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AUD/USD

  • #20,301
  • Mar 29, 2010 9:51am Mar 29, 2010 9:51am
Quoting egkid
Hi all
Just back from my work
Still Hold
2 positions 9175 , 9235
Long or short? (sorry, brain meltdown after starting at the charts while reviewing reports all day long)
  • #20,302
  • Mar 29, 2010 9:57am Mar 29, 2010 9:57am
Quoting George C
Long or short? (sorry, brain meltdown after starting at the charts while reviewing reports all day long)
Sell bro
AUD/U , NZD/U Paying hard to get but it's ok as long as have a plan
  • #20,303
  • Mar 29, 2010 10:01am Mar 29, 2010 10:01am
Quoting egkid
Sell bro
Sweet - nice to see that there are still some bears left in here. On Friday, I was cheerfully celebrating my business acumen at getting into the trade at 0.9119 and savouring the profits in my Oanda account - I can't believe that today I'm in the red

Oh, FOREX, I love you...
  • #20,304
  • Mar 29, 2010 10:04am Mar 29, 2010 10:04am
Quoting George C
Sweet - nice to see that there are still some bears left in here. On Friday, I was cheerfully celebrating my business acumen at getting into the trade at 0.9119 and savouring the profits in my Oanda account - I can't believe that today I'm in the red

Oh, FOREX, I love you...
My H4 candle closed. One concern... she is lifting her top (upper BB). Hopefully she puts it back down, I've seen enough of that!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,305
  • Mar 29, 2010 10:06am Mar 29, 2010 10:06am
Quoting George C
Sweet - nice to see that there are still some bears left in here. On Friday, I was cheerfully celebrating my business acumen at getting into the trade at 0.9119 and savouring the profits in my Oanda account - I can't believe that today I'm in the red

Oh, FOREX, I love you...
It can certainly be frustrating at times, with the AUD right about to lose the 0.90 handle on Friday and now seeing it near 0.9150... the AUD can easily lose 0.85 or even 0.80 when US stocks finally sell-off (at which time I'll start building a long postion in AUD)... we're gettin there, DOW may want to still touch 11,000 (this week), then I believe it's finally downhill for a little while...
  • #20,306
  • Mar 29, 2010 10:38am Mar 29, 2010 10:38am
Certainly, the trend pattern would indicate an eventual move to 0.85, which is why I got onto to this bandwagon when I did...
  • #20,307
  • Mar 29, 2010 10:50am Mar 29, 2010 10:50am
Unless a clear strong break up (which I do not expect), the risk in going long on this pair is really high. We are at high ranges not seen for a couple of years.

If someone buys into this move, they should be prepared to hold it for a long time with 1000 pip drawdowns. It is not out of the question.

I think it is a better plan to....
Buy low and Sell High,
I don't Buy at highs to sell higher, I find something else to trade.


Take care,
BR



Quoting George C
Sweet - nice to see that there are still some bears left in here. On Friday, I was cheerfully celebrating my business acumen at getting into the trade at 0.9119 and savouring the profits in my Oanda account - I can't believe that today I'm in the red

Oh, FOREX, I love you...
  • #20,308
  • Mar 29, 2010 11:00am Mar 29, 2010 11:00am
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,309
  • Mar 29, 2010 11:17am Mar 29, 2010 11:17am
Another surge, now to 0.9167 - we're getting perilously close to the 0.92 level that would invalidate the trend completely.

And still no one knows what happened...
  • #20,310
  • Mar 29, 2010 11:18am Mar 29, 2010 11:18am
Quoting egkid
Sell bro
AUD/U , NZD/U Paying hard to get but it's ok as long as have a plan
Great Call!
Find a job that you love and you dont have to work again in your life.
  • #20,311
  • Mar 29, 2010 11:22am Mar 29, 2010 11:22am
I guess this is a great way for the market makers to clear the board!

Like this 15min candle Anyways! Oh what a day! A Lost Day of Time!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,312
  • Mar 29, 2010 11:34am Mar 29, 2010 11:34am
Quoting MarcVUM
I guess this is a great way for the market makers to clear the board!

Like this 15min candle Anyways! Oh what a day! A Lost Day of Time!
Ya, I had some technical issues with one of my computers, so I had to step off the desk for a bit. Doesn't look like I missed too much PA though.
  • #20,313
  • Mar 29, 2010 11:36am Mar 29, 2010 11:36am
Quoting Saxon
Ya, I had some technical issues with one of my computers, so I had to step off the desk for a bit. Doesn't look like I missed too much PA though.
Saxon, you didn't miss much today. Question, do you see a reversal coming with your indicators?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,314
  • Mar 29, 2010 11:43am Mar 29, 2010 11:43am
Quoting Saxon
The only thing I got between here an 92 is ~91631. But that is a minor S/R. We'll see what 91365 brings though.
I don't know. I thought that this was going to only be minor S/R, see above.
  • #20,315
  • Mar 29, 2010 11:46am Mar 29, 2010 11:46am
Quoting MarcVUM
Saxon, you didn't miss much today. Question, do you see a reversal coming with your indicators?
I want to believe that today was just a one-off situation and that the markets will resume their prior direction in a few hours. If we do head back down, wonder how the H4 TL is going to interact with PA and might cause a longer consolidation.
  • #20,316
  • Mar 29, 2010 11:48am Mar 29, 2010 11:48am
Quoting Saxon
I don't know. I thought that this was going to only be minor S/R, see above.
Ok, so with your S/R and the weekly R at 9157 we should be set for a retracement with such an extended lift to the upside. I see it coming on my H4 but I can't predict the timing. I think it will happen within the next 8 hours but it may be 10 hours or 10 minutes for all I know.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,317
  • Mar 29, 2010 11:49am Mar 29, 2010 11:49am
Quoting MarcVUM
Saxon, you didn't miss much today. Question, do you see a reversal coming with your indicators?
Also, if you run a fib off 4hr high, we are 61.8 right now.
  • #20,318
  • Mar 29, 2010 11:51am Mar 29, 2010 11:51am
Quoting Saxon
I want to believe that today was just a one-off situation and that the markets will resume their prior direction in a few hours. If we do head back down, wonder how the H4 TL is going to interact with PA and might cause a longer consolidation.
Do you mind sharing a chart of how you draw your 4H TL? On mine, it seems to have been pierced whichever way you slice it, and broken too if you include the high wicks of .9251 on Mar 17.

EDIT: Good to have you back!
  • #20,319
  • Mar 29, 2010 11:58am Mar 29, 2010 11:58am
Quoting George C
Do you mind sharing a chart of how you draw your 4H TL? On mine, it seems to have been pierced whichever way you slice it, and broken too if you include the high wicks of .9251 on Mar 17.

EDIT: Good to have you back!
Ya, we did go through it a little while ago. My concern is that on the way back down, it will prevent us from falling too fast. The attched chart is what I am worried about. TL changing S/R roles
Attached Image (click to enlarge)
Click to Enlarge Name: fib.jpg Size: 208 KB
  • #20,320
  • Mar 29, 2010 12:00pm Mar 29, 2010 12:00pm
Quoting George C
Do you mind sharing a chart of how you draw your 4H TL? On mine, it seems to have been pierced whichever way you slice it, and broken too if you include the high wicks of .9251 on Mar 17.

EDIT: Good to have you back!
Oh, sorry, I didn't mean draw it back that far. Just from 4hr high around March 17. You can see it easier on H1 frame
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