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Attachments: AUD/USD
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AUD/USD

Took a Long position @ 0.88005.
That triangle just made me 1,760 USD and still going. KISS (Keep It Simple Stupid) is the best acronym ever.
Quoting yorygog
Took a Long position @ 0.88005.
ouch
Quoting yorygog
Took a Long position @ 0.88005.
ya man, what was the reasoning behind that?
Quoting yorygog
Took a Long position @ 0.88005.
same with me, but something make me confuse, the US news is bad, but the movement is in reverse, AUD/USD is going more down. what make this movement. do you guys have any idea about this?
but this is the 5th wave - how big it will be?
Attached Image
Quoting yeri
same with me, but something make me confuse, the US news is bad, but the movement is in reverse, AUD/USD is going more down. what make this movement. do you guys have any idea about this?
That's why I stated previously to stay out until after the news. You need to look at the news that was released at or near the same time:

  1. Nonfarm Prod = .2% better than expected
  2. Jobless = 25K worse

Looks like Nonfarm was more important to the market. Generally, when it comes to news, I stay out and place ordres around the consolidation. I showed a triangle earlier (before the news) that showed a perfect support and resistance. Place orders (pending) around the support and resistance. Since it was a decending triangle, the market is in a bearish mood, you should have placed larger orders on the downside than the upside. The market, as expected, plunged through the support. See below:

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8735 is very important PA, past this it will be very important which will open door to 8600 the 8500's before we see reconcile...
Quoting kilalik
8735 is very important PA, past this it will be very important which will open door to 8600 the 8500's before we see reconcile...
Good call, I didn't set my frames back far enough to see that. I Set orders around it. I would have totally missed that. Thanks Kilalik!
we will see 0.7800 in 2010
Quoting Saxon
Good call, I didn't set my frames back far enough to see that. I Set orders around it. I would have totally missed that. Thanks Kilalik!
you should short it now the gold is pulling AUD down better than EUR, plus we due for some data and speeches from US so far bad and good data for US turned into Strength... I don't know why, and i don't wanna dwell on it , just profit good luck

GOLD IS SINKING HARD in past hour and we another 15 min to go and it made a RED 20+ dollar leg
Another TP on this hit. cha ching, next level the most important 8735... this hits we gonna see big drop by the end of this week not gonna guess how low, but defenetly below 8700, unless NFP's are very bad
Quoting Saxon
ya man, what was the reasoning behind that?
1. The News. Thought it was a good entry point regardless of the news.

2. The AUD has shown tremendous resiliency here lately. It will fight it's way back up again.
Quoting yorygog
1. The News. Thought it was a good entry point regardless of the news.

2. The AUD has shown tremendous resiliency here lately. It will fight it's way back up again.
I wouldn't be so quick on long trigger not until we see 8735 be broken or not... so patience will be most wise choice
  • #15,455
  • Quote
  • Edited 10:30am Feb 4, 2010 10:04am | Edited 10:30am
I have 0.8733 as my do or die moment.
Quoting yorygog
I have 0.8733 as my do or die moment.

I might just exit and take the loss

May bee I will double my position and see what happens. That worked out well for me the last week; down over 100 PIPS twice and managed to get a fairly good profit out of it.

I changed my trading strategy at the beginning of the year. before I entered a position at 4 Lots. Now I enter with 2 Lots. It has worked out very well for my last month. More maneuvering room and less stress.
there will be bounce back up so you can take a smaller loss, if you stay patient, it's not gonna shoot down, well at least from my experience, i have taken bigger losses when I could of taken smaller...
NEVER DOUBLE, WORST THING TO DO MOST OF THE TIME, don't count the time you got lucky bro... take smaller loss instead of huge
manage to scalp some $ out of this drop


looks like its heading to its support of 8734.

oh gosh it just broke support......
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Quoting kilalik
.
NEVER DOUBLE, WORST THING TO DO MOST OF THE TIME,
I know.

Wether it is trading, gambling or whatever, it usualy works agains t you, but I have so much faith in the AUD/USD pair. I believe the AUD is in for another good run...again....might take a bit longer this time.

By the way...thanks for your reply and opinions, I appreciate it.

Cheers!
8710 doesn't want to give aaway to bears so we gonna retrace back a bit before another try to south, possibly buy stops with profit taking acitivity will push us up before initial drop
Quoting Petar_Serbia
Hello AUD traders,

I have one sell position acording my setup on AUDUSD now i am about 50 pips in profit but i will put SL +1 and waiting to see exit signal...I love this setup many times i took profits...






Cheers
Hello guys,

As i said very good setup and current 130 pips plus



Cheers and happy piping
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"Buy on fear, sell on greed !!!
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