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AUD/USD

  • #11,041
  • Dec 7, 2009 4:45pm Dec 7, 2009 4:45pm
Quoting WallStBully
i hate forex factory,...im never reading this shit again.
Did you get an invitation to read this thread :-)

Good riddance!!
  • #11,042
  • Dec 7, 2009 4:52pm Dec 7, 2009 4:52pm
Bully, how about not writing such shit again.
Mate, this is actually funny shit. You can have a laugh or two. Believe it or not there are even bigger plonkers than yourself.
forget about tomorrow, just steal away into the night
  • #11,043
  • Dec 7, 2009 5:10pm Dec 7, 2009 5:10pm
A couple of thoughts; head-shoulders on the daily, and a descending trendline (red diagonal).
Maybe we could enter short before the "classic textbook entry", that is, break of the neckline of the h-s pattern?

Former daily lows (shown by arrow) coincide with 61.8 fib level of the "last sweep" - a good resistance candidate, and it's a reverse U shape, called a bucket pattern - I'd sell short somewhere around / above the 61.8 fib, let's say anywhere in the blue square, stop above the red horz. line (former tops), TP: green line, couple of pips above the round level 0.9000.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 61 KB
forget about tomorrow, just steal away into the night
  • #11,044
  • Dec 7, 2009 5:15pm Dec 7, 2009 5:15pm
Quoting spekitox
A couple of thoughts; head-shoulders on the daily, and a descending trendline (red diagonal).
Maybe we could enter short before the "classic textbook entry", that is, break of the neckline of the h-s pattern?

Former daily lows (shown by arrow) coincide with 61.8 fib level of the "last sweep" - a good resistance candidate, and it's a reverse U shape, called a bucket pattern - I'd sell short somewhere around / above the 61.8 fib, let's say anywhere in the blue square,...

I already had this conversation with Sinner.....http://www.forexfactory.com/showpost...ostcount=10571

It's not a "classic" H&S formation but it sure looks like it's going to signal a deep retracement.

I don't think your red descending TL is valid also. A previous swing high at 9275 was violated and price bounced off the resistance at 9320. This is not a channel, therefore not a viable trend line.
"Timing Is Everything. Really I Swear It Is"
  • #11,045
  • Dec 7, 2009 5:30pm Dec 7, 2009 5:30pm
Indeed, many days ago you spotted that thingy.
What remains is the bucket lows and coincidence of the 61.8 fibs. They have been kind to me in the past. We'll see if it goes back up to the 9270-s, I'd still try to go short around 9220, the fib, I mean.

What matters is, you're not bullish either. If I pick the right direction, my chances of making a profitable trade are much better, right?
forget about tomorrow, just steal away into the night
  • #11,046
  • Dec 7, 2009 5:41pm Dec 7, 2009 5:41pm
Quoting spekitox
A couple of thoughts; head-shoulders on the daily, and a descending trendline (red diagonal).
Maybe we could enter short before the "classic textbook entry", that is, break of the neckline of the h-s pattern?

Former daily lows (shown by arrow) coincide with 61.8 fib level of the "last sweep" - a good resistance candidate, and it's a reverse U shape, called a bucket pattern - I'd sell short somewhere around / above the 61.8 fib, let's say anywhere in the blue square,...
thanks for the chart Spekitox ! and here is my short term view

http://img02.imagefra.me/img/img02/1...bm_e112aaa.png
  • #11,047
  • Dec 7, 2009 5:45pm Dec 7, 2009 5:45pm
time to close up the long position for me. I cant see much above 9158, and 9164 at the moment. Might wait for next entry.. Anybody with me there?
Find a job that you love and you dont have to work again in your life.
  • #11,048
  • Dec 7, 2009 5:53pm Dec 7, 2009 5:53pm
Quoting arno
http://img98.imageshack.us/i/aduf.jpg/

http://img98.imageshack.us/i/aduf.jpg/

http://img98.imageshack.us/img98/9742/aduf.jpg http://img98.imageshack.us/img98/aduf.jpg/1/w640.png
thanks! so you use the fibo as the target and stop loss level, i had read few month ago how to use the fibo by skunny and Bobokus

http://www.forexfactory.com/showthre...t=60272&page=5
  • #11,049
  • Dec 7, 2009 6:01pm Dec 7, 2009 6:01pm
Quoting tradoholic
time to close up the long position for me. I cant see much above 9158, and 9164 at the moment. Might wait for next entry.. Anybody with me there?
good on you mate , its choppy here on hourly chart since the third leg down was complete and usually range will occure after three down step.
  • #11,050
  • Dec 7, 2009 6:06pm Dec 7, 2009 6:06pm
Quoting ben10
good on you mate , its choppy here on hourly chart since the third leg down was complete and usually range will occure after three down step.
Thanks mate!
I work with 1,5 and 15min and get my entries and exits from 144 and 440 ticks. Getting a short signal on the 1min, but will wait now for confirmation
Find a job that you love and you dont have to work again in your life.
  • #11,051
  • Dec 7, 2009 6:13pm Dec 7, 2009 6:13pm
Here mate my plan as scalping was good when the price in ranging mode so the the losses also could be minimise

http://img40.imagefra.me/img/img40/1...qm_37a5d7f.png
  • #11,052
  • Dec 7, 2009 6:18pm Dec 7, 2009 6:18pm
Quoting ben10
Here mate my plan as scalping was good when the price in ranging mode so the the losses also could be minimise
You are right, its a good sculping range between 9158 and 9140 at the moment. I have to take my dahghter out shopping, so see you when I get back with a lighter wallet.....
Find a job that you love and you dont have to work again in your life.
  • #11,053
  • Dec 7, 2009 6:22pm Dec 7, 2009 6:22pm
Quoting spekitox
Indeed, many days ago you spotted that thingy.
What remains is the bucket lows and coincidence of the 61.8 fibs. They have been kind to me in the past. We'll see if it goes back up to the 9270-s, I'd still try to go short around 9220, the fib, I mean.

What matters is, you're not bullish either. If I pick the right direction, my chances of making a profitable trade are much better, right?

No Sir. I am a bear, grrrrr. The daily hammer is kind of scary though. It filled the gap from last week and bounced.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie.gif Size: 22 KB
"Timing Is Everything. Really I Swear It Is"
  • #11,054
  • Dec 7, 2009 6:32pm Dec 7, 2009 6:32pm
Quoting TexasforEX
No Sir. I am a bear, grrrrr. The daily hammer is kind of scary though. It filled the gap from last week and bounced.
I bought a few cheap OTM 9225 calls this morning to expire at end of NY tonight.

NAB business confidence up 3 points, current account about half a billion better than expected. I wanna cash those calls in, in the money.
  • #11,055
  • Dec 7, 2009 7:11pm Dec 7, 2009 7:11pm
very tied range for the aussie but eur/yen was good play fo scalp
  • #11,056
  • Dec 7, 2009 7:29pm Dec 7, 2009 7:29pm
watchout yen on the move, you may short the aud/yen too

http://img40.imagefra.me/img/img40/1...fm_6cb4a30.png
  • #11,057
  • Dec 7, 2009 7:48pm Dec 7, 2009 7:48pm
as the move of the aud/usd is different to aud/yen .... its good to see what the usd/yen exhibit on the chart... expect the usd falling against the yen

http://img37.imagefra.me/img/img37/1...6m_673c474.png

control your exposure as we want you to stay in the game
  • #11,058
  • Dec 7, 2009 7:55pm Dec 7, 2009 7:55pm
trade when you feel like it and not to follow the sh!t me writing or others, as its your sweat and blood, scalp 1 week pay if you like but only if you are comfy with it and the probability of winning is almost certain, its your call ... time spent learning is never lost.

Cheers and be nice to eachother, keep the positivity flow and i think i fcuk the yen crosses today. im out here and see you are all tonite CIAO!
  • #11,059
  • Dec 7, 2009 9:19pm Dec 7, 2009 9:19pm
is it a long day today?
Success consists of going from failure to failure without loss of enthusiam
  • #11,060
  • Dec 7, 2009 9:27pm Dec 7, 2009 9:27pm
I got caught on a long just hoping to pick up enough pips to minimize the damage
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