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AUD/USD

  • #19,881
  • Mar 25, 2010 8:35am Mar 25, 2010 8:35am
Quoting MarcVUM
long with S&P
long 0.9114 sl 0.9090 tp 0.9170
  • #19,882
  • Mar 25, 2010 8:38am Mar 25, 2010 8:38am
Quoting MarcVUM
scalped a couple pips up but she feels to be struggling...even though my BB's show a possible 914x at the moment. hmmm. better safe than sorry. in cash.
Yes, I am just keeping a small exposure open at the moment. Waiting till it settles down and show a clearer direction. Too choppy for my liking also at the moment although it looks like a bear flag waiting to be broken down.
  • #19,883
  • Mar 25, 2010 8:42am Mar 25, 2010 8:42am
Why confusing?
Since market open, price has been respecting an ascending parallel channel, and leaving good clues about what it's been doing (for example, all those tweezer bottoms).

Attached Image (click to enlarge)
Click to Enlarge Name: ozzy.gif Size: 33 KB


It is hard not to let our own (bearish) bias obscure the picture and the conflict arises mostly, IMO, from the fact that we WANT it to fall (as at some point it should) so we try to justify any possible downmove as "THE" move... while ignoring other clues.

Attached Image (click to enlarge)
Click to Enlarge Name: ozzy2.gif Size: 25 KB


Carry interest seems to weigh heavily still.
Wave 5 on daily hasn't developed fully yet.
0.9300 is not out of the question, IMO.
Should break 9050 and then 8960 to really consider a longer term shorting.
(9250 thereafter, if the price breaks the highs and comes back down).
  • #19,884
  • Mar 25, 2010 8:49am Mar 25, 2010 8:49am
Quoting doblece
Why confusing?
Since market open, price has been respecting an ascending parallel channel, and leaving good clues about what it's been doing (for example, all those tweezer bottoms).

Attachment

It is hard not to let our own (bearish) bias obscure the picture and the conflict arises mostly, IMO, from the fact that we WANT it to fall (as at some point it should) so we try to justify any possible downmove as "THE" move... while ignoring other clues.

Attachment

Carry interest seems to weigh heavily still.
Wave 5 on daily...
Well said. Yea, I am concerned that I am overly bearish. So just tempering it by reducing exposure since the patterns looks obvious and yet not breaking down as I anticipated as yet.

I am still bearing in mind the bigger picture of this being wave 4 on daily I admit wave 5 may start stealthily. However, sometimes, the good old fashion gut feel do prove correct and thats what I am following at the moment. That we will see nearer to 88xx before wave 5 starts.
  • #19,885
  • Mar 25, 2010 9:19am Mar 25, 2010 9:19am
Ha! I can make an argument bull or bear on this sucker right now!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,886
  • Mar 25, 2010 9:24am Mar 25, 2010 9:24am
I am giving up watching this. Putting a protective stop at 9140 and go do something else. Downside just leave it open for today. Will check in again just before NY close.

Good luck guys.
  • #19,887
  • Mar 25, 2010 9:28am Mar 25, 2010 9:28am
Quoting MarcVUM
Ha! I can make an argument bull or bear on this sucker right now!
Dollar is strengthening against other majors. This bearish divergence has to play out at some stage IMO.

Attached Image (click to enlarge)
Click to Enlarge Name: bounce2.gif Size: 21 KB


Am also seeing signs of Distribution.
  • #19,888
  • Mar 25, 2010 9:37am Mar 25, 2010 9:37am
Quoting ukdaytrader
Dollar is strengthening against other majors. This bearish divergence has to play out at some stage IMO.

Attachment

Am also seeing signs of Distribution.
nice chart there. i have a limit sell at 9140, which is the 200sma on the 30m
  • #19,889
  • Mar 25, 2010 9:46am Mar 25, 2010 9:46am
Im still for long from 0.9114 sl 0.9090 tp 0.9170
  • #19,890
  • Mar 25, 2010 10:08am Mar 25, 2010 10:08am
Quoting Colox
Im still for long from 0.9114 sl 0.9090 tp 0.9170

Not that I do or do not agree with you either which way... this is crazy day that the market is using to consolidate. I can make an argument using my charts for either which direction but my sense of logic is telling me bearish.

My initial target was for 9165... I will be making sure that some profits from my longs are locked in and that the rest is protected at B/E. I hope you do the same. Good Luck.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,891
  • Mar 25, 2010 10:16am Mar 25, 2010 10:16am
Dear market if you test my Patience

I Will not even Blink Till ..........
Attached Image
  • #19,892
  • Mar 25, 2010 10:55am Mar 25, 2010 10:55am
Whoa... finally broke the 9100 Bring on the 9060-70. That will make my day.
  • #19,893
  • Mar 25, 2010 10:59am Mar 25, 2010 10:59am
Oh, I fell asleep, what'd I miss? Seems we had a nice drop. I have us on 23.6 right now, if we go further, next significant price for me is 90771
  • #19,894
  • Mar 25, 2010 11:01am Mar 25, 2010 11:01am
Quoting Saxon
Oh, I fell asleep, what'd I miss? Seems we had a nice drop. I have us on 23.6 right now, if we go further, next significant price for me is 90771
I am lowering my stop to 9115. I was asleep also until my broker called me.
  • #19,895
  • Mar 25, 2010 11:03am Mar 25, 2010 11:03am
i'm deciding if i should get out now or let it ride lower.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,896
  • Mar 25, 2010 11:08am Mar 25, 2010 11:08am
wtf! she better go back down!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,897
  • Mar 25, 2010 11:08am Mar 25, 2010 11:08am
Quoting MarcVUM
i'm deciding if i should get out now or let it ride lower.
Depends On Your TF u use , MM (Review and decided )
  • #19,898
  • Mar 25, 2010 11:10am Mar 25, 2010 11:10am
Quoting MarcVUM
i'm deciding if i should get out now or let it ride lower.
My feel, will test lower again. I putting protective stops just in case I am wrong. Opportunities aplenty as mkt will always be there after we are long gone
  • #19,899
  • Mar 25, 2010 11:24am Mar 25, 2010 11:24am
Can we have a close at 9040s for a change ?
  • #19,900
  • Mar 25, 2010 11:31am Mar 25, 2010 11:31am
Quoting blurbear
Can we have a close at 9040s for a change ?
I wish
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