Happy Corner: Aussie (AUD) pairs

[bobmaninc]

nice trade setup

[ForexMindGames]

I am learning to trade harmonic patterns. The harmonic patterns come with colorful names, such as butterfly, crab and bat patterns.

I like the simplest one of all, which goes by a simple name, the AB=CD pattern. In order to train my mind to see and recognize AB=CD patterns, i went searching for AB=CD patterns,. I looked for it everywhere. 10mins charts, 1hr charts, 4hr charts and daily charts. And i think i found the largest AB=CD you will probably ever see.

Here it is. The humongous 3000pips AB=CD pattern from AUDUSD daily chart!!

[NickB34]

This is a long that I set up yesterday, seems to be playing out so far but tell me what you think...

[bobmaninc]

looks like a nice swing trade setup there. Good luck

[ForexMindGames]

Guys, what do you think of my latest discovery? Pretty powerful order flow analysis for the AUDUSD, i believe. It may help us to fine-tune our entries to buy & sell aussie.

[buster48]

Guys, what do you think of my latest discovery? Pretty powerful order flow analysis for the AUDUSD, i believe. It may help us to fine-tune our entries to buy & sell aussie.

quite interesting this,have to see what its like on other pairs,thanks for the post.

[ForexMindGames]

quite interesting this,have to see what its like on other pairs,thanks for the post.

if you find any interesting stuffs on other pairs, let me know yah.

[ForexMindGames]

I present to you my latest findings on the order flow of AUDUSD. Remember that currencies are the lifelines of the global economy. People buy and sell currencies all the time. If i wanted to travel to London to watch the 2012 Olympics, i would change my local currency into British pounds. Which means i would buy GBP and sell SGD. Basic supply and demand.

We individuals do not have the power to move the currencies by 1 pip. So who does? It is the multinational companies such as IBM, Apple, BMW, Samsung and others. Central banks can manipulate their countries' currencies. But they do it infrequently, although when they do it, it causes huge spikes. Witness BOJ intervening to weaken the YEN in 2011. Look up the daily chart of USDJPY and find the obvious one day spikes. It is the handicraft of Japan's central bank. Hedge funds can and also shift currencies to a certain extent. But their main aim is speculation and to make profits.

The main factor in currency movement is this. Watch the order flow by the multinational corporations. Every month, whether it is the beginning or the end of each month, they buy and sell currencies. Why? Because they need to settle their monthly accounts. They need to hedge their positions. They need to repatriate their profits. They need to pay their suppliers. They need to collect payment from their customers. Every month, every quarter, every year end, they have to tabulate their profits and losses into their balance sheets. And a host of other reasons.

To illustrate my findings, see the AUDUSD chart. Now locate the places where price makes a major turn. The tops and bottoms are located mostly on the month-end or month-start. It is not a coincidence. It is order-flow.



I hope you understand the importance of order-flow now. Many traders talk on fundamental analysis (FA) and technical analysis (TA) when looking at the markets. I present to you the third analysis, order-flow analysis (OFA). Learn it well and you will become a more successful trader. Trading is a mind game.

[happypip]

Will the Aussie’s luck turn around at 1.0250? The minor psychological handle is not only near the 38.2% Fib on the daily chart, but it’s also a former support area. Ooh, and Stochastic is in the oversold region too! I can’t wait to see more reversal candles on this one!

[SimonTemplar]

Will the Aussie’s luck turn around at 1.0250? The minor psychological handle is not only near the 38.2% Fib on the daily chart, but it’s also a former support area. Ooh, and Stochastic is in the oversold region too! I can’t wait to see more reversal candles on this one!

I'm certainly watching the same level for the same reasons!

(Well, looking at RSI rather than Stochastic, but virtually the same reasons.)

ST