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AUD/USD

  • #22,281
  • Jul 1, 2010 10:26am Jul 1, 2010 10:26am
gbp-us and euro-us climbed more than 200pips...
aud-us just few pips n went down again... so unpredictable..
Steady as the beating drum,,,
  • #22,282
  • Jul 1, 2010 10:51am Jul 1, 2010 10:51am
still in from 8355 still havent taken profit but am thinking about moving the stop to break even but id rather monitor whats going on and get out my self it looks a bit troubled
  • #22,283
  • Jul 1, 2010 10:55am Jul 1, 2010 10:55am
this could be also shaping up as a head and shoulders so a break below 8355 could get me out at break even and id be prepared to short till around 8280 gona see what happens id rather hold my position and stay till 8420 if possible
  • #22,284
  • Jul 1, 2010 11:30am Jul 1, 2010 11:30am
im still just about in this one have to see what happens im thinking i should of taken the 40 pips but u got to trade the plan or u aint gona get what you want
  • #22,285
  • Jul 1, 2010 12:26pm Jul 1, 2010 12:26pm
nice one its hit 8420 taken profit might short now till 8370
  • #22,286
  • Jul 2, 2010 7:46am Jul 2, 2010 7:46am
PA overall up on this news, bullish movement. I believe we should test 8550 then next week possibly 8600 which could be a rejection. USD Risk is high.
Know when to hold em, Know when to fold em!
  • #22,287
  • Jul 2, 2010 8:08am Jul 2, 2010 8:08am
long entered at 61.8% retracement of 8859H and 8065L @8374.

planning to accumulate for interest. Not sure if thats safe or whether I should still be in scalping mode in case we have a double dip down to the 70s.
I have no enemy; I make Incautiousness my Enemy.
  • #22,288
  • Jul 2, 2010 8:16am Jul 2, 2010 8:16am
Quoting jimobiwan
long entered at 61.8% retracement of 8859H and 8065L @8374.

planning to accumulate for interest. Not sure if thats safe or whether I should still be in scalping mode in case we have a double dip down to the 70s.
well the last 4 hours or sometime more than that I think we have seen the double dip down, right now we have hit a tripple bottom in this trading zone, I would put more weight on demand orders than I would at supply right now. I have a long from last night I had to hedge and scale down some of the draw, ill most likely look to hedge my position closer to the 8400 level while going into the weekend.

It seems that pending buy orders are getting hit and causing pa to rise again, We may be on a corrective wave from this overall downtrend or pullback whichever it turns out to be, these past weeks or so. Have you looked at that hammer on the daily at the bottom of the chart, That is key for for aud

By the way would you be kind enough the throw your retracement chart up I would like to see the tf and the false downside break leading you to your sentiment. Thanks

I am also seeing a bullish gartley on the 30 min tf since last night which seems to be coming into play right now.
Know when to hold em, Know when to fold em!
  • #22,289
  • Jul 2, 2010 8:39am Jul 2, 2010 8:39am
Looking at 4 hr chart I hope this 4 hr candle closes as a bullish engulfing from this pullback
Know when to hold em, Know when to fold em!
  • #22,290
  • Jul 2, 2010 8:48am Jul 2, 2010 8:48am
Quoting goods
well the last 4 hours or sometime more than that I think we have seen the double dip down, right now we have hit a tripple bottom in this trading zone, I would put more weight on demand orders than I would at supply right now. I have a long from last night I had to hedge and scale down some of the draw, ill most likely look to hedge my position closer to the 8400 level while going into the weekend.

It seems that pending buy orders are getting hit and causing pa to rise again, We may be on a corrective wave from this overall downtrend or pullback...
YES here it is. AUD is the chart on the top left.

I am new at this, i dont know how to send a chart other than a print-screen.
Attached Image (click to enlarge)
Click to Enlarge Name: SCN PRN.jpg Size: 276 KB
I have no enemy; I make Incautiousness my Enemy.
  • #22,291
  • Jul 2, 2010 9:14am Jul 2, 2010 9:14am
Quoting jimobiwan
YES here it is. AUD is the chart on the top left.

I am new at this, i dont know how to send a chart other than a print-screen.

Thanks i see are you using the 4 hr candle about 3 candles ago that closed above the 50% retracement?
Know when to hold em, Know when to fold em!
  • #22,292
  • Jul 2, 2010 9:55am Jul 2, 2010 9:55am
Quoting goods
Thanks i see are you using the 4 hr candle about 3 candles ago that closed above the 50% retracement?
Yes i look at the long TFs except XAU where i also look at shorter frames.

Calms things down for me and stops me from jumping in and out.
I have no enemy; I make Incautiousness my Enemy.
  • #22,293
  • Jul 2, 2010 10:04am Jul 2, 2010 10:04am
Quoting jimobiwan
Yes i look at the long TFs except XAU where i also look at shorter frames.

Calms things down for me and stops me from jumping in and out.
What is the rule of thumb on when a candle closes above a fib level on a retracement which is valid? Is it the first candle such as if the first candle close above it after the initial break of the fib test level?
Know when to hold em, Know when to fold em!
  • #22,294
  • Jul 2, 2010 11:05am Jul 2, 2010 11:05am
Quoting goods
What is the rule of thumb on when a candle closes above a fib level on a retracement which is valid? Is it the first candle such as if the first candle close above it after the initial break of the fib test level?
looking at the 4H candles, i had my sights on the 61.8%. first candle closed below. second was an inside candle but to me, a pause of sorts. third one was rejection of higher prices and closed below still but the lows are all higher. so on the next one i just set the price and it hit with a nice bar.

But often i will take the buy on a falling first candle. things dont fall in a straight line and I should be able to get unstuck if it flaps about as evidenced by the flap after it hit the 50% fib
I have no enemy; I make Incautiousness my Enemy.
  • #22,295
  • Jul 2, 2010 12:51pm Jul 2, 2010 12:51pm
What you guys think about shorting EURAUD?? Looks overbought
  • #22,296
  • Jul 4, 2010 4:42pm Jul 4, 2010 4:42pm
from forex live

AUD/USD saw some heavy selling from macro funds at the end of last week. If global growth worries persist and stockmarkets remain heavy, then I would expect the AUD/USD to fall towards 80 cents in the next few weeks. If USD/JPY breaks below 87, then this will also put some very heavy pressure on AUD/JPY. EUR/AUD continues its march higher and is closing in on 1.50 again, 1.58 remains my target here.
  • #22,297
  • Jul 4, 2010 7:17pm Jul 4, 2010 7:17pm
Quoting Predi
What you guys think about shorting EURAUD?? Looks overbought
It depends...if you say it looks overbought, on which timeframe are you talking about? Is it overbought on all timeframes? Definitely not so... Find your own time frame/s study how it/they work and master it/them properly, then you can decide Ob or Os levels at any given time according to reliable analytical method. Just remember, history simply repeats itself often in the currency market.
  • #22,298
  • Jul 4, 2010 8:19pm Jul 4, 2010 8:19pm
talk of Bomb scare JFK
  • #22,299
  • Jul 4, 2010 8:34pm Jul 4, 2010 8:34pm
job ads just out 2.7% last month 4.3% lower than expected
  • #22,300
  • Jul 4, 2010 8:40pm Jul 4, 2010 8:40pm
And it climbs?
This is way fundamentals are a joke, and technicals are the only worthwhile trade methodology.
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