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AUD/USD

  • #23,601
  • Sep 24, 2010 9:44am Sep 24, 2010 9:44am
i must be one of the few trading against the trend, im short .9600
  • #23,602
  • Sep 24, 2010 9:47am Sep 24, 2010 9:47am
had some really crappy entries last night. i didn't think this was going past the 50% fib from yesterday's daily bear candle. my SL should have been just above it. anyway, still in trades from below .9500 - doubled at .9600. Could be a big loser if this wedge breaks up...i need better MM
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  • #23,603
  • Sep 24, 2010 9:53am Sep 24, 2010 9:53am
Quoting phonetic
i must be one of the few trading against the trend, im short .9600
i m with u. Excellent resistance from top trend line
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  • #23,604
  • Sep 24, 2010 9:53am Sep 24, 2010 9:53am
kiwi reacting bearish to gap
  • #23,605
  • Sep 24, 2010 9:56am Sep 24, 2010 9:56am
Quoting Phonetic
i must be one of the few trading against the trend, im short .9600
Why would you want to trade against the trend ?? don't you know that the trend is your friend until it ends when it bends ??
  • #23,606
  • Sep 24, 2010 10:00am Sep 24, 2010 10:00am
Similar situation with dow plus 76% retracement
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  • #23,607
  • Sep 24, 2010 10:01am Sep 24, 2010 10:01am
Quoting Daytrader74
Why would you want to trade against the trend ?? don't you know that the trend is your friend until it ends when it bends ??
i did make the mistake of trading against the trend and im in a losing trade at the moment. but, as long as we are below that upper trend line, ill hold my trades. i overtraded and traded against the trend, and may get burned for it
  • #23,608
  • Sep 24, 2010 10:05am Sep 24, 2010 10:05am
Quoting Phonetic
i did make the mistake of trading against the trend and im in a losing trade at the moment. but, as long as we are below that upper trend line, ill hold my trades. i overtraded and traded against the trend, and may get burned for it
All I can say is "we learn from our mistakes" well I certainly do ! thats why the trend is always my friend now until it ends when it bends
  • #23,609
  • Sep 24, 2010 10:07am Sep 24, 2010 10:07am
i thought that daily candle on wednesday (doji) and yesterday's bear candle would surely take us down further. but damn.
  • #23,610
  • Sep 24, 2010 10:14am Sep 24, 2010 10:14am
  •  bialy
  • | Joined Sep 2010 | Status: forex makes me alcoholic :) | 42 Posts
Quoting Phonetic
i must be one of the few trading against the trend, im short .9600
gold looks tired
  • #23,611
  • Sep 24, 2010 10:19am Sep 24, 2010 10:19am
Quoting Phonetic
i thought that daily candle on wednesday (doji) and yesterday's bear candle would surely take us down further. but damn.
I thought you had your SL above S2 and were in the profit.... thats what you posted yesterday... Why not follow your plan?
Dr. C
  • #23,612
  • Sep 24, 2010 10:22am Sep 24, 2010 10:22am
Definitly got that short squeeze wrong (stopped out at 9450), I'm alittle suprised we didn't see the move down today (espeically after the 1130 SPX break yesterday). Next week brings some earnings reports, could that be the catylst for bearish momentem in US equities or propel them higher and the AUD/USD with it?

Taking a small short at 96, SL above the high.

And, excellent charts red, keep them coming.
This is what awesome feels like
  • #23,613
  • Sep 24, 2010 10:23am Sep 24, 2010 10:23am
Quoting cvcamper
I thought you had your SL above S2 and were in the profit.... thats what you posted yesterday... Why not follow your plan?
these trades are new, first one initiated last night around 11pm EST, i closed that one yesterday for profit. didn't see this going back up. and i dont know why i let it go this far against me, still haven't learned my lesson
  • #23,614
  • Sep 24, 2010 10:28am Sep 24, 2010 10:28am
i did say it,i am still bullish on this pair,i mean seriously bullish.i hope you guys went with the ride and wave.Positive pips to ya all.
  • #23,615
  • Sep 24, 2010 10:40am Sep 24, 2010 10:40am
4HR candles have been unable to close above .9574 area...20 minutes to go.
  • #23,616
  • Sep 24, 2010 10:45am Sep 24, 2010 10:45am
Quoting Phonetic
i thought that daily candle on wednesday (doji) and yesterday's bear candle would surely take us down further. but damn.
even i thought so ..

i also see similar structure on aud/cad as audusd and dow. ac also has hit fib extension of 262% along with channel line.
all this point to sharp correction imho.
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  • #23,617
  • Sep 24, 2010 10:47am Sep 24, 2010 10:47am
.
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  • #23,618
  • Sep 24, 2010 10:48am Sep 24, 2010 10:48am
triple whammy! i hope it works and aussie tanks along with dow. g nite friends.

we don't get to see such great correlation often..
  • #23,619
  • Sep 24, 2010 11:06am Sep 24, 2010 11:06am
Quoting sachin_syd
triple whammy! i hope it works and aussie tanks along with dow. g nite friends.

we don't get to see such great correlation often..
good luck to you, i think we may be safe with our shorts at .9600
  • #23,620
  • Sep 24, 2010 11:13am Sep 24, 2010 11:13am
Possible support at .9556 (38.2% fibo) and previous top.
Use me as a contrarian indicator
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