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AUD/USD

  • #3,061
  • Sep 7, 2009 8:59pm Sep 7, 2009 8:59pm
Quoting puks
Does anyone here think the aud/usd pair will hit .8400 anytime this week?

I am short from an average .8400 and would love to get breakeven amid this current uptrend rally.

Due to the size of my position, I can't trade any more unless I take some loss or wait till it reaches 8400.

appreciate your thoughts on this.
that's a tough one to call, but I think we might see 0.78-79 in 3-4 weeks if the ending diagonal which I have mentioned before would be a right reading. be patient dont closed it at break even, at least hold to it till .815
  • #3,062
  • Sep 7, 2009 9:19pm Sep 7, 2009 9:19pm
Quoting shahab8b
Hello Skiman,

what's your SL?
Mate, i have my stops just shy of .86. Am looking for 90 pips to 1st target (pressed wrong button on my pda in last post sorry).

When you're ready Mr Elliot! :-D
Bring on the red brigade!
  • #3,063
  • Sep 7, 2009 9:23pm Sep 7, 2009 9:23pm
Quoting Leche Mocha
You make an excellent point. That rising wedge pattern is a classic reversal pattern. I'm waiting for the break to jump on, though.
Thanks, hope it plays as I think. by the way, there are the same pattern at gold and silver but in 4hr chart I think they should drop till NY open
  • #3,064
  • Sep 7, 2009 9:35pm Sep 7, 2009 9:35pm
Quoting Skiman
Mate, i have my stops just shy of .86. Am looking for 90 pips to 1st target (pressed wrong button on my pda in last post sorry).

When you're ready Mr Elliot! :-D
Bring on the red brigade!
if I were you I put the SL a little bit above 0.8612 (weekly R1) to be on the safe side and TP around 0.8475 , I think on the way down some bulls put pending buy orders at resistant turns support so it makes it difficult to be broken at the firts assault . I'm already short this pair and gold too.
  • #3,065
  • Sep 7, 2009 9:40pm Sep 7, 2009 9:40pm
Quoting shahab8b
Hello Ben10,

I think get a short on daily pivot at if it touchs it agian,
my trades survive! now its get very interesting if 0.8530 penetrated to the down side then 0.8500 is the next check point, from there we may visit 0.8450 ,im going to be happy man
  • #3,066
  • Sep 7, 2009 9:44pm Sep 7, 2009 9:44pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting puks
Does anyone here think the aud/usd pair will hit .8400 anytime this week?

I am short from an average .8400 and would love to get breakeven amid this current uptrend rally.

Due to the size of my position, I can't trade any more unless I take some loss or wait till it reaches 8400.

appreciate your thoughts on this.
if i was you, i would hold onto it and take profit instead breaking even ... i know its pretty stressful but you should stick with the plan even if you get liquidated ... i beleive its either all the way long or all the way short ... i am almost on the same boat as you and i think i made the right choice ...

if the US$ goes down to 0084, it should break it and short term we should see atleast 8320 then 8280 and 8150
  • #3,067
  • Sep 7, 2009 9:48pm Sep 7, 2009 9:48pm
when im long aud/jpy and short aud/usd i got no choice but to short the dollar/yen , yeah im happy !

http://img39.imagefra.me/img/img39/2...1m_598f1b2.png
  • #3,068
  • Sep 7, 2009 9:53pm Sep 7, 2009 9:53pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting shahab8b
if I were you I put the SL a little bit above 0.8612 (weekly R1) to be on the safe side and TP around 0.8475 , I think on the way down some bulls put pending buy orders at resistant turns support so it makes it difficult to be broken at the firts assault . I'm already short this pair and gold too.
i agree ... i dont do SL but if you prefer SL, i would even go bit further up to 8630 just incase ...
  • #3,069
  • Sep 7, 2009 10:01pm Sep 7, 2009 10:01pm
Quoting shahab8b
if I were you I put the SL a little bit above 0.8612 (weekly R1) to be on the safe side and TP around 0.8475 , I think on the way down some bulls put pending buy orders at resistant turns support so it makes it difficult to be broken at the firts assault . I'm already short this pair and gold too.
Great tips, thankyou my friend

Its teasing us atm - the vixen!
  • #3,070
  • Sep 7, 2009 10:06pm Sep 7, 2009 10:06pm
Quoting ben10
when im long aud/jpy and short aud/usd i got no choice but to short the dollar/yen , yeah im happy !

http://img39.imagefra.me/img/img39/2...1m_598f1b2.png
Hectic!

Ive SO much to learn.

Whats with all those WMAs? Are they as functional as they look?
  • #3,071
  • Sep 7, 2009 10:18pm Sep 7, 2009 10:18pm
Quoting G_Man
i agree ... i dont do SL but if you prefer SL, i would even go bit further up to 8630 just incase ...
Hello Hedge Master,

Thanks for the comments, you said you dont do SL, so you mean you hedge every single position? how do you do it?I appreciate if you explain.
  • #3,072
  • Sep 7, 2009 10:24pm Sep 7, 2009 10:24pm
Quoting ben10
when im long aud/jpy and short aud/usd i got no choice but to short the dollar/yen , yeah im happy !

http://img39.imagefra.me/img/img39/2...1m_598f1b2.png
I notice a divergence in 5min chart ,be carful with the short USDJPY at least in very short term,
By the way do you ever use COT index?
  • #3,073
  • Sep 7, 2009 11:11pm Sep 7, 2009 11:11pm
here we go again with our pair

after making new highs AUDUSD is consolidation above the important 0,8519 level.

I see chances for further strenght in the coming days, but area 0,86 - 0,87 could provide a first good short opportunity.


0,8659 and 0,8694 are highs we saw at the end of August 2008.
It could make some sense to try a sell on strenght around those values.
I expect USD in recovering mood for this month, and probably a correction from equities, so we could see AUD around 0,80 - 0,82 this Autumn before a new attempt towards the 0,89 - 0,90 area.

let's watch closely and trade without hurry.
my idea is to sell on strenght and as close as possible to 0,87.

let us not make ourselves fooled by brief term fast moves on the downside that could lead us to act in a hurry and open shorts at lower levels
  • #3,074
  • Sep 8, 2009 12:17am Sep 8, 2009 12:17am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting shahab8b
Hello Hedge Master,

Thanks for the comments, you said you dont do SL, so you mean you hedge every single position? how do you do it?I appreciate if you explain.
its very simple: always start with very small exposure this way you will never have a heart attack ...
i just added more at 8601 ... will add more at 8700 if necessary ...
  • #3,075
  • Sep 8, 2009 12:41am Sep 8, 2009 12:41am
Quoting G_Man
its very simple: always start with very small exposure this way you will never have a heart attack ...
i just added more at 8601 ... will add more at 8700 if necessary ...
I used to do that way previously, but even with small exposure and adding to it after 100 pips, after a while you might reach some point to say that's enough coz you are giving back all you have earned so far, I dont know for how many years you are trading but it happens every three to four months and it's really annoying, even if you start when it's overbought or oversold you never know when is over. I had the experience last year, went long when GBPUSD was extremly oversold, RSI 14<20-25 ,and I added to it as it was dropping in hope of recovering the whole thing in one retracement and it never happened .I'm sure you know what had happend next.
  • #3,076
  • Sep 8, 2009 12:53am Sep 8, 2009 12:53am
Quoting shahab8b
I used to do that way previously, but even with small exposure and adding to it after 100 pips, after a while you might reach some point to say that's enough coz you are giving back all you have earned so far, I dont know for how many years you are trading but it happens every three to four months and it's really annoying, even if you start when it's overbought or oversold you never know when is over. I had the experience last year, went long when GBPUSD was extremly oversold, RSI 14<20-25 ,and I added to it as it was dropping in hope of recovering...

Thanks for the info on the MT4 site.
If there is ever any doubt then there is no doubt.
  • #3,077
  • Sep 8, 2009 1:05am Sep 8, 2009 1:05am
Hmm with the current market it seems like AUD will be holding above 85c for a while...

Gold is up and the news about equities recovering well might provide strong support for the aussie.
  • #3,078
  • Sep 8, 2009 1:22am Sep 8, 2009 1:22am
*ouch*
  • #3,079
  • Sep 8, 2009 1:36am Sep 8, 2009 1:36am
When the hell is this going to retrace?!

...and for how much?
  • #3,080
  • Sep 8, 2009 1:40am Sep 8, 2009 1:40am
Hi everyone, I am newbie. Hope to learn from you guys.
I manage to collect 60 pips and was stopped out by my trailing stop loss. initially wanted to scalp 10-15pips early asian session.
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