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AUD/USD

  • #15,001
  • Feb 1, 2010 5:19pm Feb 1, 2010 5:19pm
Good luck to you all are you short or long for the RBA announcement ?
Attached Image
  • #15,002
  • Feb 1, 2010 5:30pm Feb 1, 2010 5:30pm
Quoting Daytrader74
Good luck to you all are you short or long for the RBA announcement ?
short
  • #15,003
  • Feb 1, 2010 5:31pm Feb 1, 2010 5:31pm
Quoting Daytrader74
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...
Well that paid off well for me, so now looking at what trade I should take prior to the RBA announcement...any thoughts ?
  • #15,004
  • Feb 1, 2010 5:31pm Feb 1, 2010 5:31pm
Odds are that we will continue up since this up trend max out the Fib's. In the meantime, I took a little bit of a risk on a retracement. Short .89215, TP .8870. SL 89.30, I am a little shakey on this one so I have set my SL and TP pretty tight. This could be over for me quickly, but I came back from my son's school function with some decent confirmations. If it does turn on me, this will be the first time in a few days, which is always a possibility when sentiments are really strong.
  • #15,005
  • Feb 1, 2010 5:34pm Feb 1, 2010 5:34pm
looks like we are beginning a pull back to retrace the big move today. if this happens, this would lead me to believe that the market believes rates are going to raise, and the AUD will continue its movement to the upside. the big question IMO is how much of a correction will occur and what price will it correct to?
  • #15,006
  • Feb 1, 2010 5:35pm Feb 1, 2010 5:35pm
here's an interesting channel, it's not perfect
(even though it may be biased on the short-side)
Attached Image (click to enlarge)
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  • #15,007
  • Feb 1, 2010 5:37pm Feb 1, 2010 5:37pm
First hour bearish candle, that gives my shorts some encouragement
  • #15,008
  • Feb 1, 2010 5:39pm Feb 1, 2010 5:39pm
i think everyone got paid on the 1st, and invested in the stock market. tomorrow they'll lose all their money. shorts till .50 !
  • #15,009
  • Feb 1, 2010 5:40pm Feb 1, 2010 5:40pm
lol 50/50 rule hey. You know what that means, dont listen to anyone and double cross your own decision lol.

My thoughts are we have all ready had the correction. When the announcement is made and the rate rise (a def) maybe a 20-30pip jump,
but then afternoon and rest of week will return down ?
  • #15,010
  • Feb 1, 2010 5:41pm Feb 1, 2010 5:41pm
Bled badly on my shorts last night. Still short on DOW, AUD SL triggered at 89.00. I think I will wait till after the news for further trade unless I see some set up that stands out.
Find a job that you love and you dont have to work again in your life.
  • #15,011
  • Feb 1, 2010 5:44pm Feb 1, 2010 5:44pm
good chance .8920 hold, and nzd can't overcome resistance at .71,, so i have a tight stop ( just my personal thoughts)
  • #15,012
  • Feb 1, 2010 5:45pm Feb 1, 2010 5:45pm
Quoting tradoholic
Bled badly on my shorts last night. Still short on DOW, AUD SL triggered at 89.00. I think I will wait till after the news for further trade unless I see some set up that stands out.
Probably a smart move......
  • #15,013
  • Feb 1, 2010 5:46pm Feb 1, 2010 5:46pm
I am still holding my long from last evening.

Waiting to see what the night brings.
  • #15,014
  • Feb 1, 2010 5:52pm Feb 1, 2010 5:52pm
Quoting Daytrader74
Well that paid off well for me, so now looking at what trade I should take prior to the RBA announcement...any thoughts ?
DT, What time Ausie time rather does the announcement come out today? I am showing 10:30 pm, which I assume is Eastern or in a few hours?
  • #15,015
  • Feb 1, 2010 5:59pm Feb 1, 2010 5:59pm
short here -15 pips so far, I put some buy stop order to hedge above R at .8960 , I'm very suspecious about the short side, all the daily candlsticks -all across the board- are closed USD negative.

btw, have any one notice all this pattern could be rectangle continuation pattern? I dont like the idea thought
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: aud-4.gif Size: 14 KB
  • #15,016
  • Feb 1, 2010 6:03pm Feb 1, 2010 6:03pm
Quoting shahab8b
short here -15 pips so far, I put some buy stop order to hedge above R at .8960 , I'm very suspecious about the short side, all the daily candlsticks -all across the board- are closed USD negative.

btw, have any one notice all this pattern could be rectangle continuation pattern? I dont like the idea thought
1 bearish hourly candle, 20 more to go - we didn't make a higher high, still extremely bearish pair, IMO
  • #15,017
  • Feb 1, 2010 6:04pm Feb 1, 2010 6:04pm
Quoting Clouds
1 bearish hourly candle, 20 more to go
hope so
  • #15,018
  • Feb 1, 2010 6:12pm Feb 1, 2010 6:12pm
Quoting shahab8b
hope so
how does gold look on hourly to you?
  • #15,019
  • Feb 1, 2010 6:20pm Feb 1, 2010 6:20pm
Hi Ducci,

The time for the interest rate release is 2.30pm Sydney time.

If you go to the top of the page you are on and click on Calendar, it will bring up the weeks news events for forex. Move to today and the Cash Rate and RBA Rate Statement release will be there with the time.

If you have set the time in your profile to your computer time the time of release should be in your time. Which should be in 3 ¼ hours to the release.

Regards
Peter-FX
  • #15,020
  • Feb 1, 2010 6:21pm Feb 1, 2010 6:21pm
Quoting Ducci
DT, What time Ausie time rather does the announcement come out today? I am showing 10:30 pm, which I assume is Eastern or in a few hours?
2:30pm
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