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AUD/USD

  • #23,941
  • Oct 5, 2010 6:29am Oct 5, 2010 6:29am
Start to buy @ 0.9605

Any comment? no target price....
  • #23,942
  • Oct 5, 2010 6:37am Oct 5, 2010 6:37am
strong resistence @ 0.9617

if break ..... up up up

hehehe
  • #23,943
  • Oct 5, 2010 6:58am Oct 5, 2010 6:58am
Watch reactions near 0,9624...

My thinking is that we'll toy with that, before more down, first in the 0,9460 zone.

A daily 3 periods break after a new high is nothing to be dismissed as insignificant too fast, this could start a pull back...
Imho, longs better be on alert. At least as long as AUDUSD isn't opening and trading above it's pivot on a daily basis.
Getting it right is NOT as important as not getting it wrong.
  • #23,944
  • Oct 5, 2010 7:07am Oct 5, 2010 7:07am
What if a sudden Drop > 100 pips now ?

Buy or Sell then ?
  • #23,945
  • Oct 5, 2010 7:34am Oct 5, 2010 7:34am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
looks like it may retrace back up to the break out point.

there's some serious bulls out there.
Trade what you see, not what you think.
  • #23,946
  • Oct 5, 2010 7:50am Oct 5, 2010 7:50am
the move up will be short lived. tmrw morning it will be down sharply. US traders will also take profit
  • #23,947
  • Oct 5, 2010 7:52am Oct 5, 2010 7:52am
i see dow sp200 and ftse struggling at weekly pivot and other resistance.

IF and if ISM data is crap everything will tank.
  • #23,948
  • Oct 5, 2010 7:54am Oct 5, 2010 7:54am
Quoting damo
looks like it may retrace back up to the break out point.

there's some serious bulls out there.
damo, i have quite the opposite view at the moment. what makes you think there are serious bulls out there? I just sold at .9645
Attached Image (click to enlarge)
Click to Enlarge Name: chart4.gif Size: 23 KB
  • #23,949
  • Oct 5, 2010 7:54am Oct 5, 2010 7:54am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
I was hoping it will tank. All other currencies are struggling. But this is really moving. I was thinking that this was the beginning of a downtrend on the daily.
Trade what you see, not what you think.
  • #23,950
  • Oct 5, 2010 8:01am Oct 5, 2010 8:01am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
I mean serious bulls as in the intraday time frame. All other currencies are struggling, but there must be a lot of people who think it as a bargain price and pushing things up.

I'm actually bearish. I'm just surprised at the severity of the retrace.
Trade what you see, not what you think.
  • #23,951
  • Oct 5, 2010 8:01am Oct 5, 2010 8:01am
Quoting damo
I was hoping it will tank. All other currencies are struggling. But this is really moving. I was thinking that this was the beginning of a downtrend on the daily.
it very well could be considering the uptrend is now broken. damo, i don't know your experience but your post count makes me think you are new. come see this thread if you want to learn:
http://www.forexfactory.com/showthread.php?t=230888
  • #23,952
  • Oct 5, 2010 8:05am Oct 5, 2010 8:05am
max 96.60 as 200 ema provides resistance on both 15 and 30 mins chart there. would short with stop above weekly pivot 96.80
  • #23,953
  • Oct 5, 2010 8:05am Oct 5, 2010 8:05am
Quoting damo
I mean serious bulls as in the intraday time frame. All other currencies are struggling, but there must be a lot of people who think it as a bargain price and pushing things up.

I'm actually bearish. I'm just surprised at the severity of the retrace.
the retrace is actually quite normal. it didn't go past the 50% fib from the last high to this recent low. that is just profit taking. after such a hard move in either direction, a retrace can be expected. this gives a good opportunity to get in with the move, in this case the move was down, which is the reason why I am short.
  • #23,954
  • Oct 5, 2010 8:13am Oct 5, 2010 8:13am
Quoting sachin_syd
max 96.60 as 200 ema provides resistance on both 15 and 30 mins chart there. would short with stop above weekly pivot 96.80
Agreed.
Use me as a contrarian indicator
  • #23,955
  • Oct 5, 2010 8:25am Oct 5, 2010 8:25am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Thanks for the link Phonetic.

I'm new to this forum, but been around for a while. Not that experienced with day trading either, but a successful EOD trader.

My intraday trading is always breakeaven.
Trade what you see, not what you think.
  • #23,956
  • Oct 5, 2010 8:27am Oct 5, 2010 8:27am
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 83 KB




awaiting entry south
  • #23,957
  • Oct 5, 2010 9:06am Oct 5, 2010 9:06am
depending on past data, aud will probably tank hard tomorrow. if this happens i'll tell and show what made me think this way, else for now not saying anything since this is just an idea right now, also i'm not getting into a trade with only relying on some past data, it does not have to apply for every situation anyway.
  • #23,958
  • Oct 5, 2010 9:12am Oct 5, 2010 9:12am
testing the area now, if it doesn't break this hour I'd consider it a short.
  • #23,959
  • Oct 5, 2010 9:40am Oct 5, 2010 9:40am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Regardless of what anyone thinks or what charts you post, this is a hard rally. It has now retraced and past the open price.

Those 4hr trend lines have just been blown.
Trade what you see, not what you think.
  • #23,960
  • Oct 5, 2010 9:42am Oct 5, 2010 9:42am
.9690 taken! This is madness!
Use me as a contrarian indicator
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