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AUD/USD

  • #6,461
  • Oct 13, 2009 12:49am Oct 13, 2009 12:49am
Quoting Money-RX
On a run since February once again less than 20 from yearly high.

Is this the week that the dollar stages the big rally?

Is this the time to trade against the trend?

I am not smart enough for that kind of market timing. I will stick with my simple but highly effective buy the dips, watch the RSI for the best entry, and get that SL to break even then utilizing OPM.

The RSI is effective in any time frame with A/U.
Hi Money-Rx, I'd like to know more about your system, do you use Hidden Divergence or just buy whenever RSI crosses 50? where do you put the SL when using this system?
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  • #6,462
  • Oct 13, 2009 1:10am Oct 13, 2009 1:10am
Quoting thadakman
Interesting story from FX360.com ......
I couldn't agree more
  • #6,463
  • Oct 13, 2009 1:41am Oct 13, 2009 1:41am
Quoting shahab8b
Hi Money-Rx, I'd like to know more about your system, do you use Hidden Divergence or just buy whenever RSI crosses 50? where do you put the SL when using this system?
Right now SL at 8920 below last 3 days low.

I have been buying since early this year and add to position when profit creates suitable margin. Next buy will be at next dip in price and also taking into consideration news. News is all over the place from doom and gloom to a full recovery but generally as long as the corrupt politicians keep spending like drunken sailors then dollar will probably continue to fall.

RSI and averages are helpful in defining entries.
Currently have limit order in at 9000.
Smallest profit position is around 90 pips.

Riding a rare trend like this is where you make some serious cash. Just keep it simple and don't try to over analyze the charts.

Also into NZD which is nearing another new high.
History is written by the victors.
  • #6,464
  • Oct 13, 2009 1:59am Oct 13, 2009 1:59am
good morning guys for the first time since the october rally i see a peak volume on the AUD it is usually spike on dips
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #6,465
  • Oct 13, 2009 2:31am Oct 13, 2009 2:31am
head and shoulders formed on 30 min chart
  • #6,466
  • Oct 13, 2009 2:43am Oct 13, 2009 2:43am
I have taken AUDUSD short @ 9012 and still Holding Same , may i have the outlook From Seniour Members i can hold on to Short postion For the Next 2-3 days ,

Shall i exit in loss , hold On ..What are best levels to Book Profits ???


Thanks in advance
  • #6,467
  • Oct 13, 2009 2:50am Oct 13, 2009 2:50am
Hi All
This great presentation made by Ms. Warren in a Jefferson memorial lecture at UC Berkeley is a must watch for everyone who wants to know and understand how and why the downfall of America is happening..I downloaded it and saw it in it's entirety! Worth the watch. What struck me is that this lecture was given in 2007 - thats before the current financial crisis had even started! I am sure that the financial crisis must have exacerbated the already dire situation and the downward spiral must have gotten even faster. I wonder what Ms. Warren would have to say about the same situation today? Would make very interesting viewing! Please watch it when you have some time

http://www.youtube.com/watch?v=akVL7QY0S8A



Find a job that you love and you dont have to work again in your life.
  • #6,468
  • Oct 13, 2009 2:53am Oct 13, 2009 2:53am
Hi all!

Waiting for my short to go below 89, I'll take a week off and go to Indonesia for a leisure trip

Wish you all good trading and a great week!

Francesco
  • #6,469
  • Oct 13, 2009 3:03am Oct 13, 2009 3:03am
90.47 pivot hard to break, I am more bullish this time.....
Find a job that you love and you dont have to work again in your life.
  • #6,470
  • Oct 13, 2009 3:33am Oct 13, 2009 3:33am
Quoting fammira
Hi all!

Waiting for my short to go below 89, I'll take a week off and go to Indonesia for a leisure trip

Wish you all good trading and a great week!

Francesco
You made that much last couple days huh?
  • #6,471
  • Oct 13, 2009 3:43am Oct 13, 2009 3:43am
Quoting new_fx_kid
I have taken AUDUSD short @ 9012 and still Holding Same , may i have the outlook From Seniour Members i can hold on to Short postion For the Next 2-3 days ,

Shall i exit in loss , hold On ..What are best levels to Book Profits ???


Thanks in advance
Why would you want to short this pair?
Gone to a better place
  • #6,472
  • Oct 13, 2009 3:46am Oct 13, 2009 3:46am
Gold hitting the highs again. Risky to short the Aussie yet. I closed my long positions and waiting for Gold to Tumble then I will short AU$.
Find a job that you love and you dont have to work again in your life.
  • #6,473
  • Oct 13, 2009 3:48am Oct 13, 2009 3:48am
Quoting tradoholic
Gold hitting the highs again. Risky to short the Aussie yet. I closed my long positions and waiting for Gold to Tumble then I will short AU$.
You will get a good opportunity to short at around .93-94 cent mark.
  • #6,474
  • Oct 13, 2009 3:48am Oct 13, 2009 3:48am
Quoting smikester
Why would you want to short this pair?
I would close my shorts and take a double long position from here on.

but that's just me!!
  • #6,475
  • Oct 13, 2009 4:03am Oct 13, 2009 4:03am
Quoting fammira
Hi all!

Waiting for my short to go below 89, I'll take a week off and go to Indonesia for a leisure trip

Wish you all good trading and a great week!

Francesco
have a good trip!!!
Success consists of going from failure to failure without loss of enthusiam
  • #6,476
  • Oct 13, 2009 4:08am Oct 13, 2009 4:08am
Quoting puks
I would close my shorts and take a double long position from here on.

but that's just me!!
I don't know. We have had 3 days of consolidation. I'm long but I would be interested why someone would want to short this pair. A post like that is not helpful. I suppose I'm more experienced than that guy, possibly, but how can I give my opinion if he doesn't give some sort of fundamental or technical argument for being short. Maybe it's .9000 round number? If that is the case then maybe you are going to pinch a few pips because of profit taking and general "central station" movement around that figure. But you can't call it a top without some sort of analysis.
Gone to a better place
  • #6,477
  • Oct 13, 2009 4:11am Oct 13, 2009 4:11am
Australia has maintained its economy through strong trade with China as it exports commodities such as iron ore and coal to fuel China’s demand that it has generated through its stimulus package. But it could be dangerous for Australia to depend too much on China as a large part of the demand was in restocking inventories. Now Australia is trying to decide when it should take away its stimulus and how quickly it will tighten monetary policy, but I am also monitoring growth and trade with China as an important factor for future economic stability and growth in Australia.
  • #6,478
  • Oct 13, 2009 4:27am Oct 13, 2009 4:27am
Look what happened yesterday, London session. Price fell to 12 pips below .9000 and jumped off it like water off red hot iron.

That's what I call market sentiment.
Gone to a better place
  • #6,479
  • Oct 13, 2009 4:40am Oct 13, 2009 4:40am
Why is there such an importance on the price of gold and its effect on the AUD:USD pair, as in only short when gold price heads south??

Much appreciated.
  • #6,480
  • Oct 13, 2009 4:59am Oct 13, 2009 4:59am
Quoting smikester
Look what happened yesterday, London session. Price fell to 12 pips below .9000 and jumped off it like water off red hot iron.

That's what I call market sentiment.
LOL Perhaps it is a long if not in a scalp mode as currently it doesn't want to break the 9081 area. With that said there seems to always be a drive within an hour give or take near the open of the U.S. markets and near the close of the Brit market, I'm still holding shorts and will add another on retest of the daily high (if not broken).......
Never been vouched
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