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AUD/USD

  • #12,781
  • Jan 7, 2010 2:59am Jan 7, 2010 2:59am
AU forming nice pin bar on daily. top could be here.
  • #12,782
  • Jan 7, 2010 3:02am Jan 7, 2010 3:02am
What's the reaon for the 30+ pip drop for this pair in the past ten mins or so?
  • #12,783
  • Jan 7, 2010 3:30am Jan 7, 2010 3:30am
AUD/USD: Despite the latest sharp rebound to 0.9270, we retain a strong bearish bias and look for the market to roll over at current levels, in favor of eventual downside acceleration below 0.8735 over the coming days. A major head & shoulders topping pattern was triggered back in mid-December that projects weakness into the 0.8400’s, and only back above 0.9410 would negate our outlook and give reason for pause. Thursday’s failure by 0.9270 coincides with the 78.6% fib retrace off of the 0.9410-0.8735 move and offers itself as a formidable spot for a bearish reversal.
  • #12,784
  • Jan 7, 2010 3:46am Jan 7, 2010 3:46am
crazy night so far, indecisive market. as i look around at the other pairs, the aud is the only currency that has had much strength at all against the usd. many aud pairs are in a very steep aud-long position. for example, the eur/aud is testing down tl now. gbp/aud made new all-time low. i think this is too much. i'm thinking aud is going to break soon, and break very bearish.
  • #12,785
  • Jan 7, 2010 3:52am Jan 7, 2010 3:52am
nice H/S on M15 for possible short below intraday pivot .9181
  • #12,786
  • Jan 7, 2010 4:20am Jan 7, 2010 4:20am
Quoting francis2
nice H/S on M15 for possible short below intraday pivot .9181
Sorry for my ignorance, but what is a H/S?

cheers
  • #12,787
  • Jan 7, 2010 4:22am Jan 7, 2010 4:22am
Quoting shoeysfish
Sorry for my ignorance, but what is a H/S?

cheers
Head/ Shoulders..........yes i worked it out
  • #12,788
  • Edited 4:44am Jan 7, 2010 4:40am | Edited 4:44am
Quoting shoeysfish
Sorry for my ignorance, but what is a H/S?

cheers
That would mean it's like a H/S/K&T except without the knees & toes. Glad you worked it out, I couldn't!

Happy trading, pip pip!
  • #12,789
  • Jan 7, 2010 4:47am Jan 7, 2010 4:47am
Quoting LadyPenelope
That would mean it's like a H/S/K&T except without the knees & toes. Glad you worked it out, I couldn't!

LOL

Yes some of this jargon can be quite confusing
  • #12,790
  • Jan 7, 2010 4:49am Jan 7, 2010 4:49am
Quoting Clouds
crazy night so far, indecisive market. as i look around at the other pairs, the aud is the only currency that has had much strength at all against the usd. many aud pairs are in a very steep aud-long position. for example, the eur/aud is testing down tl now. gbp/aud made new all-time low. i think this is too much. i'm thinking aud is going to break soon, and break very bearish.

but so far the usd is strengthening against aud since the least spike...
  • #12,791
  • Jan 7, 2010 6:18am Jan 7, 2010 6:18am
Quoting TheTopBloke
I don't carry it, I move it my man.

I think you contradict yourself there. The rally may be on fumes, but what about that 0% borrowing?
How's that again?

If I am Goldman Sachs/Citi/JP Morgan dealing desk I can see all the orders, stops, position density, everything.

Govvie has given my 5 boss hojillion dollars for free, he has given me a couple of hundred mio leveraged and said "make that yield differential work"....so I sit...patiently, for the days that retail piles short. Buy lots of contracts near the NY close. Next day opens up, smart money in Tokyo/Sydney sees the supply/demand shift and covers their shorts into the first down bar they see. Suddenly market rockets up and everyone wonders "why does Tokyo always retrace"...stops get hit, retail shorts cover en masse right in time for the London fix. I get paid a lot of money dollars for holding a few thousand contracts of A/U long till the fix and then I sell into the short covering.

Market ranges until NY open. Repeat.
  • #12,792
  • Jan 7, 2010 6:28am Jan 7, 2010 6:28am
Shake that money tree for Dady
  • #12,793
  • Jan 7, 2010 6:29am Jan 7, 2010 6:29am
I just closed the 1st short on Aussie with +65 pips, SL to B/E for the 2nd one.we have some serious S at the current level.
Attached Image (click to enlarge)
Click to Enlarge Name: aud1.gif Size: 16 KB
  • #12,794
  • Jan 7, 2010 6:35am Jan 7, 2010 6:35am
Quoting Daytrader74
Shake that money tree for Dady
Are you short? TP?
  • #12,795
  • Jan 7, 2010 6:40am Jan 7, 2010 6:40am
Quoting oztrader1
Are you short? TP?
long TP 0.92
  • #12,796
  • Jan 7, 2010 6:47am Jan 7, 2010 6:47am
Quoting Daytrader74
long TP 0.92
Are you anticipating worse than expected US data or are you trading purely on technicals?
  • #12,797
  • Jan 7, 2010 6:49am Jan 7, 2010 6:49am
Quoting oztrader1
Are you anticipating worse than expected US data or are you trading purely on technicals?
I don't trade the news , I trade on technicals
  • #12,798
  • Jan 7, 2010 7:11am Jan 7, 2010 7:11am
Quoting Daytrader74
I don't trade the news , I trade on technicals
Hi Daytrader,
I just closed my short from this morning (92.35) at 9165. But am worried about the next wave. It could be that 9270 was the high and now its on its way down to touch the lower low from december. So just for now I think I will take my profits for the day and sit on the sidelines and see what direction the market will take next. Good luck anyway.... Keep shaking that money tree......
Find a job that you love and you dont have to work again in your life.
  • #12,799
  • Jan 7, 2010 7:12am Jan 7, 2010 7:12am
Quoting tradoholic
Hi Daytrader,
I just closed my short from this morning (92.35) at 9165. But am worried about the next wave. It could be that 9270 was the high and now its on its way down to touch the lower low from december. So just for now I think I will take my profits for the day and sit on the sidelines and see what direction the market will take next. Good luck anyway.... Keep shaking that money tree......
Well done on your trade, I'm always shaking that money tree
  • #12,800
  • Jan 7, 2010 7:24am Jan 7, 2010 7:24am
Yeah baby lets go shake that money tree for dady
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