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AUD/USD

  • #13,021
  • Jan 11, 2010 9:17pm Jan 11, 2010 9:17pm
Looks like back up 85 pips here into 9321 and possibly even 9352 (secondary weekly highs). I think shorts are still the way to go for the medium term though.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 18 KB
  • #13,022
  • Jan 11, 2010 9:30pm Jan 11, 2010 9:30pm
However below 1.4480 the euro looks weak to me, which should put some pressure on the usd to rise and the aud to fall as a result.
  • #13,023
  • Jan 11, 2010 9:40pm Jan 11, 2010 9:40pm
Cmon............ down we go!!
  • #13,024
  • Jan 11, 2010 9:42pm Jan 11, 2010 9:42pm
Hi Daytrader74 and puks,
Puks take a look at Daytrader74’s chart about 4 or 5 posts back and you’ll see about 45 pips gap in his chart. That is exactly as my chart looks.
My broker closes 9am Saturday morning Sydney time and opens 9am Monday morning Sydney time and the gap from Saturday to Monday, at my broker, was 45pips.
How do I know…8:55am Saturday I placed a buystop 5 pips above the price and placed a sellstop 5pips below the price. I also had an open buy about 15pips above the price.
One second after 9am, I had made approx 100pips profit. The open buy had hit my TP. The buystop didn’t have a TP so I closed the buy and opened a sell to make profit when the gap was closed, which just happened a few minutes ago.
I don’t care whether you believe in gaps or not…they make me good profits nearly every weekend.
If there are no gaps, how did I make a profit?
Peter-FX
  • #13,025
  • Jan 11, 2010 9:44pm Jan 11, 2010 9:44pm
Quoting amyc
However below 1.4480 the euro looks weak to me, which should put some pressure on the usd to rise and the aud to fall as a result.
Agree with you there. Dont you think it will push up to 1.4510 before turning south? But if turn south now then time to get out of longs n AUD. Good point..... Thanks
Find a job that you love and you dont have to work again in your life.
  • #13,026
  • Jan 11, 2010 9:49pm Jan 11, 2010 9:49pm
Quoting Peter-FX
Hi Daytrader74 and puks,
Puks take a look at Daytrader74’s chart about 4 or 5 posts back and you’ll see about 45 pips gap in his chart. That is exactly as my chart looks.
My broker closes 9am Saturday morning Sydney time and opens 9am Monday morning Sydney time and the gap from Saturday to Monday, at my broker, was 45pips.
[size=3][font=Times New Roman]How do I know…8:55am Saturday I placed a buystop 5 pips above the...
Yes I also have learnt / seen / heard// experienced that there is a very high probability that Gaps will fill in the fairly short term, wether it be stocks or fx.

cheers everyone involved in this constructive discussion
  • #13,027
  • Jan 11, 2010 9:53pm Jan 11, 2010 9:53pm
Quoting shoeysfish
Cmon............ down we go!!
Up we go
  • #13,028
  • Jan 11, 2010 9:55pm Jan 11, 2010 9:55pm
Quoting tradoholic
Agree with you there. Dont you think it will push up to 1.4510 before turning south? But if turn south now then time to get out of longs n AUD. Good point..... Thanks
It may move up some more as it wouldn't suprise me to see the usd move back into 77.1 before heading up, but if it wants to go down then the charts below show an ideal setup for another 85 pips down. I am not trading the move just holding shorts from yesterday.

Also the S&P looks weak to me but not sure if that counts these days as it doesn't always move with the USD crosses anymore.
Attached Image
  • #13,029
  • Jan 11, 2010 9:56pm Jan 11, 2010 9:56pm
Quoting Daytrader74
Up we go
Aaaaahhh, dont say that LOL
  • #13,030
  • Jan 11, 2010 10:15pm Jan 11, 2010 10:15pm
Quoting amyc
It may move up some more as it wouldn't suprise me to see the usd move back into 77.1 before heading up, but if it wants to go down then the charts below show an ideal setup for another 85 pips down. I am not trading the move just holding shorts from yesterday.

Also the S&P looks weak to me but not sure if that counts these days as it doesn't always move with the USD crosses anymore.
I went short on Euro 1.4485. As someone says, "Lets shake that Money Tree".........
Find a job that you love and you dont have to work again in your life.
  • #13,031
  • Jan 11, 2010 10:20pm Jan 11, 2010 10:20pm
Quoting tradoholic
I went short on Euro 1.4485. As someone says, "Lets shake that Money Tree".........
Yeah shake that money tree for Dady
  • #13,032
  • Jan 11, 2010 10:24pm Jan 11, 2010 10:24pm
Quoting Daytrader74
Yeah shake that money tree for Dady
I'm shakin the right way and the notes are a droppin
  • #13,033
  • Jan 11, 2010 10:27pm Jan 11, 2010 10:27pm
You need to understand the core structure of how FX market works. Retail FX providers such as FXCM, Alpari UK, FXDD, etc get their price feed from Banks (Liquidity providers) and Banks transact at Interbank level via Reuters and/or EBS through BIS.

When retail market opens, your broker gets the feed provided to him by the bank he's associated with.

If your broker gives you a price of .9245 (when he's getting .9285 from bank level), obviously he's going to lose money so upon opening the market, he immediately gives you .9285.

Your charts, etc dont get updated and show it as a "Gap".

Definition of gap is nothing but a price movement at interbank level before the retail FX market opens for trading.

Why do you think the spreads are widened at the time of major news release? Please dont tell me its your broker manipulation!!!!

Good luck with your gap trading but as you may have read on EURUSD forum, sometimes gap takes a week or month(s) to fill.

All the best.

I am not posting anything more on gaps. For those who are interested in how this market works, there are some great posts on this forum under retail brokers.







Quoting Peter-FX
Hi Daytrader74 and puks,
Puks take a look at Daytrader74’s chart about 4 or 5 posts back and you’ll see about 45 pips gap in his chart. That is exactly as my chart looks.
My broker closes 9am Saturday morning Sydney time and opens 9am Monday morning Sydney time and the gap from Saturday to Monday, at my broker, was 45pips.
[size=3][font=Times New Roman]How do I know…8:55am Saturday I placed a buystop 5 pips above the...
  • #13,034
  • Jan 11, 2010 10:28pm Jan 11, 2010 10:28pm
Quoting shoeysfish
I'm shakin the right way and the notes are a droppin
keep shaking it for Dady
  • #13,035
  • Jan 11, 2010 10:37pm Jan 11, 2010 10:37pm
Thanks puks, that’s why I put the buystop and sellstop in Saturday morning.
Peter-FX
  • #13,036
  • Jan 11, 2010 10:38pm Jan 11, 2010 10:38pm
just closed my long, ill open a short before Europe open. i think the stoke market will open low today which will bring Aud down
  • #13,037
  • Jan 11, 2010 10:42pm Jan 11, 2010 10:42pm
TP on AUD reached. Exiting all longs on AUD. Keeping my shorts on EU/USD, going out now, see you all in Euro session.
Find a job that you love and you dont have to work again in your life.
  • #13,038
  • Jan 12, 2010 12:34am Jan 12, 2010 12:34am
Damn, shake that money tree really hard for Dady now
  • #13,039
  • Jan 12, 2010 1:50am Jan 12, 2010 1:50am
Quoting amyc
It may move up some more as it wouldn't suprise me to see the usd move back into 77.1 before heading up, but if it wants to go down then the charts below show an ideal setup for another 85 pips down. I am not trading the move just holding shorts from yesterday.

Also the S&P looks weak to me but not sure if that counts these days as it doesn't always move with the USD crosses anymore.
77.1 reached on the usdx, it needs to start moving up from here and the euro moving down to keep shorts in usd crosses in play.
  • #13,040
  • Jan 12, 2010 3:14am Jan 12, 2010 3:14am
i think its about time to long again in 15-30mins, looking for a low position
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