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AUD/USD

  • #23,341
  • Sep 21, 2010 8:51am Sep 21, 2010 8:51am
It has hit .9500, wonder if that will lead to a huge move down?
  • #23,342
  • Sep 21, 2010 8:53am Sep 21, 2010 8:53am
Quoting moonchild
It has hit .9500, wonder if that will lead to a huge move down?
I was thinking exactly the opposite.
  • #23,343
  • Sep 21, 2010 8:54am Sep 21, 2010 8:54am
H&S at 5min?
Use me as a contrarian indicator
  • #23,344
  • Sep 21, 2010 9:11am Sep 21, 2010 9:11am
Quoting kandarv
I was thinking exactly the opposite.
The fact that there was a fairly large pin bar associated with reaching .9500 was also a factour in my thinking.

Frankly, I never thought this pair would get up this high anyway.
  • #23,345
  • Sep 21, 2010 9:18am Sep 21, 2010 9:18am
Quoting moonchild
The fact that there was a fairly large pin bar associated with reaching .9500 was also a factour in my thinking.

Frankly, I never thought this pair would get up this high anyway.
I wasn't expecting to get this high as fast as it has either. But the fact that touched 0.9500 tells me that there's potential to the upside still, although the market is going to be pretty quiet waiting for FOMC minutes.

Fed can give it a push over 0.95 or a pull to 0.94 we'll see.

Good luck
  • #23,346
  • Sep 21, 2010 9:32am Sep 21, 2010 9:32am
Quoting kandarv
I was thinking exactly the opposite.
95 is close to a channel top.
Attached Image
  • #23,347
  • Sep 21, 2010 9:38am Sep 21, 2010 9:38am
Quoting mry2001
95 is close to a channel top.
It certainly is, also it pulled back from that 161.8 fib ext. As is said before, it looks like a nice place to short and maybe I should be selling instead of buying.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_AUD_USD_8 Hours_snapshot.png Size: 47 KB
  • #23,348
  • Sep 21, 2010 9:38am Sep 21, 2010 9:38am
Possible Evening Star 1H.
Use me as a contrarian indicator
  • #23,349
  • Sep 21, 2010 9:54am Sep 21, 2010 9:54am
ag' short AUD USD
  • #23,350
  • Sep 21, 2010 9:58am Sep 21, 2010 9:58am
I dont know why everyone is trying to short this pair now before the FOMC statement.......IF this is the turning of the trend, 95 will have to be taken out. There will probably be some nasty running of stops, so unless you're using a 100 pip or greater stop I cant see how shorting now is even remotely a good idea
  • #23,351
  • Sep 21, 2010 10:00am Sep 21, 2010 10:00am
Quoting mfoste1
I dont know why everyone is trying to short this pair now before the FOMC statement.......IF this is the turning of the trend, 95 will have to be taken out. There will probably be some nasty running of stops, so unless you're using a 100 pip or greater stop I cant see how shorting now is even remotely a good idea
just curious, why does .95 have to be taken out if its a turn of the trend?

i'm holding shorts but will probably close before the fomc
  • #23,352
  • Sep 21, 2010 10:01am Sep 21, 2010 10:01am
Quoting Phonetic
just curious, why does .95 have to be taken out if its a turn of the trend?

there are very large stops ahead of 95.....there was only one attempt on them, bulls will not let shorts off that easy, its only 25 pips away.....I would try to short on the spike, but I'm not entering any more trades today. I made great money in the past 2 days(41% gain on my main account) and I'm not giving those gains back trading when those puppets from the fed are talking. This will be a crapshoot or roulette. It isn't worth it. My advice? save your money, wait till a defined trend is established on this pair
  • #23,353
  • Sep 21, 2010 10:05am Sep 21, 2010 10:05am
Another view
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 23 KB
  • #23,354
  • Sep 21, 2010 10:26am Sep 21, 2010 10:26am
Always best to wait after FOMC rather than speculate IMO. But I must say, I think the only currency to benefit will likely be CHF as they stay out of policy and possibly EUR. If I were a gambler, AUD and CAN stand the most to loose. I'm not sure USD will know what to do.
  • #23,355
  • Sep 21, 2010 10:30am Sep 21, 2010 10:30am
i still have that gap in the back of my mind, i do think it'll be filled
  • #23,356
  • Sep 21, 2010 10:44am Sep 21, 2010 10:44am
Quoting Phonetic
i still have that gap in the back of my mind, i do think it'll be filled
do all gaps would be filled in FOREX?
  • #23,357
  • Sep 21, 2010 10:48am Sep 21, 2010 10:48am
Usually they do, yes

Quoting avalonyu
do all gaps would be filled in FOREX?
  • #23,358
  • Sep 21, 2010 11:07am Sep 21, 2010 11:07am
Quoting avalonyu
do all gaps would be filled in FOREX?
Typically, especially when a currency takes a straight shot up like this one pretty much has. It may even go further than the usual 50% as most AUD indicators show it extremely overvalued.
  • #23,359
  • Sep 21, 2010 11:16am Sep 21, 2010 11:16am
ok im flat for now. closed for +10
  • #23,360
  • Sep 21, 2010 11:21am Sep 21, 2010 11:21am
Quoting kandarv
Could be, but I just bought some @0.9456
I'm still in... waiting for FOMC ruin my week.
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