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  • #15,601
  • Feb 5, 2010 4:31am Feb 5, 2010 4:31am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey Folks...

I am a pound fan recently started trading most currencies.

Not sure what the outcome will be but I think we should retrace some, whole world is shorting, and we can see buying week next if all is alright! That's not guranteed though

Anyway, these are thoughts only and I trade what the chart says...

My opinions are posted on my thread but here is the AU chart and i'll be taking trades based on it..
Attached Image (click to enlarge)
Click to Enlarge Name: au_daily.gif Size: 12 KB
  • #15,602
  • Feb 5, 2010 5:19am Feb 5, 2010 5:19am
By all means please do so.

If $70 drop in two days is not enough, sure go ahead.

I am LONG GOLD and will TP at 1110, hopefully by end of tonight/mid next week.

I will hedge at 1024



Quoting Daytrader74
Yeah I think I'll just put the house on going short lol
  • #15,603
  • Feb 5, 2010 5:24am Feb 5, 2010 5:24am
Quoting puks
By all means please do so.

If $70 drop in two days is not enough, sure go ahead.

I am LONG GOLD and will TP at 1110, hopefully by end of tonight/mid next week.

I will hedge at 1024
I was talking on putting it on shorting the AUD not Gold
  • #15,604
  • Feb 5, 2010 5:27am Feb 5, 2010 5:27am
Quoting forex3e
just sharing my thoughts





a-yen has satisfy the wedge run 76.25 , its also what i term as "a silly clown design" famous for false break before returning back inside the triangle , this is what i would look out for but i could be wrong

good trading

and

good luck
Hey

Thanks for that. I had the 76.xx area marked up as maybe some sort of support being that it was the lows for Sep/Oct/Nov 09. I'm prepared to see lower levels if meltdown continues. If I play with fire I've got to expect some pain No doubt your trading is going well. Spot ya soon.
Nothing worth having is easy.
  • #15,605
  • Feb 5, 2010 6:46am Feb 5, 2010 6:46am
Just came back to my computer, Dam I missed the short on Dow. I dont think this is the end of it anyway. I hope no one tries to pick the bottom yet. I think Gold will drop a bit more before retracing towards the afternoon in NY time. AUD shouls follow then.
Find a job that you love and you dont have to work again in your life.
  • #15,606
  • Feb 5, 2010 6:51am Feb 5, 2010 6:51am
There is a possibility this may go down further
consider the following:

The US has been recuiting 100's of thousands of worker for the up coming census http://2010.census.gov/2010censusjobs/ closing date : 23 DEC

This could theoretically cause an artifical high rate of employment if it were to be included in the JAN employment data.
  • #15,607
  • Feb 5, 2010 6:51am Feb 5, 2010 6:51am
whats about kiwi? if further up , my margin call will be crap...
someone can tell his opinion about it?
  • #15,608
  • Feb 5, 2010 6:55am Feb 5, 2010 6:55am
Quoting BobbyBob
There is a possibility this may go down further
consider the following:

The US has been recuiting 100's of thousands of worker for the up coming census http://2010.census.gov/2010censusjobs/ closing date : 23 DEC

This could theoretically cause an artifical high rate of employment if it were to be included in the JAN employment data.

this could go down further strictly based upon the technicals on the daily chart. we just successfully cross though the neckline of a double top yesterday, which should take us to the .8200 area over time. all the news does is create emotions, which increases volume which accelerates or dissipates a trend, and right now the universal trend is DOWN DOWN DOWN for anything up against the USD
  • #15,609
  • Feb 5, 2010 6:59am Feb 5, 2010 6:59am
I put up this chart a few weeks ago. This is my longer term opinion
Attached Image (click to enlarge)
Click to Enlarge Name: CropperCapture[26].jpg Size: 65 KB
Find a job that you love and you dont have to work again in your life.
  • #15,610
  • Feb 5, 2010 7:57am Feb 5, 2010 7:57am
I dont understand this at all.
Number of employed ppl dropped consecutively, but unemployment rate drop?
How does this work? Am I interpreting it wrongly?
  • #15,611
  • Feb 5, 2010 8:12am Feb 5, 2010 8:12am
Damn my Short at limit order got triggered while I was in the loo lol
  • #15,612
  • Feb 5, 2010 8:13am Feb 5, 2010 8:13am
Quoting GoldenGold
I dont understand this at all.
Number of employed ppl dropped consecutively, but unemployment rate drop?
How does this work? Am I interpreting it wrongly?
The rate drop more than likely reflects people who have lost unemployment benefits. You won't hear them referenced by Obama.
  • #15,613
  • Feb 5, 2010 8:19am Feb 5, 2010 8:19am
Quoting GoldenGold
I dont understand this at all.
Number of employed ppl dropped consecutively, but unemployment rate drop?
How does this work? Am I interpreting it wrongly?
if i'm not wrong the US goverment use a different method this time to count the unemployment rate. i'm not sure how accurate is the count. maybe that's what make the number look odd for you, even for me this is odd, btw i really confuse right now which way the trend will move. i really take my hand off from this pair, i can not analyze this pair. fundamental and technicaly, it's not make any sense. for me it just a crazy market sentiment.
  • #15,614
  • Feb 5, 2010 8:45am Feb 5, 2010 8:45am
Quoting yeri
if i'm not wrong the US goverment use a different method this time to count the unemployment rate. i'm not sure how accurate is the count. maybe that's what make the number look odd for you, even for me this is odd, btw i really confuse right now which way the trend will move. i really take my hand off from this pair, i can not analyze this pair. fundamental and technicaly, it's not make any sense. for me it just a crazy market sentiment.
Unemployment rate: Percentage of total work force that is unemployed and actively seeking employment during the previous month;

If they're not registered as actively seeking employment, they won't be counted... (maybe they've converted to Forex?)
  • #15,615
  • Feb 5, 2010 9:02am Feb 5, 2010 9:02am
So now were on our way back up???? Anyone sticking to their shorts?
  • #15,616
  • Feb 5, 2010 9:06am Feb 5, 2010 9:06am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting GoldenGold
I dont understand this at all.
Number of employed ppl dropped consecutively, but unemployment rate drop?
How does this work? Am I interpreting it wrongly?
I was wondering about that as well... But I found that article here explaining it... a bit

1420 GMT [Dow Jones] The employment report is confusing: jobs lost but unemployment down. But each measure of labor markets comes from two different surveys. Companies and governments surveyed for Labor's establishment survey said they cut 20K jobs, on net. But households surveyed by the Labor Dept said that 541K more jobs were created last month, helping to bring down the jobless rate. Gaps between both surveys are not unusual, but it suggest more people have struck out on their own or are working for companies too small to be captured by Labor's suvey. (KGM)
-Tuner-
"Blue Horseshoe loves Anacott Steel!"
  • #15,617
  • Feb 5, 2010 9:20am Feb 5, 2010 9:20am
I am still holding my LONG position and I feel pretty good about. I need to learn about Long term trading instead of very short term.

Great reason to do, huh,

  • #15,618
  • Feb 5, 2010 11:10am Feb 5, 2010 11:10am
AUD/USD broke support of 8606,...next one is 8568,...then 7701 !!! Whos with me!!
  • #15,619
  • Feb 5, 2010 12:28pm Feb 5, 2010 12:28pm
Hopefully. for my sake. not many.

  • #15,620
  • Feb 5, 2010 12:53pm Feb 5, 2010 12:53pm
.8568 is the 200 sma on the daily. I don't think it will be tested today but Sunday night should be interesting. If the support holds expect a good bounce. If it doesn't expect a fall.

I'll be watching the Superbowl .
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