Comments on: AUD/USD technicals: Fibo resistance at 1.0350

By: Sean Lee

Sean Lee — Wed, 17 Oct 2012 21:53:17 +0000

No strong view at moment Serga, think AUD short-covering might continue to slight preference for buy-dip in short-term

By: SergaNet

SergaNet — Wed, 17 Oct 2012 20:50:36 +0000

Good morning, Sean!
What your view of AUD/JPY? I think that approximately with flowing (can be from 82.46) to sell pair, stops to take out for 82.55, the sale purpose the repeated test 79.42 or about that. Thanks!

By: Sean Lee

Sean Lee — Wed, 17 Oct 2012 19:46:23 +0000

Hi Rahul, Fibonacci retracements are part of wave theory in mathematics. We need to look at which wave is dominant and base our retracements off that. In this case, I was looking at the most recent 5-wave downmove but now that this has broken, we can argue that we now should focus on the overall big wave which started at 10620. This is not an objective science, many people can read the waves in different ways++

By: Rahul

Rahul — Wed, 17 Oct 2012 11:45:04 +0000

hi sean could you please tell us something about which points you choose to take your fibos from?..now i had retracements on from the 1.0625 peak..never really considered the one you talked about

By: Papillon

Papillon — Wed, 17 Oct 2012 07:33:32 +0000

Sean,

Typing error from “October 17th orders/flows” –> ” large stops above 1.0340/40″ –>1.0340/50