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AUD/USD

  • #20,641
  • Mar 31, 2010 2:54am Mar 31, 2010 2:54am
Quoting Saxon
Ya, I am off AUD for a few hours until there is some direction. I just made some pips watching M15 GBP/USD flirting with 100MA. It was bound to take a dip and finally did.

For AUD, remember back a day or so ago when we were showing significance on 91365. Looks like we are back there. I want 91631 to contain us as MAs move down to support. Right now I am really watching my M30 window.

Also, been watching HKD for fun; trying to make some sense of it. Man that thing's slow. Some people meditate to calm down, I watch HKD
yeah looks like range bound now between 9160 and 91365
u're right this 91365 proves to be significant yet again
breaking it means 9080?

i saw g/u just shot up, still a scary pair to me perhaps will touch in the future

lol watch HKD to meditate rofl! my broker/platform doesn't have HKD else i'd love to see how it behaves, i think all the bulls and bears just die there, of boredom
  • #20,642
  • Mar 31, 2010 3:04am Mar 31, 2010 3:04am
Quoting OvT
yeah looks like range bound now between 9160 and 91365
u're right this 91365 proves to be significant yet again
breaking it means 9080?

i saw g/u just shot up, still a scary pair to me perhaps will touch in the future

lol watch HKD to meditate rofl! my broker/platform doesn't have HKD else i'd love to see how it behaves, i think all the bulls and bears just die there, of boredom
Ya man, watching HKD is like watching bingo at a retirement home, not too exciting

Na, i didn't ride GBP for too long, took some pips and moved on. Ya, GBP is expensive and I only get in if I see something good. My pool is asia/pacific so I gotta try to keep to the theme, but I diverge from time to time

Ya, AUD seems to be re-assessing direction, but I am feeling bearish, however, I don't have any open positions right now so that is easy for me to say (you know, walk the walk, talk the talk kinda thing).

I do wish to see a break of 91365 and if we do I have a TL, significant MA and a stationary S/R between us and 23.6 fib. Fib also near 91000 which should be interesting.

Will post my chart soon
  • #20,643
  • Mar 31, 2010 3:17am Mar 31, 2010 3:17am
I am still bearish on this pair. The Daily TL has held despite the big surge and yesterday saw a fairly strong reversal.

On the 4H, the 38.2% Fibonacci and the 4H TL-turned-Support are stalling the decline and forcing a correction, but I am expecting the overall trend to reassert itself.

Lastly, if you look at the November decline, it was just as jagged and full of corrections, but it still kick off a solid downward trend.
Attached Image (click to enlarge)
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  • #20,644
  • Mar 31, 2010 3:23am Mar 31, 2010 3:23am
Hi Identify,
Good eye. I got the same thing (see attached H1 chart). Ya, that is TL between us and 91000. I'll wait to see the PA interaction with it, but when we get there it could present a nice situation.


Quoting IdentifyTren
Possible trade?? Looks promising
Attached Image (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 176 KB
  • #20,645
  • Mar 31, 2010 3:25am Mar 31, 2010 3:25am
Quoting George C
I am still bearish on this pair. The Daily TL has held despite the big surge and yesterday saw a fairly strong reversal.

On the 4H, the 38.2% Fibonacci and the 4H TL-turned-Support are stalling the decline and forcing a correction, but I am expecting the overall trend to reassert itself.

Lastly, if you look at the November decline, it was just as jagged and full of corrections, but it still kick off a solid downward trend.
I agree
  • #20,646
  • Mar 31, 2010 3:32am Mar 31, 2010 3:32am
? Maybe I'm reaching
Attached Image (click to enlarge)
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  • #20,647
  • Mar 31, 2010 3:49am Mar 31, 2010 3:49am
Just to divert my attention from watching the candle grow big or turn small 24/7, is there anyone here that does not feel stress when they are positioned?
I'm stressing out watching the candle!
  • #20,648
  • Mar 31, 2010 3:54am Mar 31, 2010 3:54am
Quoting GoldenGold
Just to divert my attention from watching the candle grow big or turn small 24/7, is there anyone here that does not feel stress when they are positioned?
I'm stressing out watching the candle!
Hell ya I get stressed, haha. That is why I have an XBOX right next to my computer. Whip out some call of duty when I got an open position in a slow moving market to help take the mind off it . In all seriousness though. Which way are you positioned? If you have some good S/R and what not, it will help you deal, psychologically, when you are IN the market. What is your position like?
  • #20,649
  • Mar 31, 2010 4:01am Mar 31, 2010 4:01am
Quoting Saxon
Hell ya I get stressed, haha. That is why I have an XBOX right next to my computer. Whip out some call of duty when I got an open position in a slow moving market to help take the mind off it . In all seriousness though. Which way are you positioned? If you have some good S/R and what not, it will help you deal, psychologically, when you are IN the market. What is your position like?
I shorted at 9115 yesterday (which was stupid), shorted again at 9170 this morning after the news.
Looking for a break of 9129, but look at where it's heading now, wrong way!
  • #20,650
  • Mar 31, 2010 4:01am Mar 31, 2010 4:01am
Quoting OvT
yeah looks like range bound now between 9160 and 91365
u're right this 91365 proves to be significant yet again
breaking it means 9080?

i saw g/u just shot up, still a scary pair to me perhaps will touch in the future

lol watch HKD to meditate rofl! my broker/platform doesn't have HKD else i'd love to see how it behaves, i think all the bulls and bears just die there, of boredom
Looks like the EUR news might take us out of the range
  • #20,651
  • Mar 31, 2010 4:04am Mar 31, 2010 4:04am
Quoting GoldenGold
Just to divert my attention from watching the candle grow big or turn small 24/7, is there anyone here that does not feel stress when they are positioned?
I'm stressing out watching the candle!
Its normal to be stressed out when you're new at forex trading...
When your experience builds, your confidence and skills get a major overhaul..
But if you've been trading forex for years and feel stressed, that might mean you're not confident in your trades or that you're using too much leverage for your trades.

Try the below, some useful hints:
http://www.aboutcurrency.com/article...ou_trade.shtml
  • #20,652
  • Mar 31, 2010 4:13am Mar 31, 2010 4:13am
I know what you mean, I have been short all day and this range breakout has me a little uneasy, I have hedged on the way up but need to determine if its a retracement of if I should close shorts.
  • #20,653
  • Mar 31, 2010 4:13am Mar 31, 2010 4:13am
Quoting IdentifyTren
Its normal to be stressed out when you're new at forex trading...
When your experience builds, your confidence and skills get a major overhaul..
But if you've been trading forex for years and feel stressed, that might mean you're not confident in your trades or that you're using too much leverage for your trades.

Try the below, some useful hints:
http://www.aboutcurrency.com/article...ou_trade.shtml
I'm still new to forex and still searching for a system that suits me.
Need to gain more experience before I can call myself a "steady" trader. lol.
That was a good article. Cheers IdentifyTren
  • #20,654
  • Mar 31, 2010 4:14am Mar 31, 2010 4:14am
Quoting GoldenGold
Just to divert my attention from watching the candle grow big or turn small 24/7, is there anyone here that does not feel stress when they are positioned?
I'm stressing out watching the candle!
What I sometimes like to do is to keep multiple positions open on different pairs (possible with technical analysis, but far trickier with fundamentals). When you see some of those turn against you and others in your favour, it will quickly put into perspective that while some of your trades might be losers, so long as your approach is sound, you'll be making profit overall.

The single biggest mistake to avoid - and one that every new trader, myself included, made when starting out - was to overleverage yourself, put a stoploss equal to something like 20% of your account and then faint whenever the market turns even by one pip against you.

If you think about it, even the highest recommended risk - 5% of account - isn't that much. If you've a $10,000 account and lose 5%, that's $500 - unpleasant, to be sure, but would you really ever obsess, stress and lose it over losing $500? When there's $9,500 more where it came from?

Confidence starts with faith in your trading approach - something that I found comes easier when your trading something that makes sense to you (as opposed to a system with 20+ indicators that tells you to start shorting when this crosses this, and this is above that, and that is green, and this is blue, and that has done the moonwalk and crossed into bear territory).



EDIT: Forgot to add - to each their own, but I found trading on longer timeframes (Daily) a lot more relaxing. Although you have to allow for a bigger drawdown, you tend to get a lot less whipsaws and the trends and patterns are more readily apparent. It also means you can relax a little about individual price movements, because you know from the start that your position will have its good days and bad days.
  • #20,655
  • Mar 31, 2010 4:22am Mar 31, 2010 4:22am
Looks likes this is the short trend to watch
I'm very bearish looking at (don't laugh) .8500

Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #20,656
  • Mar 31, 2010 4:32am Mar 31, 2010 4:32am
I am short from an average price of 0.9162 and looking to hold, will see how it goes
  • #20,657
  • Mar 31, 2010 4:34am Mar 31, 2010 4:34am
I would for it to get there!!!

When do you expect for this to work out?


Quoting USD-Bear
Looks likes this is the short trend to watch
I'm very bearish looking at (don't laugh) .8500

Attachment
  • #20,658
  • Mar 31, 2010 4:38am Mar 31, 2010 4:38am
shorters I would be careful, unless price can close by 5pm NY time below the April PP, currently 9116, it will be going to 9274 at least.
Attached Image (click to enlarge)
Click to Enlarge Name: au.GIF Size: 18 KB
  • #20,659
  • Mar 31, 2010 4:40am Mar 31, 2010 4:40am
does anybody put in consideration tha AU might become strongly bullish with target ,95x??
I mean it is heading TL already so 4th time and news seem not matter at all.
  • #20,660
  • Mar 31, 2010 4:41am Mar 31, 2010 4:41am
Quoting stwk81
I would for it to get there!!!

When do you expect for this to work out?
mmm, difficult question, would guess some 14 trading days.....
Don't be a hero. Don't have an ego. Always question yourself
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