I agree - but there still could be another move down to knock out some more retailers first.

AUD/USD

I'm in the same boat. Looking for my spot. Patience...

Aussie Trading Room and Cartoons Gallery

Haha - I believe there is plenty to be had. Looking at USD Index hourly chart - appears to be a double top and now trending downwards. USD shot its wad...

Aussie Trading Room and Cartoons Gallery

Looks like I got out early, approaching the short term resistance at .969 though Thoughts??

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I jumped in late at .9645 and just got out at .9670. Looking to re-enter today

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Changing the way they calculate GDP for starters: url url

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USD can only stay propped up for so long. Its clear that the recovery is stumbling. They will try to manipulate numbers but can only go so far.

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Well, shit just got real huh.

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Ah damn. Thanks for the tip.

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Yeah I can hang on through a bit. I have a great trade on EURAUD that is holding my head above BE for the day. On AUDUSD I was ~10 pips away from my exit and just figured we'd get there, turned away for a minute and it fell off like a rock.

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Well damn. I'm still part of it... just the underwater part now.

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AUDUSD, spike up. I'm long from .9645 so I was in the green about 40 pips and didn't pull out.

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Anyone close on the peak of that spike?

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I mean what is HP?

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What does this mean?

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Seems like everyone is still asleep, I don't think we'll see much happen until London wakes up.

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Nice artwork DB! I am one of those underwater bulls, opened a small (long) position today. Looking to add to it tomorrow!

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I didn't mean to sound like I was making a point against you, just looking for further explanation that's all. I'm in the camp that says we get a slight retrace to ~0.99 and then further downslide, with a full reversal not happening until 0.95 or ...

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DaddyBear - what makes you think we need a double bottom on the weekly for a reversal? That hasn't been the case the last two times (2011, 2012).

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