AUDJPY

[Kauri]

still plodding along...

on the bigger grab a basic E/W move may be unfolding.. or unfolded..

Cheers
...........Kauri

stop in close... a ledge may be building.... interesting to see which way she breaks if it does build...

Cheers
..........Kauri

 

[BentRod]

I'm out at 73.20.

 

[Kauri]

stop in close... a ledge may be building.... interesting to see which way she breaks if it does build...

Cheers
..........Kauri

I'm out at 73.20.

got me too... now to see where we head from here..

Cheers
...........Kauri

 

[Kauri]

I never thought I would live to see the day... was considering a short out of the ledge?? with a possible 120 pip move down, but the RR wasn't there!!... the volatility and range has its drawbacks..

Cheers
..........Kauri

 

[Kauri]

watching... and waiting.... the coily may not unfold yet... it seems the relief rally in the yen carries may be done.. for now.... and the punters are now focusing on recession fears as opposed to the the financial collapse abyss that has ruled the markets recently... I thunk...

Cheers
..........Kauri

 

[Kauri]

mmmm... mayhaps bad US Data coming uo??
Cheers
..........Kauri

 

[Kauri]

mmmm... mayhaps bad US Data coming uo??
Cheers
..........Kauri

what looked like a coily has morphed into a ledge... in this position not really tradeable.. for me anyways...the other crosses seem to be of two minds as well.... so off to the scratcher for an early night..

Cheers
...........Kauri

 

[BentRod]

Just got home and missed all the action......

Wonder if we are going lower for another touch?(1H chart)
Doesn't look good for equities if that's the case.

 

[Kauri]

what looked like a coily has morphed into a ledge... in this position not really tradeable.. for me anyways...the other crosses seem to be of two minds as well.... so off to the scratcher for an early night..

Cheers
...........Kauri

found a suitable R/R entry via a little coily... life's hard..

Cheers
...........Kauri

 

[BentRod]

life's hard.

Sure is

Triggered at 67.76.

Maybe another one forming now?

 

[Kauri]

The volatility in the AUD/USD and AUD/JPY is beyond extreme. From
yesterday"s Skippy high to the low reached a few minutes ago the percentage loss was a staggering 8.25%. The AUDJPY seems to be the bellweather for fear currently.... all good if you are on the dark side ... mind you the thinness of the market makes tight stops suicidal.. I thunk

Cheers
..........Kauri

 

[Kauri]

just for a bit of perspective... the weekly chart of the AUDJPY.... possibly an impulsive move???

Cheers
..........Kauri

 

[Kauri]

There is talk that the "capitulation-like" sell off in the AUD/USD and AUD/JPY that started the moment the US market closed was initiated by forced AUD/JPY selling from a stressed hedge fund. It is quite amazing that the AUD/USD and AUD/JPY is approaching levels reached when investor risk-aversion was hitting "terrified" levels on Thursday/Friday when there were real fears of systemic collapse in the global banking sector. The actions by governments in the US and Europe on the weekend and early this week appeared to put that fear on the back burner.
Some analysts say that the resumption of the AUD selling against the USD and JPY is due to global recession fears replacing the banking sector Armageddon fears. It is hard to believe that this is the case, as prospects of a global slowdown have been priced into the asset markets for quite some time and was the main reason for the AUD/USD fall from 0.9850 to below 0.8000. It is more likely that the markets are still nervous that the Lehman Credit Default Swap settlement on Oct 22 from the auction held last Friday might result in a payment failure and the markets won"t function properly until that day passes. In the meantime hedge funds getting margin calls on equities frozen at Lehman will continue lead to sell offs in assets and currency pairings (such as AUD/JPY) to raise cash to meet margin calls.

Cheers
...........Kauri

 

[BentRod]

just for a bit of perspective... the weekly chart of the AUDJPY.... possibly an impulsive move???

Cheers
..........Kauri

An unbelievable chart.

Just amazing.

 

[BentRod]

Micro coily on 5m atm

 

[Kauri]

flags aren't my favourite pattern.... butt... who nose???

Cheers
............Kauri

 

[Kauri]

flags aren't my favourite pattern.... butt... who nose???

Cheers
............Kauri

one of the reasons I don't like flags... more often than not, for me, they morph into a coil... or ledge... or nothing..

Cheers
...........Kauri

 

[BentRod]

Yeah looks like a ledge.

I'm out at 65.30, will watch for a break.

 

[Kauri]

may we all live in interesting times
Cheers
.........Kauri

 

[Kauri]

my bias is still short... this definitively looks corrective against the impulse... but who nose... until after the event..

Cheers
..........Kauri