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  • #15,861
  • Feb 9, 2010 6:55pm Feb 9, 2010 6:55pm
Quoting Big1red9
If price holds up in an hour or so, I will short it at .8780 up to .8795.

If price drops lower, I will pass and move on to another pair for now.

Good trading to you,
BR
Hey, can u tell me if u think this

Quoting Clouds
Attachment
  • #15,862
  • Feb 9, 2010 6:56pm Feb 9, 2010 6:56pm
Well i've closed my long and shorted @ 87.80 as per this post from last week

http://www.forexfactory.com/showpost...ostcount=15641

Quoting Clouds
Hey, can u tell me if u think this
Todays news is usually not a high impact news.
But tomorrows AU employment figures will be
I'm still holding my belief of ranging between 87.80-86. So therefore it "should" fall back down to the middle of the range box (87.00) and then it can decided whether to move up to 87.80 for good news or down to 86.00 for bad news.

Gold is currently bouncing off 1078 lets see whether it will complete the bounce
  • #15,863
  • Feb 9, 2010 7:04pm Feb 9, 2010 7:04pm
I think it is possible for it to drop within the current price channel to about 8600. It won't be a straight shot and I may choose to trade price corrections.

BUT

We are right at the upper trendline. A cross over and with some PA evidence, I shift to trading long. AU needs to prove where its going.

Take care,
BR


Quoting Clouds
Hey, can u tell me if u think this
  • #15,864
  • Feb 9, 2010 7:18pm Feb 9, 2010 7:18pm
Quoting BobbyBob
Well i've closed my long and shorted @ 87.80 as per this post from last week

http://www.forexfactory.com/showpost...ostcount=15641



Todays news is usually not a high impact news.
But tomorrows AU employment figures will be
I'm still holding my belief of ranging between 87.80-86. So therefore it "should" fall back down to the middle of the range box (87.00) and then it can decided whether to move up to 87.80 for good news or down to 86.00 for bad news.

Gold is currently bouncing off 1078 lets see whether it...
maybe range, maybe just down after 2-3 days, we'll see
Attached Image
  • #15,865
  • Feb 9, 2010 7:32pm Feb 9, 2010 7:32pm
Definite Major Resistance Here. 10 Hours of Fail.
  • #15,866
  • Feb 9, 2010 7:41pm Feb 9, 2010 7:41pm
Quoting Clouds
Definite Major Resistance Here. 10 Hours of Fail.
are you really that surprised?

we have confluence of a strong PPZ between 8780 and 8810, a well-defined trendline, a 61.8 fib retracement(hi of 8914, low of 8574), and the nice round number of 8800 all within 20 pips of each other...
  • #15,867
  • Feb 9, 2010 7:49pm Feb 9, 2010 7:49pm
Quoting aicccia
are you really that surprised?

we have confluence of a strong PPZ between 8780 and 8810, a well-defined trendline, a 61.8 fib retracement(hi of 8914, low of 8574), and the nice round number of 8800 all within 20 pips of each other...
No, I'm not surprised. It's re-testing TL support from Oct Low, and previous support from the 1st-3rd of this month, as well as the daily Down TL.
Just bored... Waiting
  • #15,868
  • Feb 9, 2010 7:59pm Feb 9, 2010 7:59pm
Hi, guys. I am short term short biased until us session. imho the DP -.8736 needs to be tested and will be as long as .88 holds. Then bulls will step back in to ride it up to the .894 level. The last level may not necesseraly be reached and watching PA is the key...
  • #15,869
  • Feb 9, 2010 8:20pm Feb 9, 2010 8:20pm
anyone looking to hold a sell to and through the lows of 8575?
  • #15,870
  • Feb 9, 2010 8:27pm Feb 9, 2010 8:27pm
I'm going to hold my short down to 86, as long as it doesn't go past 88.10. I think this will be the next wave of the down trend
  • #15,871
  • Feb 9, 2010 8:28pm Feb 9, 2010 8:28pm
Quoting Clouds
anyone looking to hold a sell to and through the lows of 8575?
still holding shorts from .8790-92 (sl=.8800) but I dont know if I keep them that long,
  • #15,872
  • Edited 8:46pm Feb 9, 2010 8:28pm | Edited 8:46pm
Quoting Clouds
anyone looking to hold a sell to and through the lows of 8575?
Tempted to... but still unsure... a move to retest around 0.8900-0.8950 is fairly possible IMO, before going back down (or not).

(38.2% of total move from HH - 0.9405 to most recent LL - 0.8577, 50% retracement of last swing low).

Daily charts.

Attached Image (click to enlarge)
Click to Enlarge Name: aud_daily_feb.gif Size: 18 KB


Also, 0.8950 hasn't yet been thoroughly retested there as resistance, I think.

And... possible descending WW bringing us up to 0.9530ish? (127.2 extension and top of ascending pitchfork) or going first to 0.8370 as it's nearer? (also 127.2 of the last swing and bottom line of descending pitchfork)...
  • #15,873
  • Feb 9, 2010 8:30pm Feb 9, 2010 8:30pm
I think whoever sell here doesnt have much to lose, a SL over .8800 is so clear
  • #15,874
  • Feb 9, 2010 8:33pm Feb 9, 2010 8:33pm
Quoting shahab8b
I think whoever sell here doesnt have much to lose, a SL over .8800 is so clear
Thinking of adding another 2 lots short...
  • #15,875
  • Feb 9, 2010 8:36pm Feb 9, 2010 8:36pm
if .86 is reached, there's the risk that employment data will be good tomorrow and bring AU back up to .88 again, for a re-sell, but then there's chance also it break .8575 and make huge move down, that could possibly be missed.

if .87 is reached, it may be good add shorts at .8750 if it look like it resistance
  • #15,876
  • Feb 9, 2010 8:41pm Feb 9, 2010 8:41pm
If this continues down there is a high chance that 8554 will be reached by Friday. I will be holding all my shorts till at least then.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 17 KB
  • #15,877
  • Feb 9, 2010 8:46pm Feb 9, 2010 8:46pm
Does anyone know when a decision/plan for bailing greece out will be made?
Cos a think a change of sentiment will occur, just like the "dubai world" crisis of late NOV 09
But if no one cames to greeces aid. This will DEFIANTLY fall like there is no tomorrow
  • #15,878
  • Feb 9, 2010 8:48pm Feb 9, 2010 8:48pm
Imho I don't think we will test the lows this comming 1-2 days. There are positive news from Eurozone about potential bailouts, which helps to bring the pair up. Once those settle down, bears'll come back. So, as long as it is above .87 it should stay short term bullish. I will be more then greatfull to buy at .8725-3 with 40sl
  • #15,879
  • Feb 9, 2010 8:48pm Feb 9, 2010 8:48pm
Quoting BobbyBob
Does anyone know when a decision/plan for bailing greece out will be made?
I heard Greece decided they won't pay their debt, and put all their money in short AUD/USD.
  • #15,880
  • Feb 9, 2010 8:56pm Feb 9, 2010 8:56pm
Quoting Clouds
I heard Greece decided they won't pay their debt, and put all their money in short AUD/USD.
When did you hear that ??
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