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AUD/USD

  • #16,121
  • Feb 10, 2010 6:57pm Feb 10, 2010 6:57pm
one touch short trade, just short below .8890 sl over .8910 look at arrows that turns the trend at these points
Attached Image (click to enlarge)
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  • #16,122
  • Feb 10, 2010 6:57pm Feb 10, 2010 6:57pm
To wrap the things up fot tonight, I want to post a chart, to which I will act accordingly. Right now, on the positive news from AUS. and China price broke out of the channel and 38.2 which temporarily makes me think it still has some potential to the top side. To be certain, .895 is enough. That level is MA and 50retr with a 35-50 pip SL That is my target for shorts. If it falls back in channel, then I'll look for an enter on a smaller TF.
Good luck, gentlemen
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 34 KB
  • #16,123
  • Feb 10, 2010 6:59pm Feb 10, 2010 6:59pm
usd/chf on it's TL , from the 1.02 lows,
good one !

but if it break, expect hell to freeze over
  • #16,124
  • Feb 10, 2010 7:03pm Feb 10, 2010 7:03pm
Quoting Clouds
can't discount the risk for the usd index to have a major pullback to 76
i'm not going be trading only smaller positions this week, or scalp
I believe 76 is just too much for now. I see maximum of 78.45(in this case if it breaks it then yes - 76), but for now 79.2 should do it. Thus, taking price to the levels in aussie I wrote before. Anyway, step by step...
Attached Image (click to enlarge)
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  • #16,125
  • Feb 10, 2010 7:04pm Feb 10, 2010 7:04pm
Here we go! AUD to .70!

I call a top
  • #16,126
  • Feb 10, 2010 7:06pm Feb 10, 2010 7:06pm
nice 15 min. bearish candle i love it. i'll bet my house on this
  • #16,127
  • Feb 10, 2010 7:14pm Feb 10, 2010 7:14pm
Quoting Clouds
nice 15 min. bearish candle i love it. i'll bet my house on this
Please don't bet your house you might lose it be careful please
  • #16,128
  • Feb 10, 2010 7:14pm Feb 10, 2010 7:14pm
Quoting JanPoko
with all due respect, it's nonsence. Daytrader's logic is correct. Once you plan your trade you have considered all options and start building your position. You can hardly decide bottom or top up to a pip, so there is nothing wrong in adding when going opposite. (not that I agree with the present daytraders' conviction about bearish direction).

Besides, averaging is valid trading techinque and if you have sufficient funds and precisely calculated limits, very effective one.
Yes I agree with you
  • #16,129
  • Feb 10, 2010 7:15pm Feb 10, 2010 7:15pm
Quoting pipsbull
I believe 76 is just too much for now. I see maximum of 78.45(in this case if it breaks it then yes - 76), but for now 79.2 should do it. Thus, taking price to the levels in aussie I wrote before. Anyway, step by step...
yea it looks like the index could be hanging on by a thread
  • #16,130
  • Feb 10, 2010 7:16pm Feb 10, 2010 7:16pm
ya looks like we may be going back up...nothing is a sure bet.
Former Trader Of the Year of the 95% losing club! Retired
  • #16,131
  • Feb 10, 2010 7:21pm Feb 10, 2010 7:21pm
Shorting AUD/USD at 0.8865, TP 0.876, SL 0.8910.
  • #16,132
  • Feb 10, 2010 7:23pm Feb 10, 2010 7:23pm
Quoting shahab8b
If you find yourself in a hole, the first thing to do is stop digging
I'm not in a hole but thanks for your concern.
  • #16,133
  • Feb 10, 2010 7:26pm Feb 10, 2010 7:26pm
I say we go back down. daily charts are still very bearish. Here is au on 1hr...we have a lot of resistance to punch through.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 273 KB
  • #16,134
  • Feb 10, 2010 7:31pm Feb 10, 2010 7:31pm
Quoting Clouds
yea it looks like the index could be hanging on by a thread
I tend to think it may just be done with 38.2 retr to 79.2-.1 from 76.8, like it did the previous time from 74.2 to 78.4...
  • #16,135
  • Feb 10, 2010 7:32pm Feb 10, 2010 7:32pm
wildness of smart money...firstly it was bailout of greece ...now AU employment...
The Market pays you to be disciplined
  • #16,136
  • Feb 10, 2010 7:36pm Feb 10, 2010 7:36pm
Quoting Daytrader74
I'm not in a hole but thanks for your concern.
I'm just sharing what I experienced , look at this weekly chart, we have been ranging since 4 months ago, so it wasnt important if you dont use SL or adding to a losing position to average them. but if you do that knid of thing in a fast trending market that will kill you. it's up to you whether to apply proper money management or learn it the hard way.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie5.gif Size: 14 KB
  • #16,137
  • Feb 10, 2010 7:44pm Feb 10, 2010 7:44pm
Please help taking the polling below. Sorry for those not interested! (Need a few more voters to meet my 50 headcount target.)
  • #16,138
  • Feb 10, 2010 7:49pm Feb 10, 2010 7:49pm
Quoting kk007
Please help taking the polling below. Sorry for those not interested! (Need a few more voters to meet my 50 headcount target.)
Just voted kk007 for President
  • #16,139
  • Feb 10, 2010 8:21pm Feb 10, 2010 8:21pm
Australian employment surged past

all expectations for a fifth month running in January while the

jobless rate surprised by diving to an 11-month low, reviving

speculation of an interest rate hike as early as march.

The Australian dollar jumped over half a cent and bill

futures sank as the market priced in a much greater chance of a

rate hike at the Reserve Bank of Australia's (RBA) next policy

meeting on March 2.
  • #16,140
  • Feb 10, 2010 8:25pm Feb 10, 2010 8:25pm
The UK Times is reporting that EU leaders are poised to announce a Greece rescue package and are working through the night to ensure it is announced today at the EU Summit. The Times states that there is a sense of urgency to have the package ready in time to be announced at the Summit to save new President, Herman Van Rompuy"s first one-day summit from disaster by announcing a guarantee that Greece would not be allowed to fail. According to the Times Germany will be expected to put up most of the money despite the fact that it will infuriate German taxpayers.
The Times report might provide support for the EUR/USD, which has been very sensitive over the past 24 hours to news regarding the status of the EU/Greece package.
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