Comments on: AUD/USD session outlook: Eyeing the top of the weekly wedge https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/ The Professional Source Mon, 26 Nov 2012 06:37:22 +0000 hourly 1 By: Sean Lee https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/#comment-8387 Mon, 26 Nov 2012 06:37:22 +0000 http://fxww.dreamhosters.com/?p=3077#comment-8387 Cheers James, I’m still sorta hoping for that one last downside cleanout but I think I’m probably not the only one hoping for that so perhaps it doesn’t happen

]]> By: James https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/#comment-8376 Mon, 26 Nov 2012 05:54:05 +0000 http://fxww.dreamhosters.com/?p=3077#comment-8376 I like to watch and interpret markets in an ongoing auction process as pioneered and typified by that Chicago futures pit legend Peter Steidelmeyer’s Market Profile. On that basis, we have recently worked through a long term buying frenzy which settled the market in the middle of a long term distribution defined by the extremes around USD$1.10 to the upside and USD$0.95 to the downside, with the point of control at USD$1.0380. I was thinking that maybe the next auction would be on the downside, but that appears to be wrong as the move that has started from that region is higher. If this is the case, we are at the early stages of a new up move that will see the old high well and truly eclipsed as the auction plays out in the months ahead. The move higher should now be quite relentless if the view is correct, suggesting a buy dips market. But ICBW, just my latest thoughts.

Love your work Sean.

]]> By: Asad https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/#comment-8313 Mon, 26 Nov 2012 00:01:15 +0000 http://fxww.dreamhosters.com/?p=3077#comment-8313 Don’t worry, it’s just two great minds but not
two great “working” minds !!!!! 🙂

Hope mine start clicking like yours sometimes in future.

]]> By: Sean Lee https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/#comment-8308 Sun, 25 Nov 2012 23:27:06 +0000 http://fxww.dreamhosters.com/?p=3077#comment-8308 That’s a worry Asad 🙂 When two great minds like ours think alike it’s almost certain to do something different 🙂

]]> By: Asad https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/#comment-8307 Sun, 25 Nov 2012 23:24:32 +0000 http://fxww.dreamhosters.com/?p=3077#comment-8307 Good morning Sean and all, hope every one had a nice weekend and good luck for the week ahead.

Here are my 2 pips:

Elliot wave counts:

wave 1: 1.02870 -> 1.0420 / 30
wave 3: 1.03370 -> 1.0470 / 80

wave 1 = wave 3

so expecting wave 5 to extend to atleast 1.618% of wave 3 which could be
from 1.0420 -> 1.0630 / 50.

but before that, there is a missing wave 4 !!!!!!

current resistance levels pointing to 1.0480/500 for wave 4 (retracement )to start when RSI reaches 70+

Retail sell orders (Onada) piled up at 1.0480/500 as well.

moral of the story ?

Sean’s recommended range levels:

480/500 ->> 420/410

]]> By: Papillon https://fxww.com/audusd-session-outlook-eyeing-the-top-of-the-weekly-wedge/#comment-8284 Sun, 25 Nov 2012 22:09:35 +0000 http://fxww.dreamhosters.com/?p=3077#comment-8284 Hello Sean,

I hope, you had a great week-end. I have thought all the day with your advices. I’m going to sleep, just a quick look to market open. See you in about 7 hours 😉

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