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Aussie Pairs

  • #1,381
  • Nov 9, 2007 10:20am Nov 9, 2007 10:20am
Yep, and like I posted earlier we still have around 14/1600 pips to go to reach the august lows.
Patience + Humility + Study = Success
  • #1,382
  • Nov 9, 2007 10:21am Nov 9, 2007 10:21am
KGB,

You see a test of the lows before close today or do you think it happens next week? I just don't see any bounce here.
Patience + Humility + Study = Success
  • #1,383
  • Nov 9, 2007 10:27am Nov 9, 2007 10:27am
Quoting DutchTrader
KGB,

You see a test of the lows before close today or do you think it happens next week? I just don't see any bounce here.
Well I'll say this, I thought yesterday's late day bounce in US equities was the weakest I've seen recently. Either the PPT is running out of ammo to prop this thing up, or bounce buyers are getting wise to the fact that the story is a little different this time around. Who wants to hold a carry long position going into the weekend? Certainly not me. We'll probably still get the 2pm push like we do *each and every time*, but I'm not holding any weekend longs.
  • #1,384
  • Nov 9, 2007 10:30am Nov 9, 2007 10:30am
Quoting Trader KGB
Well I'll say this, I thought yesterday's late day bounce in US equities was the weakest I've seen recently. Either the PPT is running out of ammo to prop this thing up, or bounce buyers are getting wise to the fact that the story is a little different this time around. Who wants to hold a carry long position going into the weekend? Certainly not me. We'll probably still get the 2pm push like we do *each and every time*, but I'm not holding any weekend longs.
Yep, classic dead cat bounce imvho. I see a test of the 100 before close and then next week towards 88 or whatever. Aud fundies are excellent so this pairs recovery will be quicker, the GJ though on the other hand was a fraud at those high levels should be interesting next week.
Patience + Humility + Study = Success
  • #1,385
  • Nov 9, 2007 10:35am Nov 9, 2007 10:35am
KGB,

The bounce came earlier, man the DJIA will sink next week
Patience + Humility + Study = Success
  • #1,386
  • Nov 9, 2007 11:13am Nov 9, 2007 11:13am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
500pips down from when my charts said short. never mind thats 500pips on the way back up. mind you i still can't see the bottom.

next targets

AU 9020
AJ 99.33

well unless someone has any better ideas, i'm gonna have a beer and kick myself in the arse.

no changed my mind, still have the beer and pat me self on the back for sticking to my trading plan.
  • #1,387
  • Nov 9, 2007 11:18am Nov 9, 2007 11:18am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
KGB,

The bounce came earlier, man the DJIA will sink next week

you got any trades open on this?
  • #1,388
  • Nov 9, 2007 11:46am Nov 9, 2007 11:46am
Quoting MPP
you got any trades open on this?
I'm flat, took a couple of pips off GJ which isn't really my pair. Waiting for the fake bounce/rally for the end of the week. BTW what indicators do you use?
Patience + Humility + Study = Success
  • #1,389
  • Nov 9, 2007 11:48am Nov 9, 2007 11:48am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
I'm flat, took a couple of pips off GJ which isn't really my pair. Waiting for the fake bounce/rally for the end of the week. BTW what indicators do you use?
so you plan to go short then of the top of the bounce?
  • #1,390
  • Nov 9, 2007 11:49am Nov 9, 2007 11:49am
Quoting MPP
so you plan to go short then of the top of the bounce?
Yep, as I was saying earlier we have at least 1000 pips to go on AJ before we reach the august lows.
Patience + Humility + Study = Success
  • #1,391
  • Nov 9, 2007 11:53am Nov 9, 2007 11:53am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
Yep, as I was saying earlier we have at least 1000 pips to go on AJ before we reach the august lows.
i think the bounce will be like 150pips(daily 5sma) before the down, the supporting TL for me is around 93.50. not sure it will get there though, i'm out till monday.
  • #1,392
  • Nov 9, 2007 1:43pm Nov 9, 2007 1:43pm
The late day push, there they go. Trying to bring it back to breakeven just like yesterday..
  • #1,393
  • Nov 9, 2007 1:57pm Nov 9, 2007 1:57pm
I just closed my short on AJ from 107, Looking to go short again at 103.50. Hows that price look to you guys??
Jeff
Quoting DutchTrader
Yep, as I was saying earlier we have at least 1000 pips to go on AJ before we reach the august lows.
  • #1,394
  • Nov 9, 2007 2:30pm Nov 9, 2007 2:30pm
Quoting Trader KGB
The late day push, there they go. Trying to bring it back to breakeven just like yesterday..
They will, and Asia and London will sell off. Like I said I don't even bother with New York, except for monitoring purposes.
Patience + Humility + Study = Success
  • #1,395
  • Nov 9, 2007 2:54pm Nov 9, 2007 2:54pm
Quoting DutchTrader
They will, and Asia and London will sell off. Like I said I don't even bother with New York, except for monitoring purposes.
Looks like they couldn't hold it together.. Dow heading back into the lows of the day towards the close, that's not a good sign..
  • #1,396
  • Nov 9, 2007 2:57pm Nov 9, 2007 2:57pm
Quoting Trader KGB
Looks like they couldn't hold it together.. Dow heading back into the lows of the day towards the close, that's not a good sign..
They're dead, they broke through the 13100 mark. I'm expecting some bounces on the Jpy crosses and whatnot but I'll be looking to sell any rally. We could arguably retrace all the way back to the 100% fibo off this move and then do it all over again. your thoughts?
Patience + Humility + Study = Success
  • #1,397
  • Nov 9, 2007 3:14pm Nov 9, 2007 3:14pm
Quoting DutchTrader
They're dead, they broke through the 13100 mark. I'm expecting some bounces on the Jpy crosses and whatnot but I'll be looking to sell any rally. We could arguably retrace all the way back to the 100% fibo off this move and then do it all over again. your thoughts?
I missed my window at the 61.8 fib on AJ (99.37) and the 50 fib on NU (7370) back on 10/22.. I'd like to be a buyer this time when those levels are hit, but similar to what you're saying, major technicals were broken and UJ is in sub-August uncharted territory.. I'll still be keeping my eyes on those levels come Sun/Mon. Have a good weekend.
  • #1,398
  • Nov 9, 2007 3:15pm Nov 9, 2007 3:15pm
Quoting Trader KGB
I missed my window at the 61.8 fib on AJ (99.37) and the 50 fib on NU (7370) back on 10/22.. I'd like to be a buyer this time when those levels are hit, but similar to what you're saying, major technicals were broken and UJ is in sub-August uncharted territory.. I'll still be keeping my eyes on those levels come Sun/Mon. Have a good weekend.
Agreed, see you on Sun/Mon. Have a great weekend
Patience + Humility + Study = Success
  • #1,399
  • Nov 11, 2007 1:35pm Nov 11, 2007 1:35pm
Wow. xe.com has AU at 9047, what was the Friday close? That's a helluva gap imvho.
Patience + Humility + Study = Success
  • #1,400
  • Nov 11, 2007 1:52pm Nov 11, 2007 1:52pm
Quoting DutchTrader
Wow. xe.com has AU at 9047, what was the Friday close? That's a helluva gap imvho.
Bloomberg shows 9115 as the close on Friday, and Oanda confirms the selloff gap, 75 pips! Going to be an interesting Asian session.. AJ at 99.70 or so.
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