Analysis on the chart ;)
Comment: When I wrote resistance on the chart, I mean Support - DUH
Comment: People asked me if its still valid to enter. Im still on the position but looks pretty bad now, be way of buying this now. :)
Comment: Same comment from my AUDUSD short trade: RBA rate and Statement decision in few hours, likely to hold but if be dovish ir can hurt AUD a lot.
Comment: rate hold. easing if needed. more information: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=b038e775-0bdf-4a65-b165-18f2ff697ebf
Comment: Looks like we are going to make it, first targets around 1.60, good luck :)
Trade closed: target reached: Already took profit :) very good trade
Comment: Now you can check my trades online on myfxbook monitoring have a look: http://www.myfxbook.com/members/PietHein/piet-hein-trading-view/1519873
Agree with your analysis mate, very good! AUDUSD really looks ready to fall, if not now, next week for sure on my view. But also one good thing to note is that (in my view) kiwi will depreciate much more than aussie next days/weeks, so eurnzd and nzdusd also could be good call to go respectively long and short.
Nice analysis mate, thanks for share. All analysis are welcome :) I prefer go long because to me seems that this channel and the support are holding. Also AUD looks good to sell against USD, and on my view EUR is stronger than USD this week, so, EUR x AUD would be even better. But also NZD looks weaker than AUD, so even better would be EURNZD long. But for now I will stick to this one.
I completely understand... My comments were hinting about how to determine market buying or selling based on the bars. Yes, everyone knows candlesticks, I'm not referring to that. I'm referring to "seeing' order flow. I'll give an example... Very often at the end of the trend markets will have it's strongest impulsive wave (i.e. Elliott Wavers will call it a W5). It's the wave that tends to be parabolic. At the end of that wave structure, about 60% of the time or more if you are observant you will notice something I call a "climax bar". I define it as a very large bar that appears at the end or very close to the end of the structure. So if you recognize that you are in that wave structure then you know what to look before before reversing positions. One thing about the bar is that it will always be the largest bar of that wave. This is only one observation about what markets do at a top or bottom... there are many many others as it relates to just the bars themselves and how they must form. My point is... the type bar, what direction, where does it test, where does it not test, what's the volume on the bar, did it close above previous support/resistance? Etc..etc..etc.. There is far more you can research about what buying and selling looks like. I just wanted to hint at that for people who want to research and discover this for themselves.
It's funny you posted the head & shoulders... I was just about to comment on that. But I think it's more likely to break the high of the right shoulder before going lower. I'll be looking to buy at 1.5195 since I think that scenario is most likely. If it breaks that price level with a big bar then I'll be a seller. If it does reverse there however and it breaks the right shoulder then I'll be a heavy seller. From 1.5690 I would target 1.5. That's my trade plan for the EURAUD anyway.