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AUD/USD

  • #3,081
  • Sep 8, 2009 3:45am Sep 8, 2009 3:45am
Quoting Skiman
When the hell is this going to retrace?!

...and for how much?
week end or early next week could be good for short

0,87
  • #3,082
  • Sep 8, 2009 3:46am Sep 8, 2009 3:46am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting Skiman
When the hell is this going to retrace?!

...and for how much?
did you set up SL at 8630 as i mentioned to you before? cuz it didnt hit 8630 ... went up to 8628 ...
  • #3,083
  • Sep 8, 2009 3:48am Sep 8, 2009 3:48am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting fammira
week end or early next week could be good for short

0,87
any idea, what is lowest it will go this week?

i think 8380 ... whats your opinion?
  • #3,084
  • Sep 8, 2009 3:59am Sep 8, 2009 3:59am
Quoting G_Man
any idea, what is lowest it will go this week?

i think 8380 ... whats your opinion?
I doubt we'll see it this week, use the strenght to open some shorts
  • #3,085
  • Sep 8, 2009 4:00am Sep 8, 2009 4:00am
Quoting G_Man
any idea, what is lowest it will go this week?

i think 8380 ... whats your opinion?
I just added more shorts at .8614. One more move to .8700 and I'll go all in.
  • #3,086
  • Sep 8, 2009 4:04am Sep 8, 2009 4:04am
Quoting puks
I just added more shorts at .8614. One more move to .8700 and I'll go all in.
I agree on you on the levels, but never go in with all your balance, one never knows, if you gain, you'll gain anyway
  • #3,087
  • Sep 8, 2009 4:07am Sep 8, 2009 4:07am
Quoting my30marahaba
hi fammira,

look at the forexlite index
see the enclosure chart
USDLFX - continue going down to level 1.7363 area
AUDLFX - continue going up to level 1.5314 area
if this all the valid movement so we will see the AUDUSD = (AUDLFX/USDLFX) at the level 0.8819
Hi Fammira Now see audusd moving up in process 0.8819

USDLFX - continue going down to level 1.7363 area
AUDLFX - continue going up to level 1.5314 area
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdlfx & audlfx.gif Size: 68 KB
Click to Enlarge Name: audusd.gif Size: 32 KB
  • #3,088
  • Sep 8, 2009 4:07am Sep 8, 2009 4:07am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting puks
I just added more shorts at .8614. One more move to .8700 and I'll go all in.
good on you buddy ... glad to see you are still on board ... hang in there ... lets stick together on this ... our time will come ...
  • #3,089
  • Sep 8, 2009 4:08am Sep 8, 2009 4:08am
Quoting fammira
I agree on you on the levels, but never go in with all your balance, one never knows, if you gain, you'll gain anyway
my average was .8400 but I am getting skeptical so I added more to bring my weighted average up to about .8500

I hope it reaches to that level by end of the week otherwise....................................................................
  • #3,090
  • Sep 8, 2009 4:10am Sep 8, 2009 4:10am
Quoting G_Man
good on you buddy ... glad to see you are still on board ... hang in there ... lets stick together on this ... our time will come ...
I really hope this thing hits .85 first before it hits .87.

If it hits 85 before Thursday, lets have a few drinks on Friday in CBD...
  • #3,091
  • Sep 8, 2009 4:11am Sep 8, 2009 4:11am
I'd wait till 9000 before going all in.. RBA hasnt increase the rate as of yet so 9000 should be unwarranted.

Might look for a re-entry long at 8500, half lot. The recent highs might be due to stops being triggered so the retrace should come soon enough...

Currently short for the retrace but I'm still AUD bullish though.
  • #3,092
  • Sep 8, 2009 4:11am Sep 8, 2009 4:11am
Quoting puks
my average was .8400 but I am getting skeptical so I added more to bring my weighted average up to about .8500

I hope it reaches to that level by end of the week otherwise....................................................................
not this week, but next one your chances will increase much so be patient and in two weeks you will probably be making good profits
  • #3,093
  • Sep 8, 2009 4:13am Sep 8, 2009 4:13am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
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...
did you just say GBP/USD? thats a place for suicide ... i wont even dream of using this strategy in that pair ... this is more practical for AUD and NZD (slow and steady) ... i only trade AUD and EUR ...
  • #3,094
  • Sep 8, 2009 4:16am Sep 8, 2009 4:16am
Quoting fammira
not this week, but next one your chances will increase much so be patient and in two weeks you will probably be making good profits
My fingernails have disappeared.

I really hope the retail sales tomorrow morning comes out in negative, unemployment rose to more than 6% = AUDUSD = .8250 (same level where it was last wednesday)
  • #3,095
  • Sep 8, 2009 4:35am Sep 8, 2009 4:35am
Im still in on a couple of trades, but a couple of them stopped out because id set the stop too small trying to grab bounces off the various resistances and some of those big candles just rushed up and charged through them while i wasnt looking. Silly huh.

Another lesson learnt. :-|

So im currently short at 0.8591 (just above R2) and also at 0.8612 (just above R3).

Would it be worth going long to collect a little profit if we're expecting this to go to 0.87? Or am i just compounding my problems? Is this what they call a 'hedge'?

Thanks for all the advice guys - appreciate it
  • #3,096
  • Sep 8, 2009 4:45am Sep 8, 2009 4:45am
I am looking for a corrective wave to reach arround .8930 then it will be at 76,4% of fibon. and that could be the sell zone in a correction of a sell of which started 13.7.2008 at 0.982. If i am right then the runaway train won"t stop till 0.58xxx. Of course if i am right. I am looking at weekly chart.
I am back. Actually, I never left...
  • #3,097
  • Sep 8, 2009 4:47am Sep 8, 2009 4:47am
Quoting Skiman
...
So im currently short at 0.8591 (just above R2) and also at 0.8612 (just above R3).
...
I'm waiting for R3 (AND what PA will do at this area), are You sure that R3 is at 0.8612? My R3 is at 0.8649
  • #3,098
  • Sep 8, 2009 4:55am Sep 8, 2009 4:55am
Quoting 4xmajkel
I'm waiting for R3 (AND what PA will do at this area), are You sure that R3 is at 0.8612? My R3 is at 0.8649
Yeh.. R3 is 0.8613 on my metatrader. Is that wrong?! Maybe its the daily R3 and you're looking at weekly? Which one should i be looking at?

Hmmm... this is a concern to me.
  • #3,099
  • Sep 8, 2009 5:01am Sep 8, 2009 5:01am
My MT4 indicator and this: http://www.actionforex.com/technical...-200603215759/ tells me that R3 is at 0.8649
  • #3,100
  • Sep 8, 2009 5:02am Sep 8, 2009 5:02am
Skiman
Is this what they call a 'hedge'?

Thanks for all the advice guys - appreciate it [/quote]

A hedge is when:
You buy aud at .8500. On your account is only 100$ and you buy 1 lot, so 1 pip is 1$, The aus$ felt 80 pips and you see that you are about to loose all of your cash, so you hedge your position that means that you sell the same ammount that you previously bought. Your" loss/profit is stalled altough market is active. I hope you understand cause my english is not very good. On Slovene it would be much easier for me.
I am back. Actually, I never left...
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