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AUD/USD

  • #6,361
  • Oct 12, 2009 12:48am Oct 12, 2009 12:48am
Quoting puks
hi all,

Can you please advise what would be the best time-frame to trade using charts?

I look for MACD, RSI and SAR on 5,10 & 15 mins but noticed that out of those 3, 15 minute time-frame is usually more accurate.

Can you all please shed some light on this topic?

thanks
puks i use hourly charts and sometimes 30min but cant help you on the indicators part cuase i dont use them
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #6,362
  • Oct 12, 2009 12:53am Oct 12, 2009 12:53am
Quoting puks
hi all,

Can you please advise what would be the best time-frame to trade using charts?

I look for MACD, RSI and SAR on 5,10 & 15 mins but noticed that out of those 3, 15 minute time-frame is usually more accurate.

Can you all please shed some light on this topic?

thanks
Hi, in my opinion best TF for everyone doesn't exist, you should find what TF is most suitable for your knowledge, experience, and trading style.
I prefer 5M and 15M with respectation of 1H and 4H. (quick trades for 10-30 pips, sometimes more)
About MACD, RSI, and SAR - I don't use them
  • #6,363
  • Oct 12, 2009 1:16am Oct 12, 2009 1:16am
Quoting puks
hi all,

Can you please advise what would be the best time-frame to trade using charts?

I look for MACD, RSI and SAR on 5,10 & 15 mins but noticed that out of those 3, 15 minute time-frame is usually more accurate.

Can you all please shed some light on this topic?

thanks
a short and a long time frame toghether are the best option to see how market moves in my opinion (15M and 4H).

I don't use many indicators, they would drive me crazy, but combining long and short time frame is good according to my short experience
  • #6,364
  • Oct 12, 2009 1:21am Oct 12, 2009 1:21am
i have been trading for 1 year plus only and had more misses than hits. i used to use RSI but found that it can remain in the oversold and overbought level for a long time and the price continues in the same direction when it was supposed to reverse. so now i am using MACD. MACD gives early warning of a possible change of trend but it needs confirmation from other indicators like Stochastic and the candle stick patterns. It gave better results. don't ever trade on any single technical indicator. one more important aspect of trading that i must share that got me killed so often in the past. the 1 minute chart is very hard to trade. you end up missing the woods for the trees. don't ever trade based on 1 minute chart if possible. 5 min is a minumum i would used. i prefer a 10 minute chart for my trading with an eye on the hourly chart to keep me in perspective.

this is just my humble thoughts.
  • #6,365
  • Oct 12, 2009 1:22am Oct 12, 2009 1:22am
How certain are you of a move down to .88 by tomorrow Fammira?
  • #6,366
  • Oct 12, 2009 1:49am Oct 12, 2009 1:49am
Good Morning FOlks!!!

Whats UP!!! HOz it going today?

Have we reached the support level at 9000? By looking at 30M,15M, it seems 9000 is a strong support area and if its broken, we might be looking at 8980 and 8950 next...

Is it a good time to go long at 9000 or you guyz think we should wait?
  • #6,367
  • Oct 12, 2009 2:00am Oct 12, 2009 2:00am
Quoting dazers
How certain are you of a move down to .88 by tomorrow Fammira?
nothing is certain to me, I am just expressing my opinion
  • #6,368
  • Oct 12, 2009 2:09am Oct 12, 2009 2:09am
i said it hours ago ,,, i knew it ll break down the 00.90 level ,,, and i said about the bearish penate and the price breaking from the trend line
  • #6,369
  • Oct 12, 2009 2:15am Oct 12, 2009 2:15am
Added small long @ .9000, buy order for .8900
  • #6,370
  • Oct 12, 2009 2:22am Oct 12, 2009 2:22am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Guys,

just got back and saw the rate ... looks pretty good ...

but please tell me whas the support level ...

i have a short from 9015 that i wanna get rid of ...
  • #6,371
  • Oct 12, 2009 2:23am Oct 12, 2009 2:23am
Quoting G_Man
hi puks, i am in this short battle since 3rd Sep as you know and i dont wanna give up until i make some decent profit ...

i still think AUD/USD was oversold but i do beleive its bullish for atleast next 6 - 12 months (Stevens promised 1.75% interrstet rate increase in next 12 months) but there's always a bearish in between bullish and this is exactly what i am waiting for ...

like fammira said and i agree with him that it should drop back to 84-85 (but i beleive 87 - 88) before it starts moving back up again ...

i will be TP at 8780 and then...
when fammira said that ,, it already happened and it droped to 8550 before this massive trend up to 0.9 ,, i think it ll never never never go down to this level again any soon ,, i believe it maybe go down as far as 0.88 or something before going up again
  • #6,372
  • Oct 12, 2009 2:24am Oct 12, 2009 2:24am
Quoting fammira
a short and a long time frame toghether are the best option to see how market moves in my opinion (15M and 4H).

I don't use many indicators, they would drive me crazy, but combining long and short time frame is good according to my short experience
Thanks mate.

Appreciate your help.

Thanks to other people who have responded to my question too.

Cheers
  • #6,373
  • Oct 12, 2009 2:28am Oct 12, 2009 2:28am
i would say as well that for sure today it ll close on negative from last close cause we dont expect any changes in the market by ny open cause they have a holiday today ,, so the behavior of the market wont changed i think massevly untill tomorrow ,,, after couple of hours from now ,, london will enter its last hours and the liquidity of the market will dry and no other session will come on till tomorrow to push liquidity in the market to make any upward trend
so i think i ll wait till the end of the day to see where this down trend will be going
  • #6,374
  • Oct 12, 2009 2:53am Oct 12, 2009 2:53am
Hi all,
Been out all day and no trade. Missed the shorting opportunity from 90.50 this mmorning. Any ideas where we are headed for? I would have thought that the support at around 90.17 would have been tough to break.
Find a job that you love and you dont have to work again in your life.
  • #6,375
  • Oct 12, 2009 2:55am Oct 12, 2009 2:55am
I think aud/usd will go down as far as 8960 before it will make some correction, what d'ya think?
Success consists of going from failure to failure without loss of enthusiam
  • #6,376
  • Oct 12, 2009 2:57am Oct 12, 2009 2:57am
Should i enter long with aud/jpy?
Success consists of going from failure to failure without loss of enthusiam
  • #6,377
  • Oct 12, 2009 2:59am Oct 12, 2009 2:59am
Quoting dongsky
Should i enter long with aud/jpy?
this pair has gone up because of the strenghtening of US$. I think its still safe to go long but watch out for US Interest rate news as it would affect it intensely.
Find a job that you love and you dont have to work again in your life.
  • #6,378
  • Oct 12, 2009 3:05am Oct 12, 2009 3:05am
Quoting tradoholic
this pair has gone up because of the strenghtening of US$. I think its still safe to go long but watch out for US Interest rate news as it would affect it intensely.
gee thanks mate... i'll be watchful
Success consists of going from failure to failure without loss of enthusiam
  • #6,379
  • Oct 12, 2009 3:08am Oct 12, 2009 3:08am
entered long aud/jpy @ 81.20 stop loss @ 81.00
Success consists of going from failure to failure without loss of enthusiam
  • #6,380
  • Edited 3:54am Oct 12, 2009 3:09am | Edited 3:54am
Quoting Jesus4748
when fammira said that ,, it already happened and it droped to 8550 before this massive trend up to 0.9 ,, i think it ll never never never go down to this level again any soon ,, i believe it maybe go down as far as 0.88 or something before going up again
hi jesus,

trend is solid, I do agree, but you have to understand that corrections are part of the game, even quite big ones, especially when market is very very long and that is AUD's case

I expect such a correction, or even more, in the coming month, after another rise.the pullback started on Friday will probably be a short one, as it seems aimed only at giving some breath to the dollar

but after a further rise (and honestly above 90 - 91 I don't see a lot of upside) we could see the big drop I am talking about, because market never shows levels and continously trap traders.
Remember that even in case of drop to levels like 77 -78 uptrend would still be intact so never say never, and also don't forget commodities currencies are known for leading the rallies and lacking afterwards.

Nevertheless I expect 95 - 96 to be shown at the end of the year, when low liquidity could amplify the gains...for parity I guess we'll have to wait for 2010.
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