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Price is everything

  • #2,101
  • Oct 4, 2010 8:58am Oct 4, 2010 8:58am
Quoting Phonetic
ive got a limit sell in at 1.5867


awaiting reaction @ 1.58818
  • #2,102
  • Oct 4, 2010 9:02am Oct 4, 2010 9:02am
Quoting Phonetic
this is true, but it may never get there.
I don't usually follow other technical analysis but here is one that popped up -

The AUD/USD did end up higher on Friday, but it was by no means the biggest mover. In fact, it appeared to struggle on its approach to 0.9750. Anecdotal evidence continues to suggest that the Asia-Pacific region will be the main driver of global growth in the near future, and commodity-based economies (like Australia, New Zealand and Canada) would be the prime beneficiaries of such growth. Given this, the fact that the Aussie was overshadowed by the performance of both of its “com-doll” brethren, the Kiwi and the Loonie, leads one to conclude that with so many expecting a hike to be a foregone conclusion, the risk would be if they did nothing. This, along with the fact that the unit is clearly overbought and approaching levels that would have option-related interests, might explain the difficulty the AUD/USD had on Friday in sustaining its relentless move higher.

It would not be too shocking if the Aussie retraced a bit as the market might opt to pare down its exposure leading up to the announcement, but the post announcement price action will be key in determining if, and when, the pair reaches parity.

Source: http://fxpath.com/2010/10/02/forex-t...the-spotlight/

Like I said, I do my analysis from MY charts, which tells me we are in a monthly and weekly supply zone, so any longs in this area have to be treated with care! Once it breaks 0.9850, I am bullish all the way on AUDUSD, but I also feel a retrace is on the cards... I just don't know when!
  • #2,103
  • Oct 4, 2010 9:02am Oct 4, 2010 9:02am
Quoting redsword11
out with couple
Taken directly of 61.8 and resistance/channel high?
  • #2,104
  • Oct 4, 2010 9:03am Oct 4, 2010 9:03am
Quoting redsword11
awaiting reaction @ 1.58818
Why there?
  • #2,105
  • Oct 4, 2010 9:05am Oct 4, 2010 9:05am
Quoting bbakker
I don't usually follow other technical analysis but here is one that popped up -

The AUD/USD did end up higher on Friday, but it was by no means the biggest mover. In fact, it appeared to struggle on its approach to 0.9750. Anecdotal evidence continues to suggest that the Asia-Pacific region will be the main driver of global growth in the near future, and commodity-based economies (like Australia, New Zealand and Canada) would be the prime beneficiaries of such growth. Given this, the fact that the Aussie was overshadowed by the performance of...
I will keep stop loss where it is, removed my limit buy and will close at BE if I can. 4HR bearish engulfing candle has got me worried, I don't think I'll be getting out at BE...
  • #2,106
  • Oct 4, 2010 9:11am Oct 4, 2010 9:11am
Quoting Phonetic
I will keep stop loss where it is, removed my limit buy and will close at BE if I can. 4HR bearish engulfing candle has got me worried, I don't think I'll be getting out at BE...


GBPAUD is also flying and I just closed out my second runner for 170 pip profit. I will let me 3rd one run with a TP of 1.7921, but I will also use a technical trailing stop.

I wish you success with your trading!
  • #2,107
  • Oct 4, 2010 9:11am Oct 4, 2010 9:11am
Quoting Phonetic
Why there?


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looking left ........
  • #2,108
  • Oct 4, 2010 9:27am Oct 4, 2010 9:27am
team!


before trading kiwi or aud, use EURNZD supply AND demand zones on the same tf as you are trading kiwi or aud


when EN is @ support - kiwi generally goes south, so check KIWI ( AND AUD ) its @ supply or some kind


when EN is @ resistance - kiwi ( and aud ) generally goes north, check this yourselves and you can time your entries with correlations which helps


EN levels are a good LEADING INDICATOR
  • #2,109
  • Oct 4, 2010 9:37am Oct 4, 2010 9:37am
Quoting redsword11
team!


before trading kiwi or aud, use EURNZD supply AND demand zones on the same tf as you are trading kiwi or aud


when EN is @ support - kiwi generally goes south, so check KIWI ( AND AUD ) its @ supply or some kind


when EN is @ resistance - kiwi ( and aud ) generally goes north, check this yourselves and you can time your entries with correlations which helps


EN levels are a good LEADING INDICATOR
damn, broker doesn't have eur/nzd. will have to get a demo account somewhere
  • #2,110
  • Oct 4, 2010 9:38am Oct 4, 2010 9:38am
Quoting Phonetic
damn, broker doesn't have eur/nzd. will have to get a demo account somewhere

open a demo with alpari uk
  • #2,111
  • Oct 4, 2010 9:40am Oct 4, 2010 9:40am
sold usdsek @ 6.76938
  • #2,112
  • Oct 4, 2010 9:44am Oct 4, 2010 9:44am
Quoting redsword11
sold usdsek @ 6.76938


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  • #2,113
  • Oct 4, 2010 9:51am Oct 4, 2010 9:51am
Quoting redsword11
sold usdsek @ 6.76938
very strange. at home, I was able to chart usdsek with my broker. at work, I don't have it in my charts list. pretty sure I had eur/nzd also at home.
  • #2,114
  • Oct 4, 2010 9:59am Oct 4, 2010 9:59am
Quoting redsword11
Attachment

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  • #2,115
  • Oct 4, 2010 10:36am Oct 4, 2010 10:36am
thoughts on eu 30min?
  • #2,116
  • Oct 4, 2010 10:38am Oct 4, 2010 10:38am
Looks like a broken down HS, currently parking on the top of a range. Is that it?
forget about tomorrow, just steal away into the night
  • #2,117
  • Oct 4, 2010 10:48am Oct 4, 2010 10:48am
Quoting redsword11
thoughts on eu 30min?
looks like a long to me.

4hr is also approaching daily trend line
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  • #2,118
  • Oct 4, 2010 10:48am Oct 4, 2010 10:48am
Quoting spekitox
Looks like a broken down HS, currently parking on the top of a range. Is that it?

might go north to test neckline
  • #2,119
  • Oct 4, 2010 11:19am Oct 4, 2010 11:19am
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  • #2,120
  • Oct 4, 2010 11:22am Oct 4, 2010 11:22am
aud/usd, its been fighting this TL all morning...break up already...
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