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AUD/USD

  • #15,121
  • Feb 2, 2010 5:15am Feb 2, 2010 5:15am
I will take a short from 0.8825 who's with me ?
  • #15,122
  • Feb 2, 2010 5:16am Feb 2, 2010 5:16am
short
  • #15,123
  • Feb 2, 2010 5:26am Feb 2, 2010 5:26am
Quoting sibajnok
long @8782. target1: 50pips
trade closed in +30pips.

see you later.
  • #15,124
  • Feb 2, 2010 5:41am Feb 2, 2010 5:41am
Quoting Daytrader74
I will take a short from 0.8825 who's with me ?
The Trade is a good Trade and Risk reward seems good as it is the top of the consolidation range on the drop down..

Also.. The Bear flag should be mean a movement of no more than 8860 should be seen or this invalidates the flag.

The first take profit for this trade would be 8783 and 2nd target 8740...

Good Day My Maths says we still have a bit of time...I will wait for the flag to form... before I take any positions...

Have a good Day
Geppyg
Let Price determine your future!
  • #15,125
  • Feb 2, 2010 5:43am Feb 2, 2010 5:43am
Quoting Geppyg
The Trade is a good Trade and Risk reward seems good as it is the top of the consolidation range on the drop down..

Also.. The Bear flag should be mean a movement of no more than 8860 should be seen or this invalidates the flag.

The first take profit for this trade would be 8783 and 2nd target 8740...

Good Day My Maths says we still have a bit of time...I will wait for the flag to form... before I take any positions...

Have a good Day
Geppyg
Thanks!
  • #15,126
  • Feb 2, 2010 5:45am Feb 2, 2010 5:45am
Quoting Geppyg
The Trade is a good Trade and Risk reward seems good as it is the top of the consolidation range on the drop down..

Also.. The Bear flag should be mean a movement of no more than 8860 should be seen or this invalidates the flag.

The first take profit for this trade would be 8783 and 2nd target 8740...

Good Day My Maths says we still have a bit of time...I will wait for the flag to form... before I take any positions...

Have a good Day
Geppyg
Hi Geppyg,

Can I ask what system do you use to check the trading range, first tp, second tp, etc?
  • #15,127
  • Feb 2, 2010 5:52am Feb 2, 2010 5:52am
you said we still have a bit of time. you mean we'll go higher for further entry.

I've done one stupid thing and shorted this pair at .8795 and now getting jitters. Will scale in at .8825 and S/L for the entire thing would be at .8873.

If I hit the S/L, I will be when I started.




Quoting Geppyg
The Trade is a good Trade and Risk reward seems good as it is the top of the consolidation range on the drop down..

Also.. The Bear flag should be mean a movement of no more than 8860 should be seen or this invalidates the flag.

The first take profit for this trade would be 8783 and 2nd target 8740...

Good Day My Maths says we still have a bit of time...I will wait for the flag to form... before I take any positions...

Have a good Day
Geppyg
  • #15,128
  • Feb 2, 2010 6:00am Feb 2, 2010 6:00am
I took a short @ 0.8835 on the drop this afternoon. Just came back from dinner and it seems its retracing back up further...

The only thing that is making me feel slightly uncomfortable is the rising gold prices
  • #15,129
  • Feb 2, 2010 6:05am Feb 2, 2010 6:05am
also short...

i see a descending triangle forming on the gold chart...
Attached Image (click to enlarge)
Click to Enlarge Name: 100202auwedge.jpg Size: 93 KB
  • #15,130
  • Feb 2, 2010 6:06am Feb 2, 2010 6:06am
Quoting puks
you said we still have a bit of time. you mean we'll go higher for further entry.

I've done one stupid thing and shorted this pair at .8795 and now getting jitters. Will scale in at .8825 and S/L for the entire thing would be at .8873.

If I hit the S/L, I will be when I started.
Sorry puks for the delay in reply.....as I said when a pole is formed

we had pole formation from 8928 to to 8781 which is = 147 pips...

A Flag should be no more than 60% of the pole as this is called the tip or the flag is considered invalid...

60% of the move from 8928 to 8781 takes us to 88 pips
ie a value of approx 8968
8960 to 8968 is the stop area

Now for limits...

8983 is the bottom of the consolidation range....so that is tp 1
and 8940 is price support zone for PA..

As simple as that...hope this helps both puks and golden child...

Have a Good Day
Let Price determine your future!
  • #15,131
  • Edited 6:26am Feb 2, 2010 6:15am | Edited 6:26am
Personally I believe in extreme Pa and Extreme positions on chart technical..hence I will always have a reason behind my trades..

Personally I will be waiting for the 8850-8860 so my risk reward is good...
If I miss a trade so be it...

At least I have more of a gurantee on trades--This morning trades were perfect with a 120 pips ...you cant ask more than that....and now a flag...gets even better

Take care
GeppyG
Let Price determine your future!
  • #15,132
  • Feb 2, 2010 6:20am Feb 2, 2010 6:20am
Some lighthearted entertaiment on todays rate decision as we wait for the drop

http://www.theaustralian.com.au/news...-1225826045130
  • #15,133
  • Feb 2, 2010 6:20am Feb 2, 2010 6:20am
45 min to NY opening and AUD has had a bad rate announcement so who knows
the NY reaction to aud news certainly it will not positive and no one wants
to keep aud in his poket before NY opening I think sell could be wisdom
right now and balabalabala market does everything want!
  • #15,134
  • Feb 2, 2010 6:22am Feb 2, 2010 6:22am
I'm long from 0.8785 and plan my TP at 0.8860. I moved my SL to 0.8820, because I'm wasn't sure that it won't fall down.
Gold is going up, so I think AUD/USD will do the same.
  • #15,135
  • Feb 2, 2010 6:28am Feb 2, 2010 6:28am
Geppy,

probably not understanding you right from lack of sleep but, should that be a move upto 8869? with tp1 at 8781

Quoting Geppyg
Sorry puks for the delay in reply.....as I said when a pole is formed

we had...
  • #15,136
  • Feb 2, 2010 6:32am Feb 2, 2010 6:32am
Quoting peyman
45 min to NY opening and AUD has had a bad rate announcement so who knows
the NY reaction to aud news certainly it will not positive and no one wants
to keep aud in his poket before NY opening I think sell could be wisdom
right now and balabalabala market does everything want!

AUD dropped over 140 pips yesterday, and since then has held support due to the fact that equities have been strong(nikkei up 160 pts and london is up 25 pts), that combined with gold and oil higher and if they can hold, the risk trade is still in play, meaning there will be more buying of AUD and NZD. also, dow and s&p futures are up currently 2 hrs before NY open. obviously, IMO...
  • #15,137
  • Feb 2, 2010 6:34am Feb 2, 2010 6:34am
Quoting BobbyBob
Some lighthearted entertaiment on todays rate decision as we wait for the drop

http://www.theaustralian.com.au/news...-1225826045130
ROFL
I dont blame that guy. Miranda Kerr is hot!
  • #15,138
  • Feb 2, 2010 6:38am Feb 2, 2010 6:38am
Quoting caldera
Geppy,

probably not understanding you right from lack of sleep but, should that be a move upto 8869? with tp1 at 8781
Yes that is correct any move above this invalidates the bearish flag
Let Price determine your future!
  • #15,139
  • Feb 2, 2010 6:54am Feb 2, 2010 6:54am
GOLD:

time to go dwon daily ema50 + TD and bearish dv on H! and M30 help
it have some correction to down
Attached Image(s) (click to enlarge)
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  • #15,140
  • Feb 2, 2010 9:37am Feb 2, 2010 9:37am
where the hell is this drop you all have been talking about,....this thing looks like its not gonna stop climbing,..!!!
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