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AUD/USD

  • #6,501
  • Oct 13, 2009 10:10am Oct 13, 2009 10:10am
Interesting pullback. Bullish sentiment is still strong, however a sell opportunity is still possible for a quick 20-50pips. I will wait the next H4 bar.
-Only you and your signal, stick to it. The rest are just noise-
  • #6,502
  • Oct 13, 2009 10:20am Oct 13, 2009 10:20am
Quoting tradoholic
I have learnt the hard way not to average out. Always exit positions and re enter. I am going long from 90.07, pre emptive move as the trend line is up. I think so far as gold is holding up AU$ will do the same...
Well all I can say about averaging is, yup you're pretty much right each time I do this I see missed opportunities and barley escape my screw up....but I survived this time however, I tried a news trade on the GBPUSD today, man it bent me over and drove me around my desk, last time I do that all in all a disastorus day.
Never been vouched
  • #6,503
  • Oct 13, 2009 10:54am Oct 13, 2009 10:54am
From simple Elliot wave and fibo extension the next logical target is 0.9612 in the next weeks, months, nobody knows.
Is it that simple, you may ask. If I can predict that target I am sure the majority traders here can also do the same.
But we are not trading alone, the big guys know what we know and they are there to make money by making our live difficult and slapping our stoplosses .

So, is up to us, even tough we can smartly predict long term target, are we ready to challenge the big guys? They can easily play 100, 200 even 300pips pullback just to catch our stop loss without really making a significant damage in their account.
By no means this is to teach you guys, but just sharing what I think is important specially for those who really enjoy doing average down or average up, I hope you really aware the risk.
I am just killing my time waiting for my next 4H bar.
Attached Image (click to enlarge)
Click to Enlarge Name: aud 13oct.gif Size: 17 KB
-Only you and your signal, stick to it. The rest are just noise-
  • #6,504
  • Oct 13, 2009 11:00am Oct 13, 2009 11:00am
Quoting iono
Well all I can say about averaging is, yup you're pretty much right each time I do this I see missed opportunities and barley escape my screw up....but I survived this time however, I tried a news trade on the GBPUSD today, man it bent me over and drove me around my desk, last time I do that all in all a disastorus day.
wanna give u an advice ,, i learned it the hard way
firstly never trade the news cause sometimes the report is so negative and it push the market in the different direction and check when the last report went out and check it on the chart to see its effect before u plan anything ,, example ,, it went out on 9th of sep and was negative ,, go back on chart at exact date and time and check the effect and then plan ur strategy

secondly and the most importante ,,, GBP is a dangeours pair to deal with ,,, once before it knoced me down with 1500$ off my account ,, cause a bitch came out of there and said that there could be rates down change ,, althought all the reports was negative and the market was expecting a rally up ,, but the GBP does all the unexpected and try to watch it for the next week without trading it and u ll notice and have petty on however trading it with its sharp drops , even sometimes the euro closes on positive and the AUD and all the risk curriencies but the GBP closes with over 50pip negative and sometimes it closes with 250 pip negative ,, that very very very rarley happen with Aud and some other curriences , if u can afford this volatility of it ,, u can do it but if u r new or dont wanna risk much ,,, then dont let its jumps up trick u to trade it cause it jumps down harder
and good luck
  • #6,505
  • Oct 13, 2009 11:18am Oct 13, 2009 11:18am
Been waiting 15' after my H4 bar printed, and it says NO NO, so sleep time and i'll have a peek next 4hr.
happy trading guys really enjoy your posts.
-Only you and your signal, stick to it. The rest are just noise-
  • #6,506
  • Oct 13, 2009 11:23am Oct 13, 2009 11:23am
Quoting iono
Well all I can say about averaging is, yup you're pretty much right each time I do this I see missed opportunities and barley escape my screw up....but I survived this time however, I tried a news trade on the GBPUSD today, man it bent me over and drove me around my desk, last time I do that all in all a disastorus day.
a live example what happened today ,, a month or little more ago ,, we used to see the gbp aud and euro moving together in most of the times but it only differs how strong they move but its all in same direction ,, but now ,, u see the gbp/usd till now its on 80pip positive but the euro is negative and the Aud is negative ,, yesterday it was the vice versa ,, now they r hard to understand
but the AUD Euro make more sence than the GBP ,, at least u know that the gold is holding the Aud and moving it as it made world records ,, but its harder to understand the GBP
  • #6,507
  • Oct 13, 2009 11:24am Oct 13, 2009 11:24am
Quoting nd41
Been waiting 15' after my H4 bar printed, and it says NO NO, so sleep time and i'll have a peek next 4hr.
happy trading guys really enjoy your posts.
had my sleeping time while to was going down from its last rally ,, not its the time for waking up to see where it ll rest before any jump up again
  • #6,508
  • Oct 13, 2009 1:59pm Oct 13, 2009 1:59pm
Quoting thadakman
Interesting read about possible AUD parity with USD.

http://www.cnbc.com/id/33287309/

Long story short, not likely... But, the break above 0.89 set the upside target towards 0.95 by Christmas with a possible spike as high as 0.97; on the downside, 0.8400 looks to be the lowest support level... keep in mind what happened last time AUD almost went parity with USD though, it completely collapsed!

This article is from Daryl Guppy by the way; he's been pretty "on" with his chart analysis in the past.
good read thanks
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #6,509
  • Oct 13, 2009 4:49pm Oct 13, 2009 4:49pm
Quoting jyndrus
hope so, holding 2 shorts now
What's the target? 100 pips?
Gone to a better place
  • #6,510
  • Oct 13, 2009 6:05pm Oct 13, 2009 6:05pm
Quoting smikester
What's the target? 100 pips?
first TP .8990, second .8920 hope it gets there.
  • #6,511
  • Oct 13, 2009 6:31pm Oct 13, 2009 6:31pm
morning all,
I have noticed that there is a large lag between my readings of AU$ from my broker order tickets to that of e-signal that I get the raw data for my analysis. This is always against me doesnt matter what direction I am in. Can others share their thoughts on this with me on this.
Find a job that you love and you dont have to work again in your life.
  • #6,512
  • Oct 13, 2009 6:46pm Oct 13, 2009 6:46pm
Quoting thadakman
Interesting read about possible AUD parity with USD.

http://www.cnbc.com/id/33287309/

Long story short, not likely... But, the break above 0.89 set the upside target towards 0.95 by Christmas with a possible spike as high as 0.97; on the downside, 0.8400 looks to be the lowest support level... keep in mind what happened last time AUD almost went parity with USD though, it completely collapsed!

This article is from Daryl Guppy by the way; he's been pretty "on" with his chart analysis in the past.
i use his system Thadakman, guppy multiple moving average

http://img03.imagefra.me/img/img03/2...fm_b12a16d.png
  • #6,513
  • Oct 13, 2009 6:52pm Oct 13, 2009 6:52pm
Quoting tradoholic
morning all,
I have noticed that there is a large lag between my readings of AU$ from my broker order tickets to that of e-signal that I get the raw data for my analysis. This is always against me doesnt matter what direction I am in. Can others share their thoughts on this with me on this.

Morning Tradoholic! me think you ought to always use the brokers chart for trading, 'cos you bet on their platform! make sense?
  • #6,514
  • Oct 13, 2009 7:19pm Oct 13, 2009 7:19pm
add more long when im in profit short the aussie to protect the gain,it will create best value for the aud/nzd cross short syntheticly, then ..

http://img40.imagefra.me/img/img40/2...bm_f72aa33.png

watch the aud/nzd chart formation ready to go long with the markets money also its function as the gain protector or imperfect hedging, ready to attack thats move adding to the winning side ring a bell? ding ding
  • #6,515
  • Oct 13, 2009 7:21pm Oct 13, 2009 7:21pm
Morning Ben (i have the same name btw), just wondering what broker/platform you and others here use to trade Forex and if you also use a seperate charting programme?
  • #6,516
  • Oct 13, 2009 7:31pm Oct 13, 2009 7:31pm
Quoting Jesus4748
a live example what happened today ,, a month or little more ago ,, we used to see the gbp aud and euro moving together
You know that is one of the reasons I jumped back in the AUD/USD as its movements paralleled the GBP/USD, but a few weeks back the GBP sunk and the AUD rose, and of course I was averaging and ended up taking a significant hit to my account....I actually stopped trading the news a while back, I did pretty well popping a few pips here and there, but figured it was only a matter of time before it hurt me so learned to sit them out, until yesterday cocky and struggling, it handed me my ass...thanks to all for the advice.
Never been vouched
  • #6,517
  • Oct 13, 2009 7:36pm Oct 13, 2009 7:36pm
Quoting WestAus
Morning Ben (i have the same name btw), just wondering what broker/platform you and others here use to trade Forex and if you also use a seperate charting programme?
morning WestAust, i use oanda and ig markets for bet real stuff and net dania for playing around charting
  • #6,518
  • Oct 13, 2009 7:39pm Oct 13, 2009 7:39pm
Quoting WestAus
Morning Ben (i have the same name btw), just wondering what broker/platform you and others here use to trade Forex and if you also use a seperate charting programme?
stick to the system or indicator you are familiar with, me think any system will work but the naked chart is the pack leader (dog whisper)

if not workout make it work, any question?
  • #6,519
  • Oct 13, 2009 7:47pm Oct 13, 2009 7:47pm
ready to add more long to the aud/nzd cross but the chart say ... we are not yet there Kevin adding to losing position blindly ? i dont think so!

http://img37.imagefra.me/img/img37/2...bm_bf4fc16.png
  • #6,520
  • Oct 13, 2009 8:00pm Oct 13, 2009 8:00pm
serious scalping last nite, will reapeat it tonite hopefully

http://img01.imagefra.me/img/img01/2...cm_fe2454d.png
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