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AUD/USD

  • #14,941
  • Feb 1, 2010 3:06am Feb 1, 2010 3:06am
you can definately tell there are more AUD bulls in the ring fighting this week and making the AUD bears life more difficult, as compared to last week, where the USD bulls just ran through everything and everybody.
  • #14,942
  • Feb 1, 2010 3:20am Feb 1, 2010 3:20am
Quoting TheTopBloke
Don't ask you why? Is it because you don't know why? If so, it sounds like you're hoping. Adding to that position may be 'managable', but why would you want to take more of a loss, just because you can afford to?
I feel that the AUD/USD is oversold in the short term.

Last Fridays USD advance GDP numbers was overbought. The truth is in the revision and that number will be revised downward (like last time). Much of it was due to increase in inventories. Great, but it don't mean a thing if they can't move those products which I do not think that they will.

Employment has to improve before that happens until then most of us here our saving instead of spending.
  • #14,943
  • Feb 1, 2010 3:23am Feb 1, 2010 3:23am
Quoting shahab8b
you are baised due to your Long position
Good point, and you are correct, initially I was. But the more I look at it the more comfortable I feel.

Admittedly I have much to learn but even though I am down at the moment I feel pretty good about my position.
  • #14,944
  • Feb 1, 2010 3:27am Feb 1, 2010 3:27am
Quoting GoldenGold
What???? You went away and expect everything to be fine without a SL?
Lessons learnt? No margin call?
Sorry to hear that man.
No margin call, I'm very lucky as that even though I'm down 450 pips its not a huge loss in $$ terms but yeah it was a last minute thing and its been a hectic week with my brother getting married...oh well I'm still OK I live to fight another day!
  • #14,945
  • Feb 1, 2010 3:56am Feb 1, 2010 3:56am
Quoting Daytrader74
I'm down 450 pips its not a huge loss in $$ terms
I wish I could say the same.


Quote
...oh well I'm still OK I live to fight another day!

I love your attitude!!!

  • #14,946
  • Feb 1, 2010 3:58am Feb 1, 2010 3:58am
Quoting Daytrader74
No margin call, I'm very lucky as that even though I'm down 450 pips its not a huge loss in $$ terms but yeah it was a last minute thing and its been a hectic week with my brother getting married...oh well I'm still OK I live to fight another day!
Nice to see you back mate. I know you can cover it up in no time.
Find a job that you love and you dont have to work again in your life.
  • #14,947
  • Feb 1, 2010 3:58am Feb 1, 2010 3:58am
any expert could advice on the next move? i'm thinking of long and set SL at previous low 8735.

i read frm CNBC that RBS will most likely hike rate tomorrow, that means AUD USD will go up right?

thanks
  • #14,948
  • Feb 1, 2010 4:00am Feb 1, 2010 4:00am
Quoting forgly
any expert could advice on the next move? i'm thinking of long and set SL at previous low 8735.

i read frm CNBC that RBS will most likely hike rate tomorrow, that means AUD USD will go up right?

thanks
No, That's not what it means. There's a possibility that it will 'go up', but probably lower than 35%.
  • #14,949
  • Feb 1, 2010 4:00am Feb 1, 2010 4:00am
I had a standing buy order at 8790 which got filled. That support is pretty strong and should hold for tonight atleast. SL 8775, TP 8860. Lets hope it gets there.
Attached Image (click to enlarge)
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Find a job that you love and you dont have to work again in your life.
  • #14,950
  • Feb 1, 2010 4:03am Feb 1, 2010 4:03am
This week, .80 more likely than .90 IMO.
  • #14,951
  • Feb 1, 2010 4:03am Feb 1, 2010 4:03am
as history says then Yes it should go up.

How ever as i think there is more left in the downturn so it will create a great short entry and then an even greater long entry !!!
  • #14,952
  • Feb 1, 2010 4:05am Feb 1, 2010 4:05am
Quoting ivanovic01
as history says then Yes it should go up.

How ever as i think there is more left in the downturn so it will create a great short entry and then an even greater long entry !!!
I'm buying all I can at .50 , Hope it gets there
  • #14,953
  • Feb 1, 2010 4:06am Feb 1, 2010 4:06am
Quoting yorygog
I wish I could say the same.




I love your attitude!!!

  • #14,954
  • Feb 1, 2010 4:09am Feb 1, 2010 4:09am
Quoting tradoholic
Nice to see you back mate. I know you can cover it up in no time.
Thanks mate, I'm working on it....Just took another long with a target of 50 pips but with a much higher $ to pip amount...should cover my current losing trades if it gets there...
  • #14,955
  • Feb 1, 2010 4:10am Feb 1, 2010 4:10am
Quoting Daytrader74
No margin call, I'm very lucky as that even though I'm down 450 pips its not a huge loss in $$ terms but yeah it was a last minute thing and its been a hectic week with my brother getting married...oh well I'm still OK I live to fight another day!
Don't worry, retracement is right ahead of us. Stay tune!
  • #14,956
  • Feb 1, 2010 4:10am Feb 1, 2010 4:10am
Quoting forgly
any expert could advice on the next move? i'm thinking of long and set SL at previous low 8735.

thanks
If I could do my trade all over again I would be patient and wait5 to go long till it drops down to 0.8735. It might not get there and sure you might miss out on a nice trade, but, at least you wont lose any money over it.
  • #14,957
  • Feb 1, 2010 4:15am Feb 1, 2010 4:15am
earlier on today I closed all my shorts that I had on DOW, DAX and Gold knowing that today will be an UP day. Over all I took 536 points on Dow, 289 points on DAX and 50 on Gold. I am now net long on AU, but the DOW looks like its going to take another hit tonight which should bring down the Aussie as well. Anyone with me there?
Find a job that you love and you dont have to work again in your life.
  • #14,958
  • Feb 1, 2010 4:21am Feb 1, 2010 4:21am
when aud/usd fell from .97 to .60 , there was only 1 bullish week. the odds are in the shorts favor, if you agree that the usd is indeed bullish, it's unlike the environment when the usd is bearish and there's retracements all the time.
  • #14,959
  • Feb 1, 2010 4:29am Feb 1, 2010 4:29am
I am not Bullish on the Geenback in the long term.
  • #14,960
  • Feb 1, 2010 4:36am Feb 1, 2010 4:36am
just closed my long with 34 points and going short on Dow and AUD. ( 10112 and 8833). Main reason is that the dow looks like its going to drop
Find a job that you love and you dont have to work again in your life.
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