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- Yuchen replied Aug 13, 2013
I see, then you should be fine if you have good money management with reasonable s/l, but do not be so greedy when you catch the bounce up during a bearish movement
- Yuchen replied Aug 13, 2013
If 1H chart close below 0.90918, you need to be careful for your long.
- Yuchen replied Aug 13, 2013
I had a pending short order at 97.15 last week, fortunately, it was expired yesterday before the rally up. I am thinking about to place another short order at 98.45 with s/l at 99.05. I drew the line connect the daily chart high and it seems 98.45 ...
- Yuchen replied Aug 13, 2013
I think AUD/USD will be range between 0.9040-0.9140 for the next a few hours and with strong incentive to break 0.9040 to continue go down. It shows a bearish trend for both 1H and 4H charts. Any shorts above 0.91 have s/l at 0.9245 would be a good ...
- Yuchen replied Aug 12, 2013
You could wait for it go back to test 0.9145 (if it can reach there) and send a small short order to test. I am currently having a pending order to sell it at 0.9145. Stop loss at 0.9245, tp at 0.8875
- Yuchen replied Aug 12, 2013
97.65 is the next price move for USD/JPY, and then we may see a small retrace back.
- Yuchen replied Aug 12, 2013
If 4H closed below 0.9127, AUD/USD will back to bearish in the short term, may goes to 0.9040 and 0.8980. Otherwise long are still survive. My 4H chart shows a strong indication that 0.9127 could be broken, we should be patient to see how market ...
- Yuchen replied Aug 9, 2013
I think it is because AUD already pre-digest the rate cut for this week so when it just cut 0.25% it bounced up. Also there is no trend could be down forever, it is always back and forth, so even it is a downtrend in large picture, it is normal to ...
- Yuchen replied Aug 8, 2013
I think 97.15 is a good area to try short, with s/l at 97.75. and look down to 93.75 area.
- Yuchen replied Aug 8, 2013
The RBA statement may lead AU back to 0.9041 area and then it should still back to test 0.9136 with a possibility to break it this time or early next week, and then test 0.9300 to finish this correction I guess. However, if 4H closed below 0.90104, ...
- Yuchen replied Aug 8, 2013
If this time it can goes to 0.9300 area, it might be a broken and goes to 0.9660. So you could wait for it test 0.9300 2-3 times and when you see it drop back to 0.92XX area with broken 4H uptrend, then you can start to short it, that would be safer ...
- Yuchen replied Aug 8, 2013
I send a limit sell order at 1.3410 with s/l at 1.3450. Let's see if 1.3440 area can stop this EU up move
- Yuchen replied Aug 8, 2013
I am still waiting for a back test for 0.9040 area and stop at 0.8980, tp 0.9280 if 4H still shows the uptrend in this short-term.
- Yuchen replied Aug 8, 2013
Unless the 1H chart close below 0.90633, I do not think Bull will stop and bear needs to be very careful, 0.91236 would be vital point to determine if this correction can continue up to 0.93XX.
- Yuchen replied Aug 7, 2013
This may caused by BOJ that they decide to do nothing after the meeting. I think there are more fresh buys are build around 0.9035-40 area now.
- Yuchen replied Aug 7, 2013
USD index is also on a downtrend correction. So very possible
- Yuchen replied Aug 7, 2013
Yes, you are right, there are some correlation between JPY and AUD..
- Yuchen replied Aug 7, 2013
I think it's possible. The trade balance=export - import, so it is also possible to have a negative number. China's economy looked ok but actually it is as bad as China's national soccer team....
- Yuchen replied Aug 7, 2013
Yes, I agree with you, let's see how far it can go for this correction.
- Yuchen replied Aug 7, 2013
No, I think the real reason for the negative spike is because 0.9035 was former support and it became a weak resistance now, so it may need several times to try to break it, and some traders decide to close their long before the data released. The ...