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AUD/USD

  • #13,561
  • Jan 14, 2010 10:25pm Jan 14, 2010 10:25pm
Quoting shoeysfish
Thanks CrakO
Is that the basic chart only, and not the advanced?

cheers
Couldn't find anything blatantly obvious in advanced mode (weird huh?).

I don't use the advanced one too often though.
  • #13,562
  • Jan 14, 2010 10:26pm Jan 14, 2010 10:26pm
Quoting Clouds
While you think about it, here's my reasoning
http://www.forexfactory.com/showpost...&postcount=254


i take my hats off for u on this one... nice one cloud!

h4 and daily stochastic's have been at floor... might as well rise up from there today...
  • #13,563
  • Jan 14, 2010 10:28pm Jan 14, 2010 10:28pm
Quoting Clouds
Do you know if the percentage numbers mean much? I've heard they have an impact, just not sure about it. At around 1.02 I could see being long (short-term) , but then when it approaches 1.04 I could see retail traders shorting. Don't know.. I'm long-term long usd/cad, and retail traders are fickle and will change in a few days.
I only have sentiment readings going back to last Friday on the platform and 76% were long last Friday morning and it looks to have just increased most of this week. The readings have been $ bearish on all pairs as traders are long on the US$ across the board except for the EUR which just flippped last night to a long bias (and it tanked). 69% long on USD/CHF as well.

I would say a few of the USD/CAD traders are sweating at the moment so any recovery of USD/CAD and there will probably be a few exiting their positions.

I know some people poo poo these sentiment readings but I've been folllowing them for quite some time now and they are pretty flipping accurate.
Nothing worth having is easy.
  • #13,564
  • Jan 14, 2010 10:29pm Jan 14, 2010 10:29pm
Quoting crak0
Couldn't find anything blatantly obvious in advanced mode (weird huh?).

I don't use the advanced one too often though.
Yeh strange ay??

I only use the advanced because it has a few more features, but for the life of me I cannot seem to copy it, maybe they have good security over it. Tradoholic recently advised of downloading a programm called I think "cropper", I have not tried yet, will wait till tonight.

cheers
  • #13,565
  • Jan 14, 2010 10:31pm Jan 14, 2010 10:31pm
Quoting Patience
I only have sentiment readings going back to last Friday on the platform and 76% were long last Friday morning and it looks to have just increased most of this week. The readings have been $ bearish on all pairs as traders are long on the US$ across the board except for the EUR which just flippped last night to a long bias (and it tanked). 69% long on USD/CHF as well.

I would say a few of the USD/CAD traders are sweating at the moment so any recovery of USD/CAD and there will probably be a few exiting their positions.

I know some people poo...
Hi Patience,

where do you find these sentiment readings?

cheers
  • #13,566
  • Jan 14, 2010 10:34pm Jan 14, 2010 10:34pm
Shoeyfish,

I use very similar to what you do,

although i love the 2min, 15min and 1hour charts graft on the 15min and watch the 2min

But only been trading for a little over a year have done a paper grafting course which was helpful in understanding charts but time and experience is the key i think and starting small trades first, even though i am only trading in 2-5 contract size
  • #13,567
  • Jan 14, 2010 10:40pm Jan 14, 2010 10:40pm
Quoting shoeysfish
Hi Patience,

where do you find these sentiment readings?

cheers
Hi shoeysfish. The twice daily sentiment readings are only available on FXCM's trading platform although they do a weekly sentiment index on their website. I think Puks found something.

I have accounts at Oanda, FX Solutions (US), CMC Markets (UK) and FXCM (UK). I like to spread the risk. My favourite broker by far is Oanda though - been with them since September last year and wish I had opened an account with them years ago. Fabulous spreads and great execution and you have so much more control over your account as in being able to create sub-accounts etc and transfer money all over the place. CMC Markets has got to be the worst one I have traded with. I experienced spikes in prices that were not evident on other platforms and I only trade with them if I am desperate.
Nothing worth having is easy.
  • #13,568
  • Jan 14, 2010 10:43pm Jan 14, 2010 10:43pm
Quoting Patience
I have accounts at Oanda, FX Solutions (US), CMC Markets (UK) and FXCM (UK). I like to spread the risk.
Hi,
Could you elaborate on what do you mean by spread the risk? I guess there's always a risk using one broker, if they don't pay you. Is that what you mean?
  • #13,569
  • Jan 14, 2010 10:47pm Jan 14, 2010 10:47pm
Quoting Patience
Hi shoeysfish. The twice daily sentiment readings are only available on FXCM's trading platform although they do a weekly sentiment index on their website. I think Puks found something.

I have accounts at Oanda, FX Solutions (US), CMC Markets (UK) and FXCM (UK). I like to spread the risk. My favourite broker by far is Oanda though - been with them since September last year and wish I had opened an account with them years ago. Fabulous spreads and great execution and you have so much more control over your account as in being able to create sub-accounts...
Thankyou Patience,
I will definitely have a look at Oanda and FXCM.

regards
  • #13,570
  • Jan 14, 2010 10:48pm Jan 14, 2010 10:48pm
Quoting Clouds
Hi,
Could you elaborate on what do you mean by spread the risk? I guess there's always a risk using one broker, if they don't pay you. Is that what you mean?
Yep, I don't want all my money with one broker. I very rarely trade with FX Solutions anyway. Their spread on A/J is 7 pips whereas Oanda is usually 2.4 or so. I've been waiting for the big KABOOM those cable traders have been going on about since about July last year so I can change those US$ back into GBP (or even some other currency) and the bloody thing has gone back up again!! What a drag - lol
Nothing worth having is easy.
  • #13,571
  • Jan 14, 2010 10:52pm Jan 14, 2010 10:52pm
patience, what about ig markets?
  • #13,572
  • Jan 14, 2010 10:54pm Jan 14, 2010 10:54pm
Quoting Patience
Yep, I don't want all my money with one broker. I very rarely trade with FX Solutions anyway. Their spread on A/J is 7 pips whereas Oanda is usually 2.4 or so. I've been waiting for the big KABOOM those cable traders have been going on about since about July last year so I can change those US$ back into GBP (or even some other currency) and the bloody thing has gone back up again!! What a drag - lol
I couldn't agree more about CMC markets. They are the worst. I was with them in Australia and dont have anything positive to say about them.

For newbies, visit www.forexpeacearmy.com and read broker review beofre putting your money with them,

For my selection, I ususally look if the broker has an Australian Business Number, are ASIC registered and have AFSL licence.

In Australia, IGmarkets, FXCM Australia, Gomarkets, etc are good brokers.

Cheers
  • #13,573
  • Jan 14, 2010 10:56pm Jan 14, 2010 10:56pm
Quoting Blacknightz
patience, what about ig markets?
Don't know sorry. I haven't traded with them but there are quite a few threads on FF about different brokers that you could have a squiz at.
Nothing worth having is easy.
  • #13,574
  • Jan 14, 2010 11:01pm Jan 14, 2010 11:01pm
this looks good for aud shorts
Attached Image
  • #13,575
  • Jan 14, 2010 11:02pm Jan 14, 2010 11:02pm
anyone shorting here ?
  • #13,576
  • Jan 14, 2010 11:02pm Jan 14, 2010 11:02pm
I'm not fully convinced that this is the start of the bigger move down yet, it wouldn't suprise me to see prices head back up during europe session. Hope I'm wrong.
  • #13,577
  • Jan 14, 2010 11:03pm Jan 14, 2010 11:03pm
Quoting Jesus4748
anyone shorting here ?
i think we all are, bro
  • #13,578
  • Jan 14, 2010 11:11pm Jan 14, 2010 11:11pm
short squeeze currently taking place in aussie index futures, i fear that maybe our fate soon
  • #13,579
  • Jan 14, 2010 11:19pm Jan 14, 2010 11:19pm
Quoting Clouds
Hi,
Could you elaborate on what do you mean by spread the risk? I guess there's always a risk using one broker, if they don't pay you. Is that what you mean?
Clouds

Another reason to have more than one broker is to hedge your position(s) if a dealers platform goes down: not common in my experience, but FXCM and others have had problems lately and I've noticed GoMarkets (Saxobank white labelled) has had some recent glitches. Going back about 3 to 5 years I used this hedging with another broker several times but luckily was made good by IB on each occasion.

By-the-way, I enjoy your charts and thoughts on this thread Clouds.
  • #13,580
  • Jan 14, 2010 11:26pm Jan 14, 2010 11:26pm
Quoting TraderZer0
Clouds

Another reason to have more than one broker is to hedge your position(s) if a dealers platform goes down: not common in my experience, but FXCM and others have had problems lately and I've noticed GoMarkets (Saxobank white labelled) has had some recent glitches. Going back about 3 to 5 years I used this hedging with another broker several times but luckily was made good by IB on each occasion.

By-the-way, I enjoy your charts and thoughts on this thread Clouds.
Thanks. Useful information. I like AU, it's less volatile and more trendy then some other pairs.
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