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AUD/USD

  • #13,241
  • Jan 13, 2010 5:18am Jan 13, 2010 5:18am
okay, thanks guys. that explains. that sort of make sense. just trying to get them together. forex almost frec me out
  • #13,242
  • Jan 13, 2010 5:21am Jan 13, 2010 5:21am
Quoting LadyPenelope
Here's an analysis exercise for you.

Have a look at a bunch of USD and JPY pairs on 60min charts.

What's got more strength? The USD or the JPY?
Yes, it has everything to do with your question. Something's got some strength, and, in my experience, that's what you want to trade. That's where you are going to harvest your pips.
Happy trading, pip pip!
  • #13,243
  • Jan 13, 2010 5:43am Jan 13, 2010 5:43am
Quoting LadyPenelope
Yes, it has everything to do with your question. Something's got some strength, and, in my experience, that's what you want to trade. That's where you are going to harvest your pips.
so how do u normally tell which one got more strength? usd/jpy has stuck there for 3hrs moving with a range of 13pips. i cant tell at all. i know it may hard to answer but i appreciate your help! thank you.
  • #13,244
  • Jan 13, 2010 6:11am Jan 13, 2010 6:11am
Quoting hellboy
so how do u normally tell which one got more strength? usd/jpy has stuck there for 3hrs moving with a range of 13pips. i cant tell at all. i know it may hard to answer but i appreciate your help! thank you.
Take a stable of USD and JPY pairs (all the basics), look at the charts on the same timeframe and compare them over the same period of time.

You'll see either the USD pairs are moving more, or the JPY pairs, or neither. This will give you an idea of what you're working with in terms of momentum and range. If you look at e.g. 15 min candles over a 24-hour period and mark the opens (Tokyo / London / New York) you can also get a picture of the day.
Happy trading, pip pip!
  • #13,245
  • Jan 13, 2010 6:12am Jan 13, 2010 6:12am
Yeah baby shake that money tree
  • #13,246
  • Jan 13, 2010 6:48am Jan 13, 2010 6:48am
Quoting Daytrader74
Yeah baby shake that money tree
U shaking it the wrong way bro.
I want it down baby, down!
  • #13,247
  • Jan 13, 2010 6:52am Jan 13, 2010 6:52am
Quoting GoldenGold
U shaking it the wrong way bro.
I want it down baby, down!
I shake it up I shake it down I shake it however I wanna shake it lol
  • #13,248
  • Jan 13, 2010 6:54am Jan 13, 2010 6:54am
Quoting Daytrader74
I shake it up I shake it down I shake it however I wanna shake it lol
Fine. Can you please shake it down before u shake it up? Come on. shake it shake it down. lol
  • #13,249
  • Jan 13, 2010 6:58am Jan 13, 2010 6:58am
Quoting GoldenGold
Fine. Can you please shake it down before u shake it up? Come on. shake it shake it down. lol
How much you pay and I shake it down for you ?
  • #13,250
  • Jan 13, 2010 6:58am Jan 13, 2010 6:58am
Quoting Daytrader74
I shake it up I shake it down I shake it however I wanna shake it lol
The boys in New York are about to get at it, so, I think there's only one thing to do ...

All together now

Inserted Video
Happy trading, pip pip!
  • #13,251
  • Jan 13, 2010 7:22am Jan 13, 2010 7:22am
Hello,

My new Swing trading >


This is the chart >
Attached Image (click to enlarge)
Click to Enlarge Name: audswing.gif Size: 15 KB
"Buy on fear, sell on greed !!!
  • #13,252
  • Jan 13, 2010 7:53am Jan 13, 2010 7:53am
Quoting Daytrader74
How much you pay and I shake it down for you ?
I'll buy you a coffee if you shake it down! lol
  • #13,253
  • Jan 13, 2010 8:30am Jan 13, 2010 8:30am
oh nice bearish formations on kiwi crosses and nzd/usd....lets hope for oil inventories to be oil negative and that should be the icing on the cake!!
  • #13,254
  • Jan 13, 2010 9:12am Jan 13, 2010 9:12am
if this downtrend can continue, there is a very strong H&S forming on the 4hr, which, if successful, should take the AUD down to approx. .8960, which would leave us at the 61% fib retracement from the low that started at .8739 and peaked at approx. .9325
  • #13,255
  • Jan 13, 2010 9:22am Jan 13, 2010 9:22am
ca ching
  • #13,256
  • Jan 13, 2010 9:31am Jan 13, 2010 9:31am
crude oilll..... 3.2 million vs expected 1.2 million....just a tad oil neg? lol
  • #13,257
  • Jan 13, 2010 3:21pm Jan 13, 2010 3:21pm
Hi All,

Does anyone have any thoughts on how or if gaps cause any sort of strong SL or RL's? Disregarding the discussion previously as to whether gaps do actually exist in FX trading, assume that they do exist pls. I am talking about after they have been previously filled.

cheers and regards
  • #13,258
  • Jan 13, 2010 4:10pm Jan 13, 2010 4:10pm
Hi shoeysfish,
I don’t think gaps perse have any effect on support or resistance levels, however, you will find that usually at the time your broker closes the price will be at a S/R level of some kind.
Keep in mind, as puks said there really are not any gaps in FX. The gaps are only in yours’ and hundreds of other broker’s feeds because of their time of closing and opening.
Peter-FX
  • #13,259
  • Jan 13, 2010 4:25pm Jan 13, 2010 4:25pm
Quoting Peter-FX
Hi shoeysfish,
I don’t think gaps perse have any effect on support or resistance levels, however, you will find that usually at the time your broker closes the price will be at a S/R level of some kind.
Keep in mind, as puks said there really are not any gaps in FX. The gaps are only in yours’ and hundreds of other broker’s feeds because of their time of closing and opening.
Peter-FX...
Hi Peter-FX,

Thankyou for the feedback, much appreciated. The input on the gap subject was very interesting. Puks, Daytrader, Tradoholic, Yourself & in her very humerous way, Lady Penelope really do input some very good constructive stuff to this forum, and all of everyone who contribute really do help us newbies along this very steep learning curve.

Getting my head around some of it, it is very interesting to read about the different tools that can be applied to FX, like astrological, weather etc etc
I think it will be quite some time before I can apply these tools with any sort of confidence.

Thankyou again
  • #13,260
  • Jan 13, 2010 4:34pm Jan 13, 2010 4:34pm
No probs shoeysfish, http://cdn.forexfactory.com/images/icons/icon14.gif
However, as a number of contributors have said “Read Your Charts”. The more you can understand what you see in your charts and interpret it correctly (well as correctly as one ever can) then the better trader you become.
Cheers
Peter-FX
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