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AUD/USD

  • #3,421
  • Sep 10, 2009 9:49pm Sep 10, 2009 9:49pm
ooops times calling i got to go !see you all tonite! good trading to you all
  • #3,422
  • Sep 10, 2009 10:09pm Sep 10, 2009 10:09pm
Quoting ben10
wat do think next few weeks pound move above 1.7100? ausiie will follow to the up side if that the case, i'll attack and ride gbp/jpy by then!
well, i have been looking to the daily and 4h chart for it ,, i can see its on a very low angel uptrend , i m not sure the last month spike to this level will be possible or not for it , cause in this time of the year gbp/usd starts to loose momentum and crawl down ,, maybe it ll make a double top before it does that , i m not sure
  • #3,423
  • Sep 10, 2009 10:35pm Sep 10, 2009 10:35pm
Quoting ben10
i got quite heavy at gbp/usd short at 1.65 but im gbp/jpy long to stop bleeding
I am also short Cable 1,66
  • #3,424
  • Sep 10, 2009 10:46pm Sep 10, 2009 10:46pm
Quoting fammira
I am also short Cable 1,66
This AUD/USD is getting out of control. I need it to retract back by another 200 pips.

Does anyone think here it'll retract back to .8500 anytime soon?

I am sweating on it....
  • #3,425
  • Sep 10, 2009 11:01pm Sep 10, 2009 11:01pm
A break of 0.8650 could be worrisome... I'm holding out for 0.8500 also, luckily I dumped some at 0.8550 earlier but got back in on some at 0.8600... still holding some from mid 0.8400's though... just been trading in and out of a few units but am still down... really praying for a break to 0.8500 also, I really only see that coming tomorrow if the US consumer confidence is down big and the US stock market sells off... otherwise, it's gonna be another LONG weekend! lol
  • #3,426
  • Sep 10, 2009 11:14pm Sep 10, 2009 11:14pm
Quoting puks
This AUD/USD is getting out of control. I need it to retract back by another 200 pips.

Does anyone think here it'll retract back to .8500 anytime soon?

I am sweating on it....
from my opinion ,, if we look at the big picture here for all the risk curriencies ,, euro and gbp ,, all of them is goind to a criticallevels now ,, euro going throught the 1.46 level and the gbp going throught the resistance at 1.6620 , if them break throught they will grap rish buyers and that will continue the weakness of the usd and will bounce the aud higher than its critical level at 0.8670 ,, u should watch them all together
if not then a retracement will happen but i m not sure to where it ll land as it was so unpredictable now adays ,, yesterday i would swear it ll pass throught the 8550 but it didnt ,, so i m not quite sure for that but anyways lets watch it all together
i recommend to take a position if it breaks the 8670 cause there will be surely some rally to 87s levels
i hope it breaks down as i m bored of watchin it going high and messing me some pips cause of my predicition for a down trend
  • #3,427
  • Sep 11, 2009 12:07am Sep 11, 2009 12:07am
Uh oh, I'm hoping that 0.8650 breach was just there to take out stops... regardless of the consumer confidence tomorrow (good or bad), it's very possible the market sells the news... we're looking at a big drop in US stocks or a nice breakout to the upside very very soon... amazing the DOW closed over 9600 today.
  • #3,428
  • Sep 11, 2009 12:17am Sep 11, 2009 12:17am
Quoting puks
This AUD/USD is getting out of control. I need it to retract back by another 200 pips.

Does anyone think here it'll retract back to .8500 anytime soon?

I am sweating on it....
next week you should be there, hedge or use stops next time
  • #3,429
  • Sep 11, 2009 12:25am Sep 11, 2009 12:25am
Check out the 4 hour chart from around July 29th, shot up real high, then started consolidating August 3rd .... then a steep drop about a week later starting near August 10th... looks very similiar to what's going on here.
  • #3,430
  • Sep 11, 2009 12:36am Sep 11, 2009 12:36am
In the same boat as you Puks.....missed a stop on it and paying for it ....keep thinking the Usd is going to bounce but the sell off is pretty relentless atm.Does not seem to be much coming up to slow the DJIA momentum either...have to trade what is in front of us 'cos whatever else price is king...notice gold trading at $1001.40 at present.
  • #3,431
  • Sep 11, 2009 1:23am Sep 11, 2009 1:23am
Quoting ben10
wat do think next few weeks pound move above 1.7100? ausiie will follow to the up side if that the case, i'll attack and ride gbp/jpy by then!

I would be surprised if it went past 1.68
H&S forming, left shoulder had a high of 1.6750 before it tanked,right shoulder seems doomed to a similar fate.

short at 1.66, hoping to see below 1.60 but the draw down needs some steel nuts
Some drink at the fountain of knowledge. Others just gargle !
  • #3,432
  • Sep 11, 2009 1:28am Sep 11, 2009 1:28am
Falling real nice now, we get some follow through here and a bad day on the DOW tomorrow and we could easily be seeing 0.8500; it'll be funny to close at the same level we did last Friday if that happens.
  • #3,433
  • Sep 11, 2009 1:35am Sep 11, 2009 1:35am
Quoting fammira
next week you should be there, hedge or use stops next time

I made a huge mistake by not hedging. Started my first short position from .8306 and kept adding shorts. Stupid me! I should have gone long in EUR/USD or GBP/USD to hedge and be on a safer side.

I learnt the lesson but hoping not to pay big price for it...

Do you think its good to hedge in GBP/USD from this point onwards?
  • #3,434
  • Sep 11, 2009 1:39am Sep 11, 2009 1:39am
Quoting thadakman
Falling real nice now, we get some follow through here and a bad day on the DOW tomorrow and we could easily be seeing 0.8500; it'll be funny to close at the same level we did last Friday if that happens.
Did you say funny?? I would be "lucky" if we close to last Friday's close.

This has been one of the most traumatic weeks of my forex life...and obviously I've learnt a lot along the way....
  • #3,435
  • Sep 11, 2009 1:40am Sep 11, 2009 1:40am
Quoting puks
I made a huge mistake by not hedging. Started my first short position from .8306 and kept adding shorts. Stupid me! I should have gone long in EUR/USD or GBP/USD to hedge and be on a safer side.

I learnt the lesson but hoping not to pay big price for it...

Do you think its good to hedge in GBP/USD from this point onwards?
market is always about ups and down
hedging and stop are not always the right thing to do but for sure they are safer strategies

I suggest you to hold without any fear, USD moment is not far...
  • #3,436
  • Sep 11, 2009 1:43am Sep 11, 2009 1:43am
Quoting fammira
market is always about ups and down
hedging and stop are not always the right thing to do but for sure they are safer strategies

I suggest you to hold without any fear, USD moment is not far...
Thanks and appreciate your help on this.

Cheers

GOD BLESS USD
  • #3,437
  • Sep 11, 2009 1:45am Sep 11, 2009 1:45am
Quoting puks
Did you say funny?? I would be "lucky" if we close to last Friday's close.

This has been one of the most traumatic weeks of my forex life...and obviously I've learnt a lot along the way....
This is traumatic for me too, I went in bigger than usual b/c I've benefited several times on breaks over 0.8400 up to this point... but I gotta stay relaxed, learn from my mistakes, and try to keep a positive attitude that things will work out in the end (not necessarily with this trade, but in my overall Forex trading)... plus, I don't want to stress too much and start losing my hair, I'm too young for that! lol
  • #3,438
  • Sep 11, 2009 1:47am Sep 11, 2009 1:47am
Quoting puks
I made a huge mistake by not hedging. Started my first short position from .8306 and kept adding shorts. Stupid me! I should have gone long in EUR/USD or GBP/USD to hedge and be on a safer side.

I learnt the lesson but hoping not to pay big price for it...

Do you think its good to hedge in GBP/USD from this point onwards?
i dont wanna sound stupid guys but may someone explain to me whats hedging plz
  • #3,439
  • Edited 2:13am Sep 11, 2009 1:53am | Edited 2:13am
trend is for sure important

but if you notice, all our mistakes are about emotions

when price goes up we tend to buy and when price goes down we want to sell indeed

actually trade calmly and exploit divergences and fast moves is important in forex, as well as money and position management

when last week market was going down, I was reading a lot of negative comments and numbers like 0,70X soon....

but actually these moves are ordinary in the market, and we risk to be trapped by emotions.
what happened yesterday and this morning is still the same thing but on the opposite direction, that's why I would be confident with my shorts now...
  • #3,440
  • Sep 11, 2009 1:55am Sep 11, 2009 1:55am
Quoting Jesus4748
i dont wanna sound stupid guys but may someone explain to me whats hedging plz
Example of hedging is short one pair and long another pair to reduce the exposure; short AUD/USD and long GBP/USD.
just speculating
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