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Aussie Pairs

  • #661
  • Aug 13, 2007 10:35am Aug 13, 2007 10:35am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
AJ, the AU looks to be consolidating above 8400
8400 is a 100sma and round number point, little bounce but IMHO it will break. still of the opinion this pair wants to get back into is uptrend channel so need to drop to around 8150 to complete the drop.

will buy around 8200 and follow it longer term to 8800 for this month and 8900 for next.

we live in hope

MPP
  • #662
  • Aug 13, 2007 10:38am Aug 13, 2007 10:38am
Quoting MPP
8400 is a 100sma and round number point, little bounce but IMHO it will break. still of the opinion this pair wants to get back into is uptrend channel so need to drop to around 8150 to complete the drop.

will buy around 8200 and follow it longer term to 8800 for this month and 8900 for next.

we live in hope

MPP
It just needs to correct deeper. The problem with the Aud is that the yield is so high that it gets snapped up on dip buys so it takes longer to reach bottom.
Patience + Humility + Study = Success
  • #663
  • Aug 13, 2007 10:53am Aug 13, 2007 10:53am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
It just needs to correct deeper. The problem with the Aud is that the yield is so high that it gets snapped up on dip buys so it takes longer to reach bottom.
yes quite agree, but be patient it will get there.

once there i will place a series of buy orders for the return journey, hope to start with 8200, 100pip SL trailed by 10, and add to it every 100 pips, after three trades theres no risk to you bank balance

buy 8200 +100pips
buy 8300 BE
Buy 8400 -100pips all trades breakeven if SL hit

will gain 1500 pips if TP at 8800

so as you can see I am trade slightly longer term on the AU.

staring to get to know the AJ so will be trading that shorter term along with Cable, although cable is giving me a headache.

happy trading.

p.s if your MM allows keep adding the buys 8500, 8600, 8700 tp 8800 for a total of 21000 pips
  • #664
  • Aug 13, 2007 10:56am Aug 13, 2007 10:56am
Quoting MPP
yes quite agree, but be patient it will get there.

once there i will place a series of buy orders for the return journey, hope to start with 8200, 100pip SL trailed by 10, and add to it every 100 pips, after three trades theres no risk to you bank balance

buy 8200 +100pips
buy 8300 BE
Buy 8400 -100pips all trades breakeven if SL hit

will gain 1500 pips if TP at 8800

so as you can see I am trade slightly longer term on the AU.

staring to get to know the AJ so will be trading that shorter term along with Cable, although cable is giving me a headache.

happy trading.

p.s if your MM allows keep adding the buys 8500, 8600, 8700 tp 8800 for a total of 21000 pips
Good idea, I'm developing my long term trading strategy so any pointers are appreciated. FYI what is your thought on the AJ? I still see a deeper correction there as well, towards 88.00, thoughts?
Patience + Humility + Study = Success
  • #665
  • Aug 13, 2007 11:07am Aug 13, 2007 11:07am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
Good idea, I'm developing my long term trading strategy so any pointers are appreciated. FYI what is your thought on the AJ? I still see a deeper correction there as well, towards 88.00, thoughts?
I'm looking at nearer 93.00, but have only just started looking at this pair recently, i find it takes me a little time to get the charts right. i normally redo them in different time frames 4h wk daily and monthly to see how it's playing out, only got to dailys.

will let you know if things change, it's also the reason why i use SL on three sets, protects my bank, but gives great returns for each lot added.

regards

MPP
  • #666
  • Aug 13, 2007 7:11pm Aug 13, 2007 7:11pm
Agree with the bullish sentiment expressed above regarding AUD ...however it shouldnt go below 8373 (imo)
Currently as I type it is 8390 having made a new low moments before at 8388..I have limit buys at 8378 & 8379 stop 8369.....Thanks for views.
As someone said ...it is almost painful for the AUD too descend more here (ie painfully slow) due to high high yield attractiveness of the pair ...this too is what will see it hits new highs once the low is in,...
( I filled portion at 8390...it lined up as shooting for the low in Monday trade ,,,which has just completed (GMT time). )
  • #667
  • Aug 13, 2007 10:15pm Aug 13, 2007 10:15pm
Quoting DutchTrader
Good idea, I'm developing my long term trading strategy so any pointers are appreciated. FYI what is your thought on the AJ? I still see a deeper correction there as well, towards 88.00, thoughts?
Fow what it is worth , I dont see 8800 in the near future, that should put the Aud/u at about 78 as they seem to parallel each other. I'm looking for a long at about 98.
If we aren't supposed to eat animals..... why are they made out of meat??
  • #668
  • Aug 14, 2007 12:51pm Aug 14, 2007 12:51pm
Aud almost at the 98 level, lets see what we can do here.
Patience + Humility + Study = Success
  • #669
  • Aug 14, 2007 1:57pm Aug 14, 2007 1:57pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
Aud almost at the 98 level, lets see what we can do here.
short AJ @ 100.00,

short AU @ 8430, got stopped out on my 8600 earlier and was gone for a few days so missed most of the drop still good pips now

looking for a chart fo gbp/aud, moving to Aus soon so want to get the best price if any one can help.

MPP
  • #670
  • Aug 14, 2007 2:12pm Aug 14, 2007 2:12pm
MPP,

Might see a retrace towards 100, and 8400 and then re-short. Data tonight. BTW How do you do a screen cap on windows? Im running windows on my apple lol
Patience + Humility + Study = Success
  • #671
  • Aug 14, 2007 2:14pm Aug 14, 2007 2:14pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
posted on DailyFX

19:10 GMT August 14 The AUD/USD opened in NY around 0.8395 after taking out the bids at 0.8400 overnight. Ongoing risk aversion helped keep pressure on the AUD in NY trading with the DJIA losing up to 200 pts at one stage as another fund halted redemptions and rumors of investment bank funding problems emerged. There were more problems with mortgage companies, this time Thornburg mortgage and talk of money market fund problems as well. This kept stocks under pressure along with leveraged carry trades. AUD/USD stops were triggered once 0.8360 gave way and AUD/USD eventually fell to 0.8345 lows. AUD bears note that the currency has broken the base of the Ichimoku cloud and is set to close below the cloud, with 0.8280 their next target for AUD.
Adding to pressure on AUD was a strong fall in base metals. The news that Sentinel halted redemptions apparently triggered CTA selling of base metals, which will weigh on Australian resource stocks tonight. AUD/JPY which opened at 99.30 is holding near 98.30 into the close. AUD/NZD was capped at 1.1500 during the NY session and retreated to 1.1465 into the afternoon. (Rs)
  • #672
  • Aug 14, 2007 2:18pm Aug 14, 2007 2:18pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
MPP,

Might see a retrace towards 100, and 8400 and then re-short. Data tonight. BTW How do you do a screen cap on windows? Im running windows on my apple lol
on my PC the print scrn button is near the F12, so hit print scrn, open paint and paste, select the area of image you want and save it to your desktop (easier to find) check the image is no wider than 700dpi.

i think thats how to do it, i use MT4 so can save the charts as an image.

regards

MPP
  • #673
  • Aug 14, 2007 2:24pm Aug 14, 2007 2:24pm
I'm on GFT forex and it's not working, let me see if I can get you a beta chart later on.
Patience + Humility + Study = Success
  • #674
  • Aug 14, 2007 2:49pm Aug 14, 2007 2:49pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
MPP,

Might see a retrace towards 100, and 8400 and then re-short. Data tonight. BTW How do you do a screen cap on windows? Im running windows on my apple lol

I'm looking to TP at 98.10 and then set some more shorts on the bounce, not sure if it will make 100.00 though
  • #675
  • Aug 14, 2007 2:52pm Aug 14, 2007 2:52pm
Quoting MPP
I'm looking to TP at 98.10 and then set some more shorts on the bounce, not sure if it will make 100.00 though
Nah won't make 100, anything above 99 is gravy I just meant towards 100 not necessarily hitting it.
Patience + Humility + Study = Success
  • #676
  • Aug 14, 2007 3:45pm Aug 14, 2007 3:45pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
Nah won't make 100, anything above 99 is gravy I just meant towards 100 not necessarily hitting it.
with you on that, hopefully a big gravy boat and some toad in the hole to put it on.
  • #677
  • Aug 14, 2007 3:49pm Aug 14, 2007 3:49pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
looking for a break of the 50% fib or TP and wait for the bounce? decision time! i know lets have a cup of tea.

Attached Image (click to enlarge)
Click to Enlarge Name: aj.gif Size: 18 KB
  • #678
  • Aug 14, 2007 5:29pm Aug 14, 2007 5:29pm
Quoting MPP
looking for a break of the 50% fib or TP and wait for the bounce? decision time! i know lets have a cup of tea.

Attachment
I'm looking for a slight bounce as 98 is a fibo region from the move up from 88.48 so we shall see
Patience + Humility + Study = Success
  • #679
  • Aug 14, 2007 5:35pm Aug 14, 2007 5:35pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
I'm looking for a slight bounce as 98 is a fibo region from the move up from 88.48 so we shall see
are you looking for a drop below and then a bounce upto and then down from the 50% fib, as by my charts we are 15pips below and i have a good 30m candle bearish complete and a 1h bearish complete below the fib.

I'm not that great with some of the finer details, so sometimes i miss good entry and exit points.
  • #680
  • Aug 14, 2007 5:44pm Aug 14, 2007 5:44pm
Quoting MPP
are you looking for a drop below and then a bounce upto and then down from the 50% fib, as by my charts we are 15pips below and i have a good 30m candle bearish complete and a 1h bearish complete below the fib.

I'm not that great with some of the finer details, so sometimes i miss good entry and exit points.
I'm looking at the daily chart, i have fibo at 98, then at 95, and finally at 92
Patience + Humility + Study = Success
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