AUD/USD

Hm...I am not sure about short.This pair has all conditions to grow higher.We can see 9360 too.But anyway there is possibility to move south but to 9200-9220. Trade balance of us showd that it is early to talk about strong dollar.Us is weak. No rate growing till december.

aud/usd not falling as much as aud/yen thats indicate usd/yen will weaken i think

Ewww, what a mess. Just got back to see the damage.

I didn't say why I was buying gold in the high $1,104's this morning which is naughty of me really. At the time I bought it had support from my 34 EMA on my 4 hour chart and RSI had bottomed and was heading up on 1 hour. I set T/P on all but one position at $1,109.50 which was the resistance on my 34 EMA on my 1 hour chart (at the time) and daily pivot was also $1,109.62. First time I have whacked pivots on a gold chart to be honest. I left one position without a T/P in case it carried on up. I'm not a great technical trader but the above were my reasons.

Daily Market Strategy attached. Have a good weekend everyone.

AAAAAAAA!!!Time to attack!!!!! Worriors stay at 9305!!!We are going to 9270!

god like the brave one

nice

ok guys / girls im out of here and have a really good weekend !

Patience thanks for the file i'll read it before i go to bed, CIAO!

You too!

As i said,i just falow my strategy and good for 50 pips...


Open trade at 0.9285 TP 0.9335 (HIT) SL 0.9235



Cheers

Thanks for the File. It seems you made good money on Gold trades,
I still have mine open, just moved SL to B/E at $1,104, it made + 100 pips so far

Nice one Wish I had your patience today. I didn't make much yesterday so I wanted to put some money in the bank today. Could have got back in after the drop this afternoon when I got home but couldn't work out which way the market was going to go and had to go out again. Could have kicked myself when I got home and saw the charts.

So your broker moves in increments of one pip for every 10 pips in gold? I think that's what my account at FXSol does although I haven't traded that account since opening my Oanda one. Oanda is every pip with gold. Got a real fright when I placed my first gold trade with Oanda and then realised that it did this I was quick to reduce my position sizes after that! A $20.00 move in a day when you are on the wrong side and you are looking at a 2,000 pip drawdown Thankfully that hasn't happened yet. What's the spread with your broker? Oanda's spread is usually 34 pips.

Bit of a funny week. Only 175 pip range on AUD. Have a good weekend.

My broker gives 100 pips as well for one $ in Gold, but I use to look at them as my mental pips!! it gives variable speard ,usually 50 pips .I used 0.4 lot size for this trade which from 1,104 to 1,118 gives me $560 , I didnt close this trade , just SL>B/E now. today wasnt great for me, I went short AUDUSD and then I re-enter Long when I saw it heading up, I took 48 pips profite on my Long and closed it but I let my short had a -62 pips at NY close. Now I hope for a resistance at the top, I put a pending Buy Stop Order above top at last minute to stop bleeding from this short one if Aussie breaks into new high again early next week.

Nice profit Have you got any particular target in mind? I've just been reading some article about tungsten gold bars - lol - you can't even trust that a gold bar is a gold bar these days. What next?

I know what you mean about yesterday's PA. When I got back and saw the charts in the afternoon, it looked a mess and due to the fact that AUD hadn't done anything near it's average weekly range, it could have gone either way. The fact that the Confidence Survey recorded another drop, the typical reaction would have been risk aversion/US$ strength but it was not to be.

There must be some big boys with some big profits on their books considering the rally we have had and surely, at some stage before year end, some of them are gonna wanna take some of that profit off the table.

Here's a report that just gives a review of the market for the week.

Hey guys, I just started following this thread and will also try to help to find high probability trades so we can pip it, pip it good. Here is a portion from forex.com week ahead outlook:

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November 15, 2009

Highlights
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Commentary
Brian Dolan, Chief Currency Strategist
Jacob Oubina, Currency Strategist

Risk assets and the USD are at a critical juncture

The risk rally extended gains this past week as optimism over the global recovery beat out concerns that rising unemployment may lead to continued sluggishness. The USD, meanwhile, finished out roughly in the middle of the week's range after testing near to its recent lows against the EUR and other currencies. The optimists took heart from G20 nations vowing to maintain stimulus efforts until a more solid recovery was underway, while the USD took a drubbing after the IMF told us what we already know, that the USD is being used as a funding currency. Unfortunately for the bulls, the G20's pledge was largely hollow, as fiscal stimulus efforts in many countries are mostly winding down and initiatives to extend them seem fiscally unavailable. The early week rally in risky assets faltered mid-week, but managed to stage a minor comeback on Friday. In the process, recent highs in the S&P 500 were briefly surpassed, but they held on a weekly closing basis. Similarly in FX, recent USD lows were tested and recent highs in other currencies were tested and briefly surpassed in some cases, only to see the USD recover into the end of the week.

The price moves set the stage for a potential 'double top' formation to develop in several key asset markets if risk assets see a further pullback next week. In the S&P 500, the Oct. high of 1101 was briefly surpassed this past week, but prices finished out below it for the day and week. Also of note is a major daily trendline from the all-time highs at 1507 way back in Oct. 2007, which comes in at 1103 as critical daily close resistance. In EUR/USD, the 1.5060/65 Oct. high was not breached and the subsequent pullback highlights that level as critical resistance. USD/CHF similarly made a double bottom at 1.0030/35. AUD/USD also looks to be making a double top in the 0.9330/50 area, though the upside looks more viable in Aussie. We may not yet know whether risk appetites will retreat next week, but we certainly know what price levels will signal another leg higher in the risky assets, down for the USD. We will be closely watching the levels outlined above for daily close breaks (5 pm EST is the daily close) as a signal that the risk rally is extending, and the USD is taking another dip lower. Until then, and in light of the cacophony of USD bearishness, extreme short-USD positioning, and what we think is still an overextended stock market rally, we prefer to be USD buyers on dips (against all but the JPY), using the levels above as relatively low-risk stop-out/reverse levels.

Nice article Quest. It shows that since noone knows where price will go it is best to have a plan to react to price instead of predicting it. I am long AUD/USD adding to positions on dips. To protect myself from a major commodity selloff I am also long USD/CAD on dips with smaller positions to stay net long AUD. When AUD dips I TP on my CAD positions and use the proceeds to add to my AUD positions.

Yes it is bullish time now.

morning guys !

morning, ben. jpy gdp coming out shortly.

ah thanks! thats why eur/yen moving up now, the scout is bleeding at 133.37 since last week

good morning everyone

i see the gold shooting higher right on the opn and the AUD traveled like 10 pips high
when i look to the 4 hour chart for gold , i would say it again , i dnt see the gold cuting throught the upper trend line of the Bullish channel that he is in ,, i see it might have a limited upside toward 1130 max before correction and consolidation on the medium term
and i dont see the aussie going up without the gold support althought when i look at its chart i see a fifth wave going up but i m little confussed with the gold chart not supporting it
i may say for now till i see what the equity market will give us of signals today that the upside of gold is limited to 1130 and the Aud may follow it with a range of 94 max , before a medium term consolidation in AUD 92-94 AND GOLD 1130-1100 maybe lower
but i wanna add that the 3 chart of gold AUD S&P r not giving me the exact same signal so i may look at things in a different way at the end of the day