Forum Posts by : frankbrit (Forum Member)

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 5, 2010 18:52

In Thread: Aussie Dressed up but where to Go?

@ said. You're welcome. There's definitely something to EW and Fibs but I do think that there's also a risk that one can overcomplicate things creating a lot of noise and fog away from the simple realities of trendline breaks, etc. Bon w/e.

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 5, 2010 16:40

In Thread: Aussie Dressed up but where to Go?

@ said. Following link -http://www.fxstreet.com/rates-charts/charts-panel/

There are probably others too.

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 5, 2010 16:27

In Thread: Aussie Dressed up but where to Go?

@ Tarun. Zoom out on to the weeklies to get some perspective on just how oversold things can get.

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 5, 2010 16:14

In Thread: Aussie Dressed up but where to Go?

@ said. There are charts out there with 30 years. But as I said, I think one must take EW with a pinch of salt - sometimes it seems clear other times it seems subjective - one has to be careful not to see what isn't there. It's dangerous to extrapolate too far but it can be useful for getting a feel structure. I think USD/JPY (less volatile) has a fairly clear structure but others are sometimes rather difficult to see - at least to me. I think AUD/JPY is a trickier one - perhaps because of the volatility.

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 3, 2010 15:32

In Thread: Aussie Dressed up but where to Go?

@ said. I agree with your view. I have a small dummy trade going long from 80.50 - so no skin in the game (just using it to keep me sharp for cash movement). Let's see ...

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 3, 2010 13:38

In Thread: Aussie Dressed up but where to Go?

@ said - AUD/JPY challenging the daily trend line from the c.86 high now ... Wouldn't want to bet against the AUD just yet. I agree, at 2.00 pm ECT yesterday a break eithere way looked possible bit the spike low to 79.10 showed an exhaustion gap on 8 hr chart and now the indicators are looking more positive (daily stochastics have turned). Subject to US trading plenty of room for AUD to strengthen yet to 81-82 range. Big tests now and at 81.15. I want to go short but I am aware that no daily lower low has been shown for months ... Timing is tricky on this one.

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 2, 2010 13:16

In Thread: Aussie Dressed up but where to Go?

@ said. I'm thinking 25 Oct to 10 Jan top is a flat creating a double top and that the most recent downwave from 10 Jan is the first wave of the down move completing 5 waves at 79.10. Which is why I feel that the move since 79.10 is likely corrective and possibly still continuing to 81.30. However, though I take EW with a dose of salts in the rumble / tumble of reality - that's the only reading I can make from it just now. As usual, we'll have to wait and see.

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 2, 2010 11:36

In Thread: Aussie Dressed up but where to Go?

Noted @ said. So talking technicals are we in the third wave of a 3 wave correction in AUD/JPY from the recent 79.12 low - what do you think? Saw your comment on EUR/USD possible final target for EUR/USD (c. 1.25) any thoughts on the AUD/JPY possible final target?

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 2, 2010 11:13

In Thread: Aussie Dressed up but where to Go?

@ said. Noted your correction ref. AUD or JPY gain - but still interested to have your thoughts on my 3rd paragraph. Another one for you: is a 3 wave correction underway with AUD/JPY (i.e. now just beginning wave 3 on 4 hourly) - or is has the third downwave of the AUD/JPY already started?

FrankBrit

Frankfurt am Main, Germany

Posts: 73

14 years ago

Feb 2, 2010 10:53

In Thread: Aussie Dressed up but where to Go?

P.S. what's a good entry level on shorting AUD/JPY? I don't feel I've good a good handle on this pair ... it still hasn't made a daily low ... rather frustrating ... :-(

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