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AUD/USD

  • #16,061
  • Feb 10, 2010 6:54pm Feb 10, 2010 6:54pm
very nice, finaly some gud news for aussie.. i put limit order on both sides, got out with 80pips in minutes lol. God i love trading news
  • #16,062
  • Feb 10, 2010 6:54pm Feb 10, 2010 6:54pm
Quoting Clouds
think it'll test .88 again?
imo .8825 should be more than maximum till US session
  • #16,063
  • Feb 10, 2010 6:55pm Feb 10, 2010 6:55pm
Quoting Clouds
think it'll test .88 again?
YES
  • #16,064
  • Feb 10, 2010 6:55pm Feb 10, 2010 6:55pm
Quoting amyc
I have my sell orders confirmed at 8823, stops above 8888, TP 8554. If it goes above and stops me out then that would signal to me a trend change as in a downtrend price doesn't go outside those highs. I will also be adding new longterm shorts here.
If the news pushes it down and we don't reach this level then i will have to reasess for an entry.
still same plan?
  • #16,065
  • Feb 10, 2010 6:56pm Feb 10, 2010 6:56pm
Quoting Clouds
still same plan?
yes
  • #16,066
  • Feb 10, 2010 6:56pm Feb 10, 2010 6:56pm
Quoting shahab8b
cleared 1st and 2nd long at .8850, 3rd SL to B/E
Sorry shah, missed my chance to post my chart due to work. Now it just looks like a hindsight call but it worked PERFECTLY.

My subminuette EW view was:

* Fridays lows was wave 5 of 5 impulse down
* Fridays lows to Mondays high was 1
* Monday high to Monday low was wave 2
* Monday low to Tuesday high wave 3 (confirmed by AO)
* Tuesday high to Wednesday low was wave 4 (confirmed by AO as well as inability for Wednesday low to break Monday high - wave 4 cannot intersect wave 1)
* Therefore: target 161.8FE of wave 1 at the Tokyo open today.

Target was just met - AO shows wave 5 divergence - I went short from 161.8FE for a re-test of 100FE/H4 50EMA/ 7/8MML confluence. 10 pip SL.
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  • #16,067
  • Feb 10, 2010 7:00pm Feb 10, 2010 7:00pm
I tend to think there should be some profit taking, thus I shorted at 55, I believe .8825 will do it, ot if it starts ranging within 10-15 pips I'll exit...
  • #16,068
  • Feb 10, 2010 7:10pm Feb 10, 2010 7:10pm
I think Bull have to pass 0.8920 resistance to confirm further above 0.9 level. Still waiting for better clues..
  • #16,069
  • Feb 10, 2010 7:13pm Feb 10, 2010 7:13pm
Quoting pipsbull
I tend to think there should be some profit taking, thus I shorted at 55, I believe .8825 will do it, ot if it starts ranging within 10-15 pips I'll exit...
I think 8789.
  • #16,070
  • Feb 10, 2010 7:14pm Feb 10, 2010 7:14pm
i know this is a HUGE stretch, but what if
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  • #16,071
  • Feb 10, 2010 7:17pm Feb 10, 2010 7:17pm
Quoting sinner-
I think 8789.
Wow, that's more than full retracement after such a positive data. I put the TP closer to .884. When do you expect it to get that down?
  • #16,072
  • Feb 10, 2010 7:18pm Feb 10, 2010 7:18pm
1 min short scalping
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  • #16,073
  • Feb 10, 2010 7:20pm Feb 10, 2010 7:20pm
Quoting gimmie
very nice, finaly some gud news for aussie.. i put limit order on both sides, got out with 80pips in minutes lol. God i love trading news


I did the samething with FXCM I place a buystop @ 88100 they fill my order @ 88530 for break even so at the 88100 I was in the negative until it reach the 88530 and there explaination was low liquidity and that I was fill at the net available slot can you believe that, I'm still in the trade but just now in the postive with 8 pip so far. Is this unheard of or what. I was down 43 pip why because I place a pending order in the right direction before the news. It's crazy
  • #16,074
  • Feb 10, 2010 7:21pm Feb 10, 2010 7:21pm
careful now ....lol

Quoting shahab8b
1 min short scalping
Annoying Precision
  • #16,075
  • Feb 10, 2010 7:22pm Feb 10, 2010 7:22pm
Quoting pipsbull
Wow, that's more than full retracement after such a positive data. I put the TP closer to .884. When do you expect it to get that down?
Now.

Why is it so huge?

Let's assume my subminuette wave count is correct (haha big assumption). That would make yesterdays low to todays 161.8FE wave 5 of 5 as posted.

Regardless of whether or not a new uptrend is now beginning - we should at least test 50% of this hypothesised wave 5 to make our next move.

50% of wave 5 squarely placed at 0.8786, H1 0/8MML at 0.8789 with H4 50EMA below. These are also places the downtrend could resume.
  • #16,076
  • Feb 10, 2010 7:22pm Feb 10, 2010 7:22pm
Quoting jerome
I did the samething with FXCM I place a buystop @ 88100 they fill my order @ 88530 for break even so at the 88100 I was in the negative until it reach the 88530 and there explaination was low liquidity and that I was fill at the net available slot can you believe that, I'm still in the trade but just now in the postive with 8 pip so far. Is this unheard of or what. I was down 43 pip why because I place a pending order in the right direction before the news. It's crazy
Move on, don't dwell on the last trade.
Play again, Protect Capital & Gains.
  • #16,077
  • Feb 10, 2010 7:22pm Feb 10, 2010 7:22pm
Quoting jerome
I did the samething with FXCM I place a buystop @ 88100 they fill my order @ 88530 for break even so at the 88100 I was in the negative until it reach the 88530 and there explaination was low liquidity and that I was fill at the net available slot can you believe that, I'm still in the trade but just now in the postive with 8 pip so far. Is this unheard of or what. I was down 43 pip why because I place a pending order in the right direction before the news. It's crazy
my SL didn't work. I got screwed also. Happens during news or gaps up
  • #16,078
  • Feb 10, 2010 7:25pm Feb 10, 2010 7:25pm
Quoting Clouds
my SL didn't work. I got screwed also. Happens during news or gaps up
Without Tokyo interbank providing crucial liquidity to this pair during the Asian session, you can almost be guaranteed for this sort of thing to happen.

Hey amyc, what did I say? Tokyo on holidays: gold shoots.
  • #16,079
  • Feb 10, 2010 7:32pm Feb 10, 2010 7:32pm
Quoting amyc
yes
I with u on target! Let's make pips
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  • #16,080
  • Feb 10, 2010 7:37pm Feb 10, 2010 7:37pm
Quoting sinner-
Now.

Why is it so huge?

Let's assume my subminuette wave count is correct (haha big assumption). That would make yesterdays low to todays 161.8FE wave 5 of 5 as posted.

Regardless of whether or not a new uptrend is now beginning - we should at least test 50% of this hypothesised wave 5 to make our next move.

50% of wave 5 squarely placed at 0.8786, H1 0/8MML at 0.8789 with H4 50EMA below. These are also places the downtrend could resume.
I see what you saying, but looking at such previous reports which came out in Jan and Dec, price retraced 23.6 and 61.8 respectively and the data was a little better this month. I understand that pros could use the news for themselves, but as of right now I ain't see much profit taking. So, there shouldn't be a dramatic fall tonight. DXY is somewhat short term bearish. I think it will be clearer befor NY opens
Good luck!
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