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AUD/USD

  • #15,161
  • Feb 2, 2010 11:55am Feb 2, 2010 11:55am
Quoting Geppyg
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
After waiting for 4 hours my entries have been triggered with a stop of 20 pips first target is 30 pips....for sl to be

Good Day
Let Price determine your future!
  • #15,162
  • Feb 2, 2010 11:55am Feb 2, 2010 11:55am
Quoting john2301
sir] whats ur Sl?
SL is 20pips. TP 40pips.

1:2 risk ratio.
  • #15,163
  • Feb 2, 2010 12:59pm Feb 2, 2010 12:59pm
Quoting peyman
just kiss my SL and go down i hope it goes up more100 pip and make
me happy for right sl
i don have any position on aud but satisfy from my lovely SL
  • #15,164
  • Feb 2, 2010 2:19pm Feb 2, 2010 2:19pm
So how soon can we expect this thng to turn around,....???
  • #15,165
  • Feb 2, 2010 2:59pm Feb 2, 2010 2:59pm
look at nzd/usd
I dont think this suckers goin back short for a while..
Im a zombie.. "Rawr"
  • #15,166
  • Feb 2, 2010 3:07pm Feb 2, 2010 3:07pm
Quoting defariak
look at nzd/usd
I dont think this suckers goin back short for a while..
agree
  • #15,167
  • Feb 2, 2010 3:39pm Feb 2, 2010 3:39pm
Quoting WallStBully
So how soon can we expect this thng to turn around,....???
Unless we get some risk aversion we could stay in a relatively tight range until NFP on Friday. That's what normally happpens. Even though RBA didn't raise rates, it's still an attractive carry play compared to other countries.
Nothing worth having is easy.
  • #15,168
  • Feb 2, 2010 3:48pm Feb 2, 2010 3:48pm
Quoting Patience
Unless we get some risk aversion we could stay in a relatively tight range until NFP on Friday. That's what normally happpens. Even though RBA didn't raise rates, it's still an attractive carry play compared to other countries.
Agreed. However, in the nearer term, I am seeing Momentum reaching it's peak and see a small to medium downturn coming soon. Throw in a H1 Momentum or Stochastic. We also do have a few big announcements in the next few days.
  • #15,169
  • Feb 2, 2010 3:49pm Feb 2, 2010 3:49pm
Also Open Interest took a dive
  • #15,170
  • Feb 2, 2010 3:50pm Feb 2, 2010 3:50pm
Shorts look good to me here on both Aud and Euro. Stops above 8870 and 1.3978. Targetting 8750 then 82 in extension on Aud. 1.3810 on the euro then 1.3750.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 17 KB
  • #15,171
  • Feb 2, 2010 3:59pm Feb 2, 2010 3:59pm
What should we expect from the AIG services index number and the trade balance,....i dont see these driving the aussie higher,....anyone agree?
  • #15,172
  • Feb 2, 2010 4:06pm Feb 2, 2010 4:06pm
Quoting WallStBully
What should we expect from the AIG services index number and the trade balance,....i dont see these driving the aussie higher,....anyone agree?
it depends on what the numbers come out as..
Im a zombie.. "Rawr"
  • #15,173
  • Feb 2, 2010 4:15pm Feb 2, 2010 4:15pm
Quoting Patience
Unless we get some risk aversion we could stay in a relatively tight range until NFP on Friday. That's what normally happpens. Even though RBA didn't raise rates, it's still an attractive carry play compared to other countries.
it's very risky to go long (long-term), even if it 'appears' to be in a sort of range at top
  • #15,174
  • Feb 2, 2010 4:34pm Feb 2, 2010 4:34pm
Quoting amyc
Shorts look good to me here on both Aud and Euro. Stops above 8870 and 1.3978. Targetting 8750 then 82 in extension on Aud. 1.3810 on the euro then 1.3750.
I am trying something a little different this time with a lower TP on two pairs, but I needed a little higher SL then usual. I had a stronger indication on the NZDUSD for a short now, but it will drag along waiting for AUDUSD, which I think is close just might channel for 30 minutes to an hour. I basically took a short on 2 lots AUSUSD at .8868 with a TP of .88555(12.5 PIP's), and a short on 2 lots of NZDUSD at .7128 with a TP of .71155. Basically my SL amounts to $500 on this trade. I am hoping to hit 12.5 PIP's each on this trade, which makes my 2 lot daily goal for me in one trade at 25 PIP's. Upside, I am in and out much quicker, can wait for trend to be confirmed on both pairs, less trades for the day, and not have to time the top since my expectaions on my TPs are reasonable within FIb's. Downside, SL a little higher to let trend take hold so I can also lose on both trades with a one to one risk-payoff margain that is within my 1%, but outside of the scope of my 3 to 1 trading plan margain. Curious as to anyone else that plays or times any other trades with AUSUSD. I am really interested in trades that relate closely to this pair because I don't want to manage two pairs that don't tend to follow the same drummer. Anyone trading Gold when they take a AUSUSD trade, and how are you structuring it? All I know about Gold is charting is charting, but I have never traded Gold so someone clue me in on the how, such as how the margains work, the actual cost, do you trade mini contracts, and how the profit like PIP's on Forex are calculated?
  • #15,175
  • Feb 2, 2010 4:45pm Feb 2, 2010 4:45pm
Quoting Clouds
it's very risky to go long (long-term), even if it 'appears' to be in a sort of range at top
Lol - you're such a bear Yes, I agree, it is risky, but I meant that I don't see any abnormal mass exodus from A/U yet and if I was holding from lower levels, I'd still be holding for the carry.

Anyway, depending on your perspective, we could be at a short-term bottom - could be good for a few hundred pips ..... what's that I see on my daily chart - hidden bullish divergence? I'm not trading it though, tied up in other places, might do a few scalps though

Attached Image (click to enlarge)
Click to Enlarge Name: AUD-DAILY.jpg Size: 151 KB
Nothing worth having is easy.
  • #15,176
  • Feb 2, 2010 4:46pm Feb 2, 2010 4:46pm
We might not have enough momentum to go down yet, perhaps it goes to .93 one more time
  • #15,177
  • Feb 2, 2010 4:48pm Feb 2, 2010 4:48pm
Quoting Patience
Lol - you're such a bear Yes, I agree, it is risky, but I meant that I don't see any abnormal mass exodus from A/U yet and if I was holding from lower levels, I'd still be holding for the carry.

Anyway, depending on your perspective, we could be at a short-term bottom - could be good for a few hundred pips ..... what's that I see on my daily chart - hidden bullish divergence? I'm not trading it though, tied up in other places, might do a few scalps though

Attachment
actually, you may be right, the yen pairs and usd pairs may have hit a temporary bottom, and could go up 1-2 weeks. then BIG SELL!!
  • #15,178
  • Feb 2, 2010 4:48pm Feb 2, 2010 4:48pm
The RSI calls for a rebound to about 0.8900 - 0.8925
Attached Image
  • #15,179
  • Feb 2, 2010 4:51pm Feb 2, 2010 4:51pm
Quoting Patience
Lol - you're such a bear Yes, I agree, it is risky, but I meant that I don't see any abnormal mass exodus from A/U yet and if I was holding from lower levels, I'd still be holding for the carry.

Anyway, depending on your perspective, we could be at a short-term bottom - could be good for a few hundred pips ..... what's that I see on my daily chart - hidden bullish divergence? I'm not trading it though, tied up in other places, might do a few scalps though

Attachment
mr.Patience if i wonder can u give template and the indicators of that chart which u sent ?
  • #15,180
  • Feb 2, 2010 4:53pm Feb 2, 2010 4:53pm
Quoting Daytrader74
The RSI calls for a rebound to about 0.8900 - 0.8925

a break above .8925 would be a successful double bottom and would typically lead us into the .9060 range if successful, IMO...
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