Need some help in reading graph plz! XD

[lulu2199]

Hello everyone,

I need some help to read the chart of AUD/USD, from Jan 21 to Jan 23.
I need to see the signal saying that the trend is going soon to go down. There are alot of pin bar-ish looking bars, but I can't tell exactly the real pin bar there... Maybe there is one. Also, things like engulfing, etc I couldn't see a lot of them.

I am only asking if there is a evident sign, and what is it.

Thanks in advance!

Lulu2199

 

[hayseed]

cpi

perhaps that move had more to do with technical resistance and fundamentals than pin bars....

early in the week the audusd rose when traders expected a higher cpi.... when the cpi came out low, the possibilty of rate hikes diminished.... so did the aussie d.....

from a technical standpoint, look how many times the 1.058 to 1.06 area has turned it back over the last 7 months..... about a dozen times.....

technical resistance combined with worsening fundamentals tends to be a negative.....h

 

[Enivid]

Attaching a screenshot would really help.

 

[hayseed]

technical resistance and weak cpi

in the aussie d chart below, price has been between my orders 28 times only to fall back..... when the weak cpi came out with so many being long, fears set in......

roughly the same could be said for the gbpusd......

at major daily resistance levels, the real market moving players need some sort of true incentive to break the resistance and keep it broke....

top of the chart pin bars are quite often created with the help of a short squezze..... audusd shorts are rare.... large specs are long......h

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http://www.dailymarkets.com/commitment-of-traders/
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http://www.efxnews.com/story/16849/nomura-buys-15-million-audusd-targeting-11081-risking-10300
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http://www.fxstreet.com/fundamental/market-view/how-to-trade-events/2013/01/22/
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http://forexblog.oanda.com/20130122/aud-usd-softer-cpi-prepares-bears-for-larger-drop/

 

[hayseed]

words

when the weak cpi came out with so many being long, fears set in......

on second thought 'fears' was probably a poor choice in words.... 'realization' would have been better..... fear is likely rare in the professional ranks...... my appoligies.......

and just so everyone knows, the weak cpi hurt my euraud trades and my accounts.... or did it?.....h

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