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AUD/USD

  • #16,681
  • Feb 17, 2010 1:06am Feb 17, 2010 1:06am
Price on the AUD/USD pushed up some yesterday during London and US session and kind of flat lined during Sydney and Tokyo. I would still like to see price travel up a little more to 4h Resistance @ 0.9044, and then show me some selling pressure before I look for possible shorts.
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  • #16,682
  • Feb 17, 2010 1:11am Feb 17, 2010 1:11am
Quoting Clouds
i'm gonna buy at .89

.896 not a tempting support for you?
  • #16,683
  • Feb 17, 2010 1:15am Feb 17, 2010 1:15am
Quoting crak0
.896 not a tempting support for you?
Not really. TL support comes in at .89
  • #16,684
  • Feb 17, 2010 1:57am Feb 17, 2010 1:57am
Taking off now next test 91.00
  • #16,685
  • Feb 17, 2010 2:06am Feb 17, 2010 2:06am
trend on the daily candle definetly north
  • #16,686
  • Feb 17, 2010 2:19am Feb 17, 2010 2:19am
9023 strong resistance. I dont think it will break. If it does then yes we will see 91. Moreover I think the US will be weak today. I am short from 9020, SL 9035, bit risky, but I think I will be ok.
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Find a job that you love and you dont have to work again in your life.
  • #16,687
  • Feb 17, 2010 2:21am Feb 17, 2010 2:21am
Your conservative SL is wise, you could probably pick up a little profit if it goes closer to 90 again.. however there is some resistance there (?)
  • #16,688
  • Feb 17, 2010 2:25am Feb 17, 2010 2:25am
long till 91.10
  • #16,689
  • Feb 17, 2010 2:30am Feb 17, 2010 2:30am
Quoting Squarepants
Your conservative SL is wise, you could probably pick up a little profit if it goes closer to 90 again.. however there is some resistance there (?)
this is what I do when I go against the trend but only on trades that I am pretty sure of. Tight initial SL, then move SL to B/E, short initial but variable TP. So far it has worked for me, but many find it unwise.
Find a job that you love and you dont have to work again in your life.
  • #16,690
  • Feb 17, 2010 2:37am Feb 17, 2010 2:37am
Sounds like scalping to me.. the only time anyone should go countertrend.
  • #16,691
  • Feb 17, 2010 2:41am Feb 17, 2010 2:41am
Quoting Squarepants
Sounds like scalping to me.. the only time anyone should go countertrend.
You see euro didnt break the resistance, GBP also the same, they all pulled back at the same level. If DOW drops, then AUID should follow as well. I will be shorting DOW shortly
Find a job that you love and you dont have to work again in your life.
  • #16,692
  • Feb 17, 2010 2:47am Feb 17, 2010 2:47am
.27 now 91 soon
  • #16,693
  • Feb 17, 2010 3:00am Feb 17, 2010 3:00am
i found a secret down trend channel, i'm short .9020
  • #16,694
  • Feb 17, 2010 3:01am Feb 17, 2010 3:01am
Quoting tradoholic
You see euro didnt break the resistance, GBP also the same, they all pulled back at the same level. If DOW drops, then AUID should follow as well. I will be shorting DOW shortly
OK what is your rationale for the Dow to drop?
  • #16,695
  • Feb 17, 2010 3:05am Feb 17, 2010 3:05am
Quoting Squarepants
Sounds like scalping to me.. the only time anyone should go countertrend.
You are countertrend.

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  • #16,696
  • Feb 17, 2010 3:14am Feb 17, 2010 3:14am
Just took a long 10 lots @0.9009 TP @0.9020 SL @0.8998
  • #16,697
  • Feb 17, 2010 3:19am Feb 17, 2010 3:19am
I'm short to .89 and gonna double up and go long there.
  • #16,698
  • Feb 17, 2010 3:20am Feb 17, 2010 3:20am
Quoting Clouds
You are countertrend.
Yes but I am also scalping.. SL is 25 pips from BE. Although admittedly my account margin ratio is fairly low.

Also the long-term trend is down but weekly trend is up. I'll be a bear again soon.
  • #16,699
  • Feb 17, 2010 3:23am Feb 17, 2010 3:23am
Quoting Squarepants
Yes but I am also scalping.. SL is 25 pips from BE. Although admittedly my account margin ratio is fairly low.

Also the long-term trend is down but weekly trend is up. I'll be a bear again soon.
yea but even for a long, it just finished a big upmove, and should pull back 100 pips before i'd think of a countertrend trade up. take a look at a 4HR channel from the 5th.

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  • #16,700
  • Feb 17, 2010 3:39am Feb 17, 2010 3:39am
100 pip retrace doesn't seem likely with the market like this. I will however consider closing the position tonight as there is a lot of US data being released tomorrow.
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