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AUD/USD

  • #16,321
  • Feb 12, 2010 3:46am Feb 12, 2010 3:46am
we are in for a run up by the sounds of things,
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Find a job that you love and you dont have to work again in your life.
  • #16,322
  • Feb 12, 2010 3:48am Feb 12, 2010 3:48am
Channels rarely last. My chart says sell. I am not a fundamental trader.
If I do get stopped out, I'll re-enter higher.

OK you are trading at a different time-frame to myself. My most short-term chart is 1 week with 30 min bars. Plus a 1 year chart to remind oneself of where we are in the big picture of things.

Scalping is high-risk and you need to at least factor fundamentals into the equation, otherwise you may as well be playing roulette.

Having said that.. there does appear to be resistance at 8912 so maybe it'll drop near 8875 again tonight which is some nice pocket money. Good luck!
  • #16,323
  • Feb 12, 2010 3:53am Feb 12, 2010 3:53am
Quoting sinner-
Fundamentals do not agree with buying.

Only greed.
We know AUD is overvalued, but overseas they are looking for excuses to bid the bloated carcass back to mid-90s. Anticipating other's greed is a valid trading tactic.
  • #16,324
  • Feb 12, 2010 3:55am Feb 12, 2010 3:55am
Quoting Clouds
I'd like see the channel you see also, cause i see it respecting the bottom of the channel, but not the top, only resistance (for certain) i see is 9320
I missed out on the S&P but caught the ASX200 in time. My gold short is bleeding a bit, but I think by late NY session I should be ok.
On the astrological chart, Sun hour ( 8:45 - 9:38 PM Sydney) favours AUD, 80% of the times ( I have it charted in excel) pushes it up. It did exactly the same tonight.
Find a job that you love and you dont have to work again in your life.
  • #16,325
  • Feb 12, 2010 3:56am Feb 12, 2010 3:56am
EU is at 1.36 now, if it breaks, could be in for a AU spill
  • #16,326
  • Feb 12, 2010 3:58am Feb 12, 2010 3:58am
Quoting Clouds
EU is at 1.36 now, if it breaks, could be in for a AU spill
Yep
  • #16,327
  • Feb 12, 2010 3:58am Feb 12, 2010 3:58am
Thar she goes, very quick drop! Well done
  • #16,328
  • Feb 12, 2010 3:59am Feb 12, 2010 3:59am
nice drop
  • #16,329
  • Feb 12, 2010 4:02am Feb 12, 2010 4:02am
alright, going to bed, stop moved to be, see u at 8750
  • #16,330
  • Feb 12, 2010 4:03am Feb 12, 2010 4:03am
Some sort of rate increase in China, also
  • #16,331
  • Feb 12, 2010 4:04am Feb 12, 2010 4:04am
Damn what just happened I just was dozing off when the alarm went off on my MT 4 to tell me my target profit @0.8850 has been hit !! that was much quicker than I thought lol out of all shorts now with pips profit thanks
  • #16,332
  • Feb 12, 2010 4:06am Feb 12, 2010 4:06am
Quoting Daytrader74
Damn what just happened I just was dozing off when the alarm went off on my MT 4 to tell me my target profit @0.8850 has been hit !! that was much quicker than I thought lol out of all shorts now with pips profit thanks
its the energizer bunny, it keeps going and going
  • #16,333
  • Feb 12, 2010 4:07am Feb 12, 2010 4:07am
congrats to aussie trader who kept shorting this pair
I think we reverse on fib retarcement finally , just keep an eye on R>S at .8800 I think we may see some buy order there
+ E/U breakout to the downside will put more selling pressure on this one
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  • #16,334
  • Feb 12, 2010 4:09am Feb 12, 2010 4:09am
Quoting Daytrader74
Damn what just happened I just was dozing off when the alarm went off on my MT 4 to tell me my target profit @0.8850 has been hit !! that was much quicker than I thought lol out of all shorts now with pips profit thanks
China just raised reserve requirement ratio again.... Total surprise, risk trade off.
  • #16,335
  • Feb 12, 2010 4:09am Feb 12, 2010 4:09am
Targets hit!!!!!!. Exiting shorts in AUD. I think the fall in DOW is still coming! Congrats to all....
Find a job that you love and you dont have to work again in your life.
  • #16,336
  • Feb 12, 2010 4:11am Feb 12, 2010 4:11am
Support @ 8840?
  • #16,337
  • Feb 12, 2010 4:12am Feb 12, 2010 4:12am
Quoting Squarepants
Support @ 8840?
8840 is only minor support major is 8780
  • #16,338
  • Feb 12, 2010 4:13am Feb 12, 2010 4:13am
Quoting Squarepants
Support @ 8840?
not sure, but EU broke 1.36, so i'd expect 200-300 pip move down from here, over the next days
  • #16,339
  • Feb 12, 2010 4:16am Feb 12, 2010 4:16am
Quoting Daytrader74
8840 is only minor support major is 8780
Solid support at 8830. It needs to test it a few times before it breaks. Going short again at 8847
Find a job that you love and you dont have to work again in your life.
  • #16,340
  • Feb 12, 2010 4:16am Feb 12, 2010 4:16am
The movement we just had was due to a news event out of China, how does EU factor in?
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