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EUR/AUD has reached a point of likely retracement in the mid 6620's to mid 50'sand although the larger trend up seems established there should be some retracement soon probably 40-50 pips or more, enough to get stops at 0 hopefully because I'm in at 6627 selling. If it retraces a lot, buying on dips with larger trend up will be worth attempting at some point.

I'm watching the USD/CAD to reach a point where it could safely be shorted for an attempt at a daytrade cenario. Commodity prices seem to be basically holding well, oil in particular.
 
Took partial exit of E/A at 6596 and will be stopped on the remaining at -10 pips if it goes higher. Might close sooner, perhaps 0 stop. I'm reluctant to re-enter if stopped because larger trend is up and the next target is probably about 6655-60 heading up. The pair may retrace further in which case an exit for remaining position will be at about 6580 and a buypoint will be sought but not unless it drops to 6555-60.
 
I missed the USD/CAD sellpoint at about 0060 but caught it for a few pips bouncing off 0005. It may be a good sell with downtrend if it moves back up above 0025 but that is less ideal than the missed 0060 sellpoint. Currently doing an ABC up, small scale from 0005 and at 0015 currently

Also, note that the AUD/USD is nearing a bouncepoint down at about 9400 if it gets there, currently 9376. It's rise from 9300 was rapid and helped push the EUR/AUD down which I'm completely out of now, waiting to buy E/A... or sell AUD/USD. Soon but not quite yet. Elliot pattern on minute charts for EUR/AUD show more down to go possible at 6550 and we want to be most sure.
 
Quote from FXAnalyst:

I missed the USD/CAD sellpoint at about 0060 but caught it for a few pips bouncing off 0005. It may be a good sell with downtrend if it moves back up above 0025 but that is less ideal than the missed 0060 sellpoint. Currently doing an ABC up, small scale from 0005 and at 0015 currently

Also, note that the AUD/USD is nearing a bouncepoint down at about 9400 if it gets there, currently 9376. It's rise from 9300 was rapid and helped push the EUR/AUD down which I'm completely out of now, waiting to buy E/A... or sell AUD/USD. Soon but not quite yet. Elliot pattern on minute charts for EUR/AUD show more down to go possible at 6550 and we want to be most sure.
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EUR/AUD did bounce up at 6550 about 40+ pips but wasn't the final uptrend resumption point. Now abouyt to bounce off 6500 area and could go up quite a bit. Worth another buy attempt for 100 pips or more I think.
 
Quote from FXAnalyst:

EUR/AUD did bounce up at 6550 about 40+ pips but wasn't the final uptrend resumption point. Now abouyt to bounce off 6500 area and could go up quite a bit. Worth another buy attempt for 100 pips or more I think.
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I waited and have pulled the trigger at 6474 EUR/AUD. AUD/USD is fairly high and nearing a stall area.

AUD/NZD has double topped and is quite high.

EUR/AUD nearly hit my stop which was below 6432, hoping for a large run up now, pattern is a bit extreme so there may be a truncated Elliot Wave at top which should have bounced at about 6550 and gone to about 6650... a failed wave in other words.
 
Stevens Says Central Bank Is Raising Rates to Curb Inflation, Avoid Errors The Reserve Bank of Australia's bid to cool the fastest inflation in 17 years by raising borrowing costs aims to avoid mistakes of the 1970s when annual consumer prices surged as much as 18 percent, Governor Glenn Stevens said.

That may explain the AUD/USD's fast runup over the last 24 hrs...
 
Canadian Dollar Close to Eight-Week High as Prices of Gold, Crude Oil Gain The Canadian dollar rose and traded near an eight-week high as prices of the nation's commodity exports increased.

USD/CAD seems to show a depreciating pattern that could target much lower than current 1.0006 price. Selling again if it hits 0025ish seems plausible at this point. Targeting 9900 is realistic.
 
Quote from FXAnalyst:

I waited and have pulled the trigger at 6474 EUR/AUD. AUD/USD is fairly high and nearing a stall area.

AUD/NZD has double topped and is quite high.

EUR/AUD nearly hit my stop which was below 6432, hoping for a large run up now, pattern is a bit extreme so there may be a truncated Elliot Wave at top which should have bounced at about 6550 and gone to about 6650... a failed wave in other words.
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Stopped by the EUR/AUD and re-entered at 6428 for swing attempt. I opened extra positions and scalped twice for 8 then 15 pips but will focus mainly on swing trade attempts in the journal not scalping generally.
 
AUD/NZD dropped as suspected, down 100 pips from when the double top was mentioned. Should have sold that instead of fighting the trend with the EUR/AUD. AUD/NZD dropped because N/U rose significantly probably due to expectations of positive news later.

AUD/USD did stall where expected and drop however it rises again and may breach 9425 so will look to sell it there or above. It may make 9450 so will need watching close and counting the minute elliot patterns for possible completion as target nears.
 
Quote from FXAnalyst:

Canadian Dollar Close to Eight-Week High as Prices of Gold, Crude Oil Gain The Canadian dollar rose and traded near an eight-week high as prices of the nation's commodity exports increased.

USD/CAD seems to show a depreciating pattern that could target much lower than current 1.0006 price. Selling again if it hits 0025ish seems plausible at this point. Targeting 9900 is realistic.
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So I'm trading the USD/CAD down from 0023 stops at 0 now and target is distant... 9925. Selling now is not as safe an entry given current price of 9994. I need to adhere to this... ideal entries give traders the ability to be wrong about targets and still take some profit or break even when targets are not met.
 
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