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Trading Aussie Jacko Style

  • #641
  • Feb 25, 2009 3:23am Feb 25, 2009 3:23am
A.U still in a 4hr channel, not worth trading. A.J and all yen pairs are currently sitting at the 100 day ema. (very strong resistance) If the Yen trend is truly reversing then it should break above this and the 200 day but with some volatility.
Just Trade It
  • #642
  • Feb 25, 2009 3:28am Feb 25, 2009 3:28am
Quoting Big Wave Rider
A.U still in a 4hr channel, not worth trading. A.J and all yen pairs are currently sitting at the 100 day ema. (very strong resistance) If the Yen trend is truly reversing then it should break above this and the 200 day but with some volatility.
trading channels both directions may also be a good way

/JPY crosses will likely keep moving higher
anyway I still notice some relative strenght in the AUD...it could benefit of new risk aversion more than other currencies
  • #643
  • Feb 25, 2009 3:32am Feb 25, 2009 3:32am
Quoting fammira
trading channels both directions may also be a good way

/JPY crosses will likely keep moving higher
anyway I still notice some relative strenght in the AUD...it could benefit of new risk aversion more than other currencies

It depends on demand for commodities, which won't pick up until infrastucture spending actually turns into infras. building.
Just Trade It
  • #644
  • Feb 25, 2009 3:41am Feb 25, 2009 3:41am
Quoting Big Wave Rider
It depends on demand for commodities, which won't pick up until infrastucture spending actually turns into infras. building.
that is right, but it seems that Australian economy is keeping up better compared to other countries, that means that central bank will likely avoid the 0 or close to 0 interest rate policy

moreover, China seems to be very interested in using his big amount in liquidity to invest strongly on commodities, metals and raw materials...I think this will keep aud up in the longer term
  • #645
  • Feb 25, 2009 3:42am Feb 25, 2009 3:42am
It looks to me like if we can break this daily trendline, theres lots of room before we hit any major resistance...sorry for my dreadful arrows, Im afraid Im not getting any better with paint...ps skype crashed on me so will have to reorganize that...
Attached Image (click to enlarge)
Click to Enlarge Name: aussie daily.gif Size: 19 KB
Never say never.
  • #646
  • Feb 25, 2009 3:50am Feb 25, 2009 3:50am
Quoting razldazl
It looks to me like if we can break this daily trendline, theres lots of room before we hit any major resistance...sorry for my dreadful arrows, Im afraid Im not getting any better with paint...ps skype crashed on me so will have to reorganize that...
are you also noticing the buy on dips?
  • #647
  • Feb 25, 2009 4:31am Feb 25, 2009 4:31am
Quoting razldazl
Im afraid Im not getting any better with paint...ps skype crashed on me so will have to reorganize that...

You should see my paint. At least I can see the direction on yours.
Just Trade It
  • #648
  • Feb 25, 2009 4:46am Feb 25, 2009 4:46am
Quoting Big Wave Rider
You should see my paint. At least I can see the direction on yours.
Now I remember, you were the one who showed me how to use it in the first place lol, sounds like the blind leading the blind ehhhhhh
Never say never.
  • #649
  • Feb 25, 2009 4:56am Feb 25, 2009 4:56am
Quoting razldazl
Now I remember, you were the one who showed me how to use it in the first place lol, sounds like the blind leading the blind ehhhhhh
No, that would be cable update.
Just Trade It
  • #650
  • Feb 25, 2009 6:47am Feb 25, 2009 6:47am
Quoting Big Wave Rider
No, that would be cable update.
Shudder shudder- man that thread has a baaaaad reputation
Never say never.
  • #651
  • Feb 26, 2009 12:24am Feb 26, 2009 12:24am
aususd still in the 0,64 - 0,65 trading range with potential extensions to 0,639 and 0,655

will likely to remain in range with potential for an upside move still favourite due to a potential bounce in equities in the coming sessions
  • #652
  • Feb 27, 2009 8:25am Feb 27, 2009 8:25am
Aussie has finally broken the supporting trendline on daily timeframe which comes in now around 0.6400, so what Im looking for next week would be a pullback above 0.6400 and a drop back through for a sell. Take care, Raz
Never say never.
  • #653
  • Mar 1, 2009 3:28pm Mar 1, 2009 3:28pm
Looks like my order got picked up on friday night, so Im short from 0.6400, sl at 0.6450, we have gapped down so we may revisit the trendline at my entry, so leaving my stop where it is for now. Take care, Raz
Never say never.
  • #654
  • Mar 2, 2009 1:27am Mar 2, 2009 1:27am
ok,
so the trade took off and Im kicking myself for not leaving an order to buy some back at the supporting trendline (see chart) because a bounce was inevitable...Ive got my stop at breakeven now, but we may continue up before we drop again so I will probly sell again once this pullback finishes...lets see. Have taken partial profit at +30 in any case. Take care, Raz
Attached Image (click to enlarge)
Click to Enlarge Name: aussie daily.gif Size: 18 KB
Never say never.
  • #655
  • Edited 6:55am Mar 2, 2009 6:52am | Edited 6:55am
Ok
so took 1/3 off at +30 and have taken another 1/3 off at the trendline +82.
Im going to let the rest run with my stop at breakeven still, and what Im looking for now is a drop below the trendline a pullback and the chance for another sell once we drop back from the trendline. In a perfect world of course lol...take care all, Raz
Never say never.
  • #656
  • Mar 2, 2009 2:34pm Mar 2, 2009 2:34pm
Added a new position on a pullback to the trendline, at 0.6323, stop is above the 50 fib of last drop so not far away at around 0.6342, lets see how it goes...
Never say never.
  • #657
  • Mar 2, 2009 10:52pm Mar 2, 2009 10:52pm
I indeed kept my long position from 0,6410, where AUDUSD is still fighting with a resistance line

As I expected RBA did not cut rates, AUD is benefiting from the news and could benefit more if some risk appetite comes back in the equities

maybe it was a surprise, but once again Australia (and not US) could set the tone for the rest of the market as it happened in October with a 100bp rate cut

that's why I still believe that being long on AUSUSD is still a good choice for a long term trade, especially at these prices
  • #658
  • Mar 3, 2009 1:05am Mar 3, 2009 1:05am
Quoting fammira
I indeed kept my long position from 0,6410, where AUDUSD is still fighting with a resistance line

As I expected RBA did not cut rates, AUD is benefiting from the news and could benefit more if some risk appetite comes back in the equities

maybe it was a surprise, but once again Australia (and not US) could set the tone for the rest of the market as it happened in October with a 100bp rate cut

that's why I still believe that being long on AUSUSD is still a good choice for a long term trade, especially at these prices

Fammira maybe you should consider starting your own journal where you can jot down your trades and thoughts, this is specifically for Jacko style trades, thankyou. Raz
Never say never.
  • #659
  • Mar 3, 2009 1:14am Mar 3, 2009 1:14am
Quoting razldazl
Added a new position on a pullback to the trendline, at 0.6323, stop is above the 50 fib of last drop so not far away at around 0.6342, lets see how it goes...
Ok so trade 1 took 1/3 x 30 +1/3 x 82 + 1/3 x 58=53 pips total
trade 2 was -19, and is now AHd at 0.6342, as we have gone 50 pips above, so AH entry on that one is 0.6342

March total so far is 53-19=34 pips
Never say never.
  • #660
  • Mar 3, 2009 4:01am Mar 3, 2009 4:01am
Hi,
looks like a nice 4hr pin off the 61 fib of the last downmove, so I will jump in at 0.6400 for a short on that one...take care, Raz
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 4hr pin.gif Size: 18 KB
Never say never.
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