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-   -   AUDUSD Trading Pit (https://www.forexfactory.com/showthread.php?t=580106)

tashkent Mar 1, 2016 9:22am | Post# 161

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{quote} Yes, ageed mate. I took small pips on the shorts of AU and AJ but during this London session, my focus shifted to shorts of GU. Made a big mistake on DAX catching knives being thrown upwards, looking for the top but then got that back + more. Currently short on GU, EU and got an early long on DAX. I did have a short on AJ but I closed it. AU looks to go higher but AJ (looking at monthly) definitely down. However, the play could take weeks and may see AJ revisit the breakline of 8448. What gets me about AU is the DAILY upward squeeze movement...
AU just needs some time, buddy

closed the au long here for about 50 pipsAttachment 1869253
opened a short.Attachment 1869268
also short eu and gbp
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vlady1974 Mar 1, 2016 9:52am | Post# 162

{quote} AU just needs some time, buddy closed the au long here for about 50 pips{image} opened a short.{image} also short eu and gbp {image}
Similar trades except for AU.
I've taken a small long on Daily PP for AU.

Closed DAX for small minus, looking for lower pullback.
I noticed a correlation between DAX and AU... it goes in sync some days then falls out. Don't know what Fundy reason that could be.

Still short on EU and GU.

tashkent Mar 1, 2016 10:03am | Post# 163

{quote} Similar trades except for AU. I've taken a small long on Daily PP for AU. Closed DAX for small minus, looking for lower pullback. I noticed a correlation between DAX and AU... it goes in sync some days then falls out. Don't know what Fundy reason that could be. Still short on EU and GU.
i am thinking of adding to au short if goes up again. lets watch and see. hope you will squeeze some pips out of your au long

vlady1974 Mar 1, 2016 10:10am | Post# 164

{quote} i am thinking of adding to au short if goes up again. lets watch and see. hope you will squeeze some pips out of your au long
I want that 7180 as my tp... let's see

tashkent Mar 1, 2016 12:15pm | Post# 165

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{quote} I want that 7180 as my tp... let's see
excellent trade, mate. you almost got your tp.
i added s few shorts and will add more at higher levels
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iwillwait Mar 1, 2016 8:46pm | Post# 166

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so will that gap get filled?
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dab Mar 1, 2016 9:08pm | Post# 167

so will that gap get filled? {image}
Given RBA want 65c I'd say when not will would be the better question.

Aussi Mar 1, 2016 9:19pm | Post# 168

so will that gap get filled? {image}
yikes a 1min chart but a retrace on the cards

tashkent Mar 1, 2016 10:14pm | Post# 169

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indeed market is favoring the positive data a lot. gdp beats the forecast by 0.1% and we have 66 pip move.
market is just looking for an excuse to move up. probably 0.05% difference also would have the same effect.
this was discussed in this thread yesterday. now sellers have an opportunity to place their positions. buyers can hold some longs to see if last week's high will be taken out.
we have a pretty decent trendline formed as a support. this is something to watch.
i got into more shorts. let's see what is next.
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vlady1974 Mar 2, 2016 4:32am | Post# 170

{quote} excellent trade, mate. you almost got your tp. i added s few shorts and will add more at higher levels {image}
I decided to long into the news. Got some AU, AJ and AUDCAD pre news and then took them off at Frankie open.
Closed my UJ Longs and EU shorts so not a bad overnight.

Loading up now on DAX. Got burned on GBPUSD going below pivot, but I'm expecting that to keep going north for a short position between 1.41/1.42.
GBPAUD seems to support the positive sentiment on AUD, but I think AU pair is a bit trickier..... I think intra day within the week it will go south to build positions north. I wouldn't be surprised to see it at 7180. I can see some reasons for your Short Bias but at a Weekly tf at about 7400... I think my trading style would favour short term longs going into that range then seeing it close below 21 EMA at that tf before I short.

Blackopal Mar 2, 2016 5:30am | Post# 171

indeed market is favoring the positive data a lot. gdp beats the forecast by 0.1% and we have 66 pip move. market is just looking for an excuse to move up. probably 0.05% difference also would have the same effect. this was discussed in this thread yesterday. now sellers have an opportunity to place their positions. buyers can hold some longs to see if last week's high will be taken out. we have a pretty decent trendline formed as a support. this is something to watch. i got into more shorts. let's see what is next. {image}
Deja vu, AU has hit highs at these levels three times previously in the last 30 days., starting 4th Feb. Within 1 to 2 days after hitting those heights, the pair dropped, in

consecutive order, to 70.60; 71.46; and last time 71.18. I'm short from 72.37 this time. Also, the yen is offering good prices today. Short from 82.58. The need to work

at real job is stuffing up my chances to get best prices. Will probably have to lock in some sells in advance too. Damn, I envy you guys that get to do this all the time.

iwillwait Mar 2, 2016 6:00am | Post# 172

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got a few shorts on the table
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Blackopal Mar 2, 2016 6:10am | Post# 173

AUD/JPY has been in sideways channel ranging consistently from 80 to 82 yen for a month. On the 4HR chart it has a regular wave up and down, but today has move out

higher because USD is higher against YEN for now. I see it as a good chance to get a little bonus as AUD retraces maybe back towards 80

cold chisel Mar 2, 2016 6:51am | Post# 174

{quote} Deja vu, AU has hit highs at these levels three times previously in the last 30 days., starting 4th Feb. Within 1 to 2 days after hitting those heights, the pair dropped, in consecutive order, to 70.60; 71.46; and last time 71.18. I'm short from 72.37 this time. Also, the yen is offering good prices today. Short from 82.58. The need to work at real job is stuffing up my chances to get best prices. Will probably have to lock in some sells in advance too. Damn, I envy you guys that get to do this all the time.
There is a way to do this full time. Quit your job.
Interesting that you call something else a REAL JOB and this is nothing, just a walk in the park?

Blackopal Mar 2, 2016 7:27am | Post# 175

{quote} There is a way to do this full time. Quit your job. Interesting that you call something else a REAL JOB and this is nothing, just a walk in the park?

LOL cold chisel I would never demean the effort and experience required to succeed in this endeavor by calling it a walk in the park. But I enjoy this much more than my "real job", which is depressing and requires me to work and sleep away from home, but it pays the bills. Quitting my job is a very appealing idea, and one which I think about every day. But for me, at this stage anyway, I would have no certainty of generating an income which would cover my living expenses by trading forex. It is something I hope to be able to achieve, though, and I spend many hours studying.

FXClarity Mar 2, 2016 7:39am | Post# 176

It's quite possible to do both...at least until your account is at a level to support you full time or if you become a signal provider or manager of other people's money.

Have you considered merely moving out to 4 hour / daily / weekly time frames for chart analysis and execution?

Simply set up your templates and alerts and have the trading app downloaded to your phone / tablet whilst away from your 'workstation'. It will allow to to grow your account without the need to withdraw - whilst maintaining the security of your 'day job'

tashkent Mar 2, 2016 8:03am | Post# 177

Agree, FC,
one does not have to be in front of pc all day long to successfully trade fx. position trading or at least swing trading on larger tfs would suit part time traders and can maintain at least to cover some living expenses.

Blackopal Mar 2, 2016 8:08am | Post# 178

It's quite possible to do both...at least until your account is at a level to support you full time or if you become a signal provider or manager of other people's money. Have you considered merely moving out to 4 hour / daily / weekly time frames for chart analysis and execution? Simply set up your templates and alerts and have the trading app downloaded to your phone / tablet whilst away from your 'workstation'. It will allow to to grow your account without the need to withdraw - whilst maintaining the security of your 'day job'
I'm afraid that strategy won't work for me FX. I work on a mine site doing 12 and a half hour shifts, and no personal electronic devices, including mobile phones, are allowed on site. It makes trading a bit difficult. It sucks when you've got trades on and can't monitor them.

Blackopal Mar 2, 2016 8:19am | Post# 179

AUD/JPY just did a 5 minute spike to new daily high then dropped back now running up again. I wish the bastards would quit playing with my money. Looks like AUD not ready to give up the fight yet

tashkent Mar 2, 2016 8:22am | Post# 180

{quote} I decided to long into the news. Got some AU, AJ and AUDCAD pre news and then took them off at Frankie open. Closed my UJ Longs and EU shorts so not a bad overnight. Loading up now on DAX. Got burned on GBPUSD going below pivot, but I'm expecting that to keep going north for a short position between 1.41/1.42. GBPAUD seems to support the positive sentiment on AUD, but I think AU pair is a bit trickier..... I think intra day within the week it will go south to build positions north. I wouldn't be surprised to see it at 7180. I can see some...
indeed, trading au has been little tricky. i tried to position myself for longer term (more from short side) but price keeps coming back with no clear direction. now for some time we are in a range between 7100 and 7260. swing trading would have been much profitable just shorting highs and buying lows and do not know when we will break the range. i hope that will happen this week. for now we are still in a mid term bullish leg.


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