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AUD/USD

  • #22,141
  • Jun 22, 2010 2:18am Jun 22, 2010 2:18am
Yes, That is most annoying about some asian sessions, the pairs fall then just stop dead. No follow thru, I should have learned by now scalping is best "usually" during asian / aussie.....

THen london opens and often headfakes, wipes out stops and sets a new direction, continuing in the trend or a reversal.

Quoting lmyyyks
not sure what's holding back all major usd pairs, they were dropping
now i think it's likely to go up
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,142
  • Jun 22, 2010 2:24am Jun 22, 2010 2:24am
Seems like there is a lot riding on 8780 right now....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,143
  • Jun 22, 2010 3:42am Jun 22, 2010 3:42am
Hey man,

The price action does not want to seem to stay down,

Looking at the higher tfs H4 - the last bounce hit the lower trendline of current upmove. The gap is simply part of the trend, thus it's importance on closing now seems to be minimal.

i hedged a long, and I am + a few pips, a couple more pips against the short and I'm done.
Quoting lmyyyks
not sure what's holding back all major usd pairs, they were dropping
now i think it's likely to go up
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,144
  • Jun 22, 2010 3:54am Jun 22, 2010 3:54am
Quoting XTrade
Hey man,

The price action does not want to seem to stay down,

Looking at the higher tfs H4 - the last bounce hit the lower trendline of current upmove. The gap is simply part of the trend, thus it's importance on closing now seems to be minimal.

i hedged a long, and I am + a few pips, a couple more pips against the short and I'm done.
i agree, now i'm waiting for signals on 5m and 15m
  • #22,145
  • Jun 22, 2010 3:58am Jun 22, 2010 3:58am
Quoting XTrade
Seems like there is a lot riding on 8780 right now....
http://askafo.com/apic/2262010au-4654f65pj.PNG

No @
this is it, downtrennd only.
A little beginner trader since 2006
  • #22,146
  • Jun 22, 2010 4:16am Jun 22, 2010 4:16am
Hey all, my plan was to hold on and wait for complete gap close but something didn't feel right so ended up changing my TP to 0.8745... luck was on my side as it hit my level by a couple of pips so am very happy... 220 pips all up over 3 small contracts

I still think gaps will close and will look for another short entry somewhere above 0.88. Good luck all!

XTrade, regarding your earlier message, my take on Oz economy is this:
- Biggest issue is our reliance on China. To me, something ain't right about China's economy (or just the numbers they publish). I think they'll slow down soon so if a pullback happens there, Australia is in trouble.
- Other issue I see is housing affordability. House prices are at record highs and don't look like stopping. Housing shortage will help dampen any falls but any falls could hurt the economy.
- Other than that, everything else is great. Unemployment is low, wage growth is ok, interest rates good at current levels (but will probably go up further) so I think long term, oz is looking good! Mining tax is a non issue I think. It won't get approved and will be watered down big time. Hope that helps.


Quoting XTrade
Hey man,

The price action does not want to seem to stay down,

Looking at the higher tfs H4 - the last bounce hit the lower trendline of current upmove. The gap is simply part of the trend, thus it's importance on closing now seems to be minimal.

i hedged a long, and I am + a few pips, a couple more pips against the short and I'm done.
  • #22,147
  • Jun 22, 2010 4:26am Jun 22, 2010 4:26am
let hope so as im short since a few days ago and still holding
  • #22,148
  • Edited 5:18am Jun 22, 2010 5:06am | Edited 5:18am
OK I think we are FINALLY on track for closing the gap, next will be a decision on trend.

My bias will remain bullish. Unless 8550 is threatened.

EDIT: I am giving up on Gap close and paying any mind to it- I am going back to following PA,
Fundies and charting.

Good luck all.

In essence gaps don't really exist, things happen in the market when your broker is closed, plan accordingly,

Had I followed my instinct I would have been 120 pips richer from a friday decision come sunday!
Oh well,
trader's lament....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,149
  • Jun 22, 2010 5:12am Jun 22, 2010 5:12am
Thank you for taking the time to comment,
It does, and I agree.

Quoting stiven
Hey all, my plan was to hold on and wait for complete gap close but something didn't feel right so ended up changing my TP to 0.8745... luck was on my side as it hit my level by a couple of pips so am very happy... 220 pips all up over 3 small contracts

I still think gaps will close and will look for another short entry somewhere above 0.88. Good luck all!

XTrade, regarding your earlier message, my take on Oz economy is this:
-...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,150
  • Jun 22, 2010 5:47am Jun 22, 2010 5:47am
longed @.8763
hope it won't rebound from the main trendline
  • #22,151
  • Jun 22, 2010 6:31am Jun 22, 2010 6:31am
Interesting reading from Bloomberg regarding prospectives of AUD and CAD as reserve currencies

http://noir.bloomberg.com/apps/news?...QlxaHBhE&pos=3
"Luxury is one of the basic needs", (c), Don Corleone
  • #22,152
  • Jun 22, 2010 7:57am Jun 22, 2010 7:57am
Germany, France and UK all on board bank levy
  • #22,153
  • Jun 22, 2010 1:45pm Jun 22, 2010 1:45pm
The gap should be closing soon!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,154
  • Jun 22, 2010 2:14pm Jun 22, 2010 2:14pm
i have a couple trend lines for it to break, working into a wedge
R1 on weekly pivot and 50 day moving average very close together, around 0.877. will look to short either on retest of this, or break of the lower tl
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd h1.jpg Size: 129 KB
  • #22,155
  • Jun 22, 2010 2:18pm Jun 22, 2010 2:18pm
Here is my chart, and current trade.

I am still bullish - yet I feel this nagging gap is keeping the pair from further rise on the techs,
fundi wise - It seems the buzz about the yuan has worn off...

Time will tell.

We broke the triangle south, so I re-entered.

Lets see what happens on gap close. Potential bounce north?...?
Attached Image (click to enlarge)
Click to Enlarge Name: aud_trade_gap_close_june.GIF Size: 23 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,156
  • Jun 22, 2010 2:24pm Jun 22, 2010 2:24pm
Just checked another broker and it seems the gap has been filled....

If the pair can rise above the recently broken 8750 line I am looking up,
otherwise looking for further correction before buyers enter.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,157
  • Jun 22, 2010 3:14pm Jun 22, 2010 3:14pm
Quoting XTrade
Just checked another broker and it seems the gap has been filled....

If the pair can rise above the recently broken 8750 line I am looking up,
otherwise looking for further correction before buyers enter.

Yes, the gap has closed, now I am trading gap closure on EUR/AUD - there is still a long way to go
"Luxury is one of the basic needs", (c), Don Corleone
  • #22,158
  • Jun 22, 2010 5:01pm Jun 22, 2010 5:01pm
Thanks for mentioning that I will certainly take a look,

Just for follow up the gap closure on my broker and the lower uptrend line are within pips

AUD has just popped back above.

Closing short going long now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,159
  • Jun 22, 2010 5:08pm Jun 22, 2010 5:08pm
What is your entry?

Quoting Firstboss
Yes, the gap has closed, now I am trading gap closure on EUR/AUD - there is still a long way to go
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #22,160
  • Jun 22, 2010 5:30pm Jun 22, 2010 5:30pm
Also goin long EUR AUD...we will see if the gap close works out but at least itll be good for some pips....
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