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AUD/USD

  • #16,081
  • Feb 10, 2010 7:39pm Feb 10, 2010 7:39pm
Quoting Daytrader74
Move on, don't dwell on the last trade.
Play again, Protect Capital & Gains.


What trade? my eyez are on the next prize

Daytrader, Good simple advice
thx
  • #16,082
  • Feb 10, 2010 7:40pm Feb 10, 2010 7:40pm
Quoting Clouds
I with u on target! Let's make pips
Attachment
You have an awful lot of charts Clouds.

I do agree with you, I smell a reversal coming probably London or NY session tonight, it would be nice if it would do 8875 first though.
My charts have the same setups as Jan 14, where soon after the unemployment news was released we posted the last high at 9330.

Yes you were right Sinner.
  • #16,083
  • Feb 10, 2010 7:40pm Feb 10, 2010 7:40pm
Quoting jerome
What trade? my eyez are on the next prize

Daytrader, Good simple advice
thx
You welcome and its good to see you already forgot about the trade and are looking for your next prize
  • #16,084
  • Feb 10, 2010 7:41pm Feb 10, 2010 7:41pm
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
No, it's not unheard of, it is quite normal filling during spikes and it was done (99,9%) automatically, without any malevolent manual action.
During news, you must always use stop-limit or limit-stop orders, never stop-market!
After all, it should be a good practice to use them always, not only during news spikes...
  • #16,085
  • Feb 10, 2010 7:41pm Feb 10, 2010 7:41pm
Quoting amyc
You have an awful lot of charts Clouds.

I do agree with you, I smell a reversal coming probably London or NY session tonight, it would be nice if it would do 8875 first though.
My charts have the same setups as Jan 14, where soon after the unemployment news was released we posted the last high at 9330.

Yes you were right Sinner.
I took a short @0.8840 and looking to add to it @0.8870
  • #16,086
  • Feb 10, 2010 7:41pm Feb 10, 2010 7:41pm
Quoting Clouds
I with u on target! Let's make pips
Attachment
Talk on the wire of well touted bids around 0.87 handle with corporate offers into 0.885.

I am only worried about 8911. Sellers might be waiting up there to join in before we drop. Otherwise - as far as I am concerned - this was just a rally to confirm the price breakout which occurred last Wednesday and we should move down from here like a stone.
  • #16,087
  • Feb 10, 2010 7:45pm Feb 10, 2010 7:45pm
Quoting amyc
You have an awful lot of charts Clouds.

I do agree with you, I smell a reversal coming probably London or NY session tonight, it would be nice if it would do 8875 first though.
My charts have the same setups as Jan 14, where soon after the unemployment news was released we posted the last high at 9330.

Yes you were right Sinner.
i'm just way too bearish. ill move my SL to BE if later, if it wants to try higher, hopefully my SL will work this time
  • #16,088
  • Feb 10, 2010 7:49pm Feb 10, 2010 7:49pm
Quoting amyc

Yes you were right Sinner.
Still just speculation on my part mate, no idea how or why this seems to happen every Tokyo holiday.

If I did - I would only trade gold on Tokyo holidays and make a killing.
  • #16,089
  • Feb 10, 2010 7:50pm Feb 10, 2010 7:50pm
Quoting Daytrader74
I took a short @0.8840 and looking to add to it @0.8870
I took a short at 0.8855; if this rally continues toward 0.8900, I will scale in but I see it turning around soon.
  • #16,090
  • Feb 10, 2010 7:50pm Feb 10, 2010 7:50pm
the point i was trying make with chart was 8874-ish was high of october, before move into 90's, so 'just maybe' it goes down same way it went up
  • #16,091
  • Feb 10, 2010 7:51pm Feb 10, 2010 7:51pm
Quoting sinner-
Talk on the wire of well touted bids around 0.87 handle with corporate offers into 0.885.

I am only worried about 8911. Sellers might be waiting up there to join in before we drop. Otherwise - as far as I am concerned - this was just a rally to confirm the price breakout which occurred last Wednesday and we should move down from here like a stone.
Agree. I knew it would break 8800 but this was just too fast. It has to consolidate closer to 8810 or 8800 before more of a trend up. There are buckets of resistance at 8900. Any concerted move above those levels will be a Waterloo for shorts (though I still think AUD is a dog long-term).
  • #16,092
  • Feb 10, 2010 7:52pm Feb 10, 2010 7:52pm
thats why your sl should be set to b/e at this point

Quoting Clouds
the point i was trying make with chart was 8874-ish was high of october, before move into 90's, so 'just maybe' it goes down same way it went up
Annoying Precision
  • #16,093
  • Feb 10, 2010 7:55pm Feb 10, 2010 7:55pm
Quoting erikte279
thats why your sl should be set to b/e at this point
i will when i can, -10 now
  • #16,094
  • Feb 10, 2010 7:55pm Feb 10, 2010 7:55pm
Quoting sinner-
Talk on the wire of well touted bids around 0.87 handle with corporate offers into 0.885.

I am only worried about 8911. Sellers might be waiting up there to join in before we drop. Otherwise - as far as I am concerned - this was just a rally to confirm the price breakout which occurred last Wednesday and we should move down from here like a stone.

I completely agree about the dropping like a stone part. I think there is still a high chance that we see 8553 this week. From 8900 that is a 347 pip drop. This week is identical in setup to the week of 23 Nov 09 from the highs that Thursday we dropped 376 pips. The conditions now are significantly more bearish than they were that week.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 19 KB
  • #16,095
  • Feb 10, 2010 8:00pm Feb 10, 2010 8:00pm
Quoting Squarepants
Agree. I knew it would break 8800 but this was just too fast. It has to consolidate closer to 8810 or 8800 before more of a trend up. There are buckets of resistance at 8900. Any concerted move above those levels will be a Waterloo for shorts (though I still think AUD is a dog long-term).
Here is a magical chart with a magical line. Some traders here might recognise this magical line.

Let's just ignore what the line actually is and pretend it is really magic.

Every time the price crosses this magic line I will draw a circle around the cross and a horizontal line going across the chart until the cross price is tested.

As you can see, the magic line is very important. Every time the price crosses it, that level MUST be tested before the next move can begin.

EDIT: Short stopped out - Will try and short from 8911 again.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 3.png Size: 35 KB
  • #16,096
  • Feb 10, 2010 8:06pm Feb 10, 2010 8:06pm
Something's not right here: a huge drop in unemployment rate, tons of new jobs... sounds like someone is working hard on fudging the numbers in Australia.
  • #16,097
  • Feb 10, 2010 8:08pm Feb 10, 2010 8:08pm
My second short lot got filled @0.8870 will add more @0.8915
  • #16,098
  • Feb 10, 2010 8:09pm Feb 10, 2010 8:09pm
Quoting sinner-
Here is a magical chart with a magical line. Some traders here might recognise this magical line.

Let's just ignore what the line actually is and pretend it is really magic.

Every time the price crosses this magic line I will draw a circle around the cross and a horizontal line going across the chart until the cross price is tested.

As you can see, the magic line is very important. Every time the price crosses it, that level MUST be tested before the next move can begin.

EDIT: Short stopped out - Will try and short from 8911 again.
I agree ... 0.8911 to 0.8920 it major resistance.. fail to break up and hold above it means Avalance...
  • #16,099
  • Feb 10, 2010 8:17pm Feb 10, 2010 8:17pm
Quoting sinner-
As you can see, the magic line is very important. Every time the price crosses it, that level MUST be tested before the next move can begin.
I give up, what are you comparing against?
  • #16,100
  • Feb 10, 2010 8:18pm Feb 10, 2010 8:18pm
Quoting Daytrader74
My second short lot got filled @0.8870 will add more @0.8915
There was a fellow trader back then, who tought not to add to a losing position. I'll cite him:"He should accumulate his line on the way up. Let him buy one-fifth of his full line. If that does not show him a profit he must not increase his holdings because he has obviously begun wrong; he is wrong temporarily and there is no profit in being wrong at any time." Larry Livingston.
Just for consideration...
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