trading strategy or trading style )
This is where the understanding of Risk to Reward comes in ....
One must learn to separate the term RISK TO REWARD from the term
MONEY MANGEMENT ...though similar ,,,,, THEY ARE DIFFRENT TOPICS ONTO THEMSELVES...
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
MARKETWAVES
19th-July-2005, 02:10 PM
Has anyone heard from DTM ...............
DTM PLEASE READ the post above ,,,,,,,
ITS AN UPDATE to yestrdays post to help clarify ,,,, whats going on ...
DTM
19th-July-2005, 04:19 PM
Hi Market, thanks again. Nice structure to those waves. USD coming up to major resistance.
I didn't get your messages in my private message inbox if you would like to try again. I don't know what the problem was.
RichKid
19th-July-2005, 05:32 PM
Hi Market, thanks again. Nice structure to those waves. USD coming up to major resistance.
I didn't get your messages in my private message inbox if you would like to try again. I don't know what the problem was.
Hi MW,
Your pm inbox is full, please delete some old messages so I can contact you- I have been trying for two days.
Thanks!
MARKETWAVES
22nd-July-2005, 01:40 AM
DTM,.....
THE RESULTS ARE IN .....
NICE MOVE UP , HUH ?
REmeber that private message from Sun that I sent to you ?
It was about the AUSD breaking through 7490 ....
well here we are ,,,,, JUST 3 DAYS LATER
DTM
22nd-July-2005, 06:31 AM
DTM,.....
THE RESULTS ARE IN .....
NICE MOVE UP , HUH ?
REmeber that private message from Sun that I sent to you ?
It was about the AUSD breaking through 7490 ....
well here we are ,,,,, JUST 3 DAYS LATER
WOW!!! What a move. Look at that go!!! Nice work Market. Nice application of Fib retracement levels on a smaller time frame. I guess it really works well on all levels.
Market, didn't get that message, any chance you could send it again?
