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AUD/USD

  • #12,021
  • Dec 20, 2009 5:41pm Dec 20, 2009 5:41pm
Quoting TexasforEX
Howdy aussie traders.

I just got out of my short @ .8890 at BE. Wanted to reduce some risk going into the thin week. A little move higher is possible from here. Thin markets are scary
Hey TexasforEX,
Is there a program or a website where you can see the Forex market depth or buy and sell orders that are awating excution?
  • #12,022
  • Dec 20, 2009 6:14pm Dec 20, 2009 6:14pm
Quoting Daytrader74
Hey TexasforEX,
Is there a program or a website where you can see the Forex market depth or buy and sell orders that are awating excution?
if you using MT5, yes you can see market depth
  • #12,023
  • Dec 20, 2009 6:23pm Dec 20, 2009 6:23pm
Quoting arno
if you using MT5, yes you can see market depth
Thanks Arno, I'm using MT4 so I'll download MT5 now.
  • #12,024
  • Dec 20, 2009 6:28pm Dec 20, 2009 6:28pm
Quoting Daytrader74
Hey TexasforEX,
Is there a program or a website where you can see the Forex market depth or buy and sell orders that are awating excution?
DT I don't use volume analysis at all. I know that some orders are just bait. It's an old trick that is used to trap retail traders. Some traders do quite well using volume analysis but it's not as simple as just spotting pending orders and trading off them.
"Timing Is Everything. Really I Swear It Is"
  • #12,025
  • Dec 20, 2009 6:35pm Dec 20, 2009 6:35pm
Quoting Daytrader74
Hey TexasforEX,
Is there a program or a website where you can see the Forex market depth or buy and sell orders that are awating excution?

there is a dude here at FF that is always carrying on about volume analysis. He is over at the cable thread quite a bit. Personally, I don't bother with any of his posts about volume analysis. His name is malcomb14 I think.
"Timing Is Everything. Really I Swear It Is"
  • #12,026
  • Dec 20, 2009 7:02pm Dec 20, 2009 7:02pm
Quoting arno
if you using MT5, yes you can see market depth
Hi, can you hedge in MT5? I heard you cant but I'm not sure if it's true.
  • #12,027
  • Dec 20, 2009 7:08pm Dec 20, 2009 7:08pm
Still short favors, I think there is a nice opportunity on NZDUSD ,the triangle pattern should breakout into the downside sooner or later
AUDUSD is bearish as far as R at .9200 holds
NZDUSD is bearish as far as R at .7300 holds
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 13 KB
Click to Enlarge Name: nzdusd.gif Size: 13 KB
  • #12,028
  • Dec 20, 2009 7:15pm Dec 20, 2009 7:15pm
Quoting TexasforEX
Howdy aussie traders.

I just got out of my short @ .8890 at BE. Wanted to reduce some risk going into the thin week. A little move higher is possible from here. Thin markets are scary

Re entered into third short @.8885, stop for this one only at .8925. Previous resistance around .8915 is being shown strong respect. God I hate Mondays.
"Timing Is Everything. Really I Swear It Is"
  • #12,029
  • Dec 20, 2009 7:23pm Dec 20, 2009 7:23pm
Quoting TexasforEX
Re entered into third short @.8885, stop for this one only at .8925. Previous resistance around .8915 is being shown strong respect. God I hate Mondays.
Hi TexasforEX,
I had shorts from .9160 and I wanted to add more shorts in retracement but it seems we wont see any retracement any time soon, I just added .8897
  • #12,030
  • Dec 20, 2009 7:33pm Dec 20, 2009 7:33pm
Aud daily and 4 hr charts. Targeting 8783 and then 8744.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 22 KB
  • #12,031
  • Edited 8:15pm Dec 20, 2009 7:33pm | Edited 8:15pm
Quoting shahab8b
Hi TexasforEX,
I had shorts from .9160 and I wanted to add more shorts in retracement but it seems we wont see any retracement any time soon, I just added .8897

Hey shahab,
I know we're both big ole bears on the aussie and it's looking good. This week scares me. Thin markets can be just punishing . I do like the way PA is respecting the .8915 area. If this previous support turns into a wall of resistance we could be looking at sharp run where all the bottom pickers will be punished . It's good to be on the winning side of trades coz losing sucks.

Best of luck to us both.

Kim, I am not calling anyone on this thread anything negative. I was speaking in general terms. The commitment of traders report has most large speculators long this pair.

http://www.forexrazor.com/analysis/c...f-traders.aspx
"Timing Is Everything. Really I Swear It Is"
  • #12,032
  • Dec 20, 2009 8:02pm Dec 20, 2009 8:02pm
I don't think anyone on this thread is a top or bottom picker, I for one just try and trade what I see, which was a possible move up, although I was counting on more than 30 pips before the down move. But I took it and am out. I hate Mondays too, always seem to go contrary to the night before.

Anyway, happy pipping people.

See you tomorrow.


Kim
  • #12,033
  • Dec 20, 2009 8:21pm Dec 20, 2009 8:21pm
Quoting TexasforEX
DT I don't use volume analysis at all. I know that some orders are just bait. It's an old trick that is used to trap retail traders. Some traders do quite well using volume analysis but it's not as simple as just spotting pending orders and trading off them.
Thanks for you feedback TexasforEX
  • #12,034
  • Dec 20, 2009 8:39pm Dec 20, 2009 8:39pm
AUD/USD: Eases below Cloud-Base As USD Attains A Bid Tone Sydney, December 21: Cross currency action dominated trading in very early Asia, but that has given way to broad USD strength as the market thickens up. The AUD/USD traded up to 0.8939 earlier on when stops were triggered above 0.8920, but the price reversed and briefly below the base of the daily ichimoku cloud - which comes in at 0.8893 today - to a low of 0.8885. The next level of support is found at the 100-day MA at 0.8860 and there is talk of very good buying between 0.8810/40.
  • #12,035
  • Dec 20, 2009 8:45pm Dec 20, 2009 8:45pm
Preference: Long positions above 0.884 with targets @ 0.891 & 0.8965 in extension.

Alternative scenario: Below 0.884 look for further downside with 0.881 & 0.8775 as targets.

Comment: the RSI is mixed and calls for caution.

Key levels
0.9025
0.8965
0.891
0.89 last
0.884
0.881
0.8775
Attached Image
  • #12,036
  • Dec 20, 2009 9:31pm Dec 20, 2009 9:31pm
what i am looking at....If the dollar index can hold and bounce off 78.00-04 area then things look good for bears when europe comes on board, if not and it goes through then we should probably retrace back to the 9000ish area before selling down.
  • #12,037
  • Dec 20, 2009 9:53pm Dec 20, 2009 9:53pm
USDX, I believe this will shape what the early part of this week will look like. if 77.98 fails then dx will head down and aud and euro will be up into resistance, and a sell down later this week.
this could all be null and void if the market doesn't conform to ususal patterns due to thin volumes. This is my first december trading currencies so not sure if the usual patterns will apply.
Attached Image (click to enlarge)
Click to Enlarge Name: usd.GIF Size: 16 KB
  • #12,038
  • Dec 20, 2009 10:56pm Dec 20, 2009 10:56pm
Shake that money tree for dady
  • #12,039
  • Dec 20, 2009 11:12pm Dec 20, 2009 11:12pm
Who's short ?
  • #12,040
  • Dec 20, 2009 11:17pm Dec 20, 2009 11:17pm
I am!
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