Short aud/cad 0.9632.
I'm looking for about 60 pips on this scalp. I actually switched out of the usd/cad short with -2 pips to this pair, as the resistance looks a bit better.
Short aud/cad 0.9632.
I'm looking for about 60 pips on this scalp. I actually switched out of the usd/cad short with -2 pips to this pair, as the resistance looks a bit better.
Ignored
I too like this trade better than the short usdcad... cad is getting beaten up by oil today.
Short aud/cad 0.9632.
I'm looking for about 60 pips on this scalp. I actually switched out of the usd/cad short with -2 pips to this pair, as the resistance looks a bit better.
Ignored
questions on this trade:
1. Wouldn't it then also make sense fo short AUD/USD?
2. What happens if RBA decides to leave rates unchanged tomorrow? Wouldn't the AUD rally?
1. Wouldn't it then also make sense fo short AUD/USD?
2. What happens if RBA decides to leave rates unchanged tomorrow? Wouldn't the AUD rally?
TIA
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I thought it was consensus that RBA will leave the rates unchanged tomorrow. Don't think that will be a surprise although that doesn't mean AUDUSD won't rally or get sold off again.
Consensus is rates will be left unchanged. I believe that's what they said before the NZ folks cut their rates as well
If rates do remain the same it will be the announcment and anything hawkish or doveish in its tone that will push this pair around. Should be plenty exciting
I thought it was consensus that RBA will leave the rates unchanged tomorrow. Don't think that will be a surprise although that doesn't mean AUDUSD won't rally or get sold off again.
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the RBA will leave rates the way they are tomorrow, but a rate cut is coming and they will hint at this, i see 9000 as the next stop for aus/usd
oil is falling = good for usd
gold is falling = bad for aus
I thought it was consensus that RBA will leave the rates unchanged tomorrow. Don't think that will be a surprise although that doesn't mean AUDUSD won't rally or get sold off again.
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There is a chance they will cut. The Aussie numbers have been bad lately...
1. Wouldn't it then also make sense fo short AUD/USD?
2. What happens if RBA decides to leave rates unchanged tomorrow? Wouldn't the AUD rally?
TIA
Ignored
I went short aud/cad because loonie seems to have hit some resistance, but I feel more confident with aud/cad short coz loonie has tested that resistance a few times.
I agree with some of the comments on aud/usd. I'm not feeling too confident about my aud/usd Long.... I just reduced the position by a quarter. My stop is there to protect me if it plunges.
The market behaves illogicaly a lot of times. I would not be suprised if aud/usd rallied or plunged after rate announcement. If there's no rate hike and it rallies, then the talking heads will say the news were "priced in"... classic "buy on the rumor, sell on the news".
My feeling is the big boys usually have a very good idea of what's gonna happen and have acted accordingly waaay before any announcements.
i have been passing the time scalping the range on gbp/jpy on the 1h chart, you will see a nice sideways channel, about a 75 point range. no news is good news for this pair.
Forgive the simplicty of these questions. I hope no one assumes that it is a question of laziness on my part, it is more a desire to fully understand the method and terminology used.
"Point B: Price exceeds the level by more than a comfortable amount (we’re looking for it to hit it exactly and reverse). Additionally, we have an up close on the 1hr bar that is almost right on top of the level. We close our new short position with only a couple pips of profit. Price exceeds the level, and then uses it as support. We open a long right on the level when we see this."
Could you please clarify which candle is the "up close on the 1 hour bar".
Could you also tell me when you went short to obtain a couple of pip profit.
Am I correct in assuming that candle "d" is the first sign that the level is becoming support and the point at which you would go long?
If there is a better way for me to ask these basic questions without disturbing the thread then I am open to suggestions.
Thanks,
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Hi faq, you would have gone short right at 107.16, and with the ugly upclose would have wanted to protect the position as it was strongly in favor of moving upwards. When 107.16 was broken, you can see that it was then being used as support, at which point you would have wanted to go long.
That's okay and dont worry about the questions....if I dont get to them right away just keep in mind Im trading throughout the day here and will get around to answering asap....I delayed this one a little bit just because I wasnt sure what you were asking at first. Thanks again,
Just reduced my aud/usd Long to half of original position....Don't want to blow today's profits on one trade. If this trade blows, there will be plenty of opportunity to trade it again at 0.9000 and 0.9500 and even right here at 0.9300 if there's a major plunge or bounce.
It blew past good support twice last couple weeks. Let's see if this one holds... if not then wait for it at 0.9000 and short on any bounces.
I'm marking 108.60 as the most probable level of reversal, though price could go only as far as 108.40 before turnign around. Regardless, 108.60 is the most ideal area as price has the potential to go even slightly higher than that (109.00 is max). Agiain, entry within a 10 pip range around the prices listed.
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Alright...I think I think I think I might finally catch up with these trades here......
First the good news on this trade....we had a high of 108.38, within the 10 pip range of the lower level. I'm tracking it at 108.35, the lower portion of the 10 pip range as per our rules, for +106 pips so far.
Looking at these levels they should still be relatively good. Just watch out with all the FOMC talks going on tomorrow, listen in and dont trade it unless there's good conviction to do so. But this one is banked so far - moving right along.
