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AUD/USD

  • #19,561
  • Mar 23, 2010 9:04am Mar 23, 2010 9:04am
Quoting tradoholic
HI Clouds,
I agree with you 100%, I think the initial jump up was the opening of NY, but we can see that it didnt have enough oomph to do any damage to the bear sentiment. This is transparent in the 1m, 5m and 15m charts shown here. I think so far as it doesnt break 9189, it should see boundaries of 910X in the NY session.
With you on that one - not only does 9189 represent the trendline of the 4H downward trend, but it's also the 61.8 Fibonacci level.

The good news is that if the trend breaks, we'll know soon enough as we're pretty close to it - but if it doesn't, bears should be looking at a nice 90xx by the end of New York.
  • #19,562
  • Mar 23, 2010 9:07am Mar 23, 2010 9:07am
Short @ 9171
Guideline 1H channel

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Don't be a hero. Don't have an ego. Always question yourself
  • #19,563
  • Mar 23, 2010 9:11am Mar 23, 2010 9:11am
Quoting George C
With you on that one - not only does 9189 represent the trendline of the 4H downward trend, but it's also the 61.8 Fibonacci level.

The good news is that if the trend breaks, we'll know soon enough as we're pretty close to it - but if it doesn't, bears should be looking at a nice 90xx by the end of New York.
couple of good news for the US economy was just published. This helps the risk sentiment, if this doesnt push it up, then shorting is the way to go. Good luck, I am short from 9174.
Find a job that you love and you dont have to work again in your life.
  • #19,564
  • Mar 23, 2010 9:12am Mar 23, 2010 9:12am
Just hit 9180 and pretty much trading on the 4H downtrend line. This is where we get some clarity, I suppose.
  • #19,565
  • Mar 23, 2010 9:22am Mar 23, 2010 9:22am
Just manually closed the trade at 9188 at near breakeven (made a very minor gain before the price soared past my entry level). With the 4H trendline clearly broken and the pair trading above the 61.80 Fibonacci, I reckon I made a good call.
  • #19,566
  • Mar 23, 2010 9:28am Mar 23, 2010 9:28am
just a quick one before i go .
how many of u did get burned?
allways change ur sentiment with the market.
market will do what it wants to do.
i told you 50% ,if flag breaks it will blast through.it did retrace to trend line.
you had lots of chance to get out.
market did give us lots of clue.

all the best .see ya
sho
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  • #19,567
  • Mar 23, 2010 9:31am Mar 23, 2010 9:31am
Quoting George C
Just manually closed the trade at 9188 at near breakeven (made a very minor gain before the price soared past my entry level). With the 4H trendline clearly broken and the pair trading above the 61.80 Fibonacci, I reckon I made a good call.
better safe than sorry. i'm still holding to it though!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,568
  • Mar 23, 2010 9:32am Mar 23, 2010 9:32am
Well, I made a very minor gain and, more importantly, acquired invaluable experience - so, on the whole, this trade could've gone worse.
  • #19,569
  • Mar 23, 2010 9:35am Mar 23, 2010 9:35am
one guy that i know from an online forum just earn $2700 and lose $4000 , all in less than 6 hours....

he got my pity.... i am a newbie before too, just like him....i share the story here to remind us all bout the importance of money management....

i dont post it there, coz i dont want to rub salt to his wound....
  • #19,570
  • Mar 23, 2010 9:39am Mar 23, 2010 9:39am
Burnt?.. more like blurred.. still barely alive by the whisker For now at least.
  • #19,571
  • Mar 23, 2010 9:39am Mar 23, 2010 9:39am
H&S
  • #19,572
  • Mar 23, 2010 9:41am Mar 23, 2010 9:41am
DAILY chart's lookin good. i sold at 200sma on hourly chart, should have held on!
  • #19,573
  • Mar 23, 2010 9:42am Mar 23, 2010 9:42am
still short, added onew more lot at 9191. SL 9210.
Find a job that you love and you dont have to work again in your life.
  • #19,574
  • Mar 23, 2010 9:46am Mar 23, 2010 9:46am
gold price spikes... hooray to gold and aud dollars
  • #19,575
  • Mar 23, 2010 9:47am Mar 23, 2010 9:47am
Not adding. Just let the trade plan work its way. If really were to break above 9200. Will just stay out. Will not go long until the Bigger broadening wedge on daily is broken decisively to the upside. May even try shorting it again higher up or upon breakdown if the 9200 looks to be faked.


PS......@#$%$ oh well, too bad, trade plan pronounced dead for time being. Will look for opportunity again.
  • #19,576
  • Mar 23, 2010 9:58am Mar 23, 2010 9:58am
Anybody here from Australia? Been thinking of immigrating. Good/Bad? Pros/Cons? Like outsiders that are willing to adopt your customs?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,577
  • Mar 23, 2010 10:25am Mar 23, 2010 10:25am
Cannot resist being a bear still.. Put back one batch short again at 9174 This time until it breaks above 9200, then will decide manually to chop or not.
  • #19,578
  • Mar 23, 2010 10:38am Mar 23, 2010 10:38am
Short another batch 9175, put back all my shorts.

Treat it as just lost 20 odd pips scalping the mkt. Still in the green for the week so far. Will just watch it closely and decide only upon break upwards of 9200.
  • #19,579
  • Mar 23, 2010 11:39am Mar 23, 2010 11:39am
Hello
Everyday i come back to check I found 9175
Well Seems like one of big banks hold long above 91 and dn't wanna the price drop under it.
What ever it is The whole situation seems to me exactly like G/U when was play hard to get above 1.62 and 1.64 then Guess what happen next....

Time best tool to TELL
  • #19,580
  • Mar 23, 2010 12:07pm Mar 23, 2010 12:07pm
Quoting egkid
Hello
Everyday i come back to check I found 9175
Well Seems like one of big banks hold long above 91 and dn't wanna the price drop under it.
What ever it is The whole situation seems to me exactly like G/U when was play hard to get above 1.62 and 1.64 then Guess what happen next....

Time best tool to TELL
just forming an H&S...., eur/usd should soon break new lows, will bring aud down, and rest of dollar currencies back to usd bullish
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