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AUD/USD

  • #24,541
  • Oct 20, 2010 8:27am Oct 20, 2010 8:27am
Quoting Mike Haran
Nice comment ;-),

Forexfactory is a place where I read a lot of good information, its a cracking forum. I can help a lot of you become winning traders, I was taught pattern trading by an expert, studied chaos theory and applied it to market analysis.

I wrote a book on trading patterns, but for me the biggest discovery was market timing, and pitch forks, I was taught wave analysis by one of the leading lights in the industry. But the most amazing bit of information was taught to me by a friend I taught to trade.

These trends are long,...
I'm glad to have another trader with a nice range of knowledge here on ff
Let's hunt some pips
Hero calls followed by margin calls...
  • #24,542
  • Oct 20, 2010 8:33am Oct 20, 2010 8:33am
Hi mate, just curious, where do you stand on Aussie? As Chinese data will be coming out tomorrow, at GMT +8 time.
Logics do not apply in FOREX
  • #24,543
  • Oct 20, 2010 8:45am Oct 20, 2010 8:45am
A decline today until tommorrow morning would confirm my expectation that this is a top and a deeper correction will take place. However, we are approaching a point where if we take yesterdays low we could see a reaction rally upwards, this could easily pull the AUD upto .99130 or higher.

If we do not decline today then we could certainly exceed the high. Possibly moving to 1.00348 at the moment we are breaking out of the down channel which is a sign of strength.

So depending on what the market does I refine my approach, I trade the market as it adapts, and I always analyse both directions, so I am prepared for what ever it does and I can keep an open mind.


Hope that helps


Mike Haran
  • #24,544
  • Oct 20, 2010 9:31am Oct 20, 2010 9:31am
Quoting Mike Haran
A decline today until tommorrow morning would confirm my expectation that this is a top and a deeper correction will take place. However, we are approaching a point where if we take yesterdays low we could see a reaction rally upwards, this could easily pull the AUD upto .99130 or higher.

If we do not decline today then we could certainly exceed the high. Possibly moving to 1.00348 at the moment we are breaking out of the down channel which is a sign of strength.

So depending on what the market does I refine my approach, I trade the market as...
Umm..let's see if I get it straight: So basically what you say is after in depht analysis by your super-computer, what you are trying to teach us is If price is not going down, it's gonna go up ?
Could you at least specify if it will do so before or after taking out your stop?
  • #24,545
  • Oct 20, 2010 9:47am Oct 20, 2010 9:47am
.9862
Use me as a contrarian indicator
  • #24,546
  • Oct 20, 2010 9:48am Oct 20, 2010 9:48am
We are in the midst of a very strong, well defined, multi month trend. These trends do not usually turn around on a dime. We are at levels that create fundamental head scratching, but in the short term momentum always beats fundamentals. I shorted near the last top.... but I know full well that we may see 1.02-1.05 before this thing turns around. One good sign would be to challange 1.00 again and fail. That would create some hope that the turn is near. Until then, just relax and buy the dips. That has been good for months, and, until proven otherwise, may well be good for another 2 months.

Regards,
  • #24,547
  • Oct 20, 2010 9:58am Oct 20, 2010 9:58am
Looks like today is yet another "Hate the Dollar Day"...
  • #24,548
  • Oct 20, 2010 10:13am Oct 20, 2010 10:13am
Quoting jtfx
Looks like today is yet another "Hate the Dollar Day"...
It's still the "risk on/risk off" yo-yo game (I prefer to call it "more greed/less greed" or "watch out for the sharks" exercise )
  • #24,549
  • Oct 20, 2010 10:30am Oct 20, 2010 10:30am
Quoting FX-Petra
We are in the midst of a very strong, well defined, multi month trend. These trends do not usually turn around on a dime. We are at levels that create fundamental head scratching, but in the short term momentum always beats fundamentals. I shorted near the last top.... Regards,
We have some good ones in here helping out its nice to be part of this thread!
  • #24,550
  • Oct 20, 2010 11:23am Oct 20, 2010 11:23am
Possible target: 0.9910 ?

Reason: Upper TL passes there...
Use me as a contrarian indicator
  • #24,551
  • Oct 20, 2010 12:28pm Oct 20, 2010 12:28pm
Quoting Mike Haran
I am expecting the AUDUSD to fall in the next couple of hours, I have two price target 0.98000 and 0.98313, these levels become interesting when the time is up, if they are breached then I will look for other levels. See the left hand side of the white line, the most important part of this is timing the markets. I scaled in last night based on my timing method and woke up this morning to 104 pips and counting, I scale into a position as I know that my timing can be a bar out in time and that can be 20-30 pips.

As a trader it is pointless to try...
it has hit my target of 0.985, looks like 0.9910 is the next level
  • #24,552
  • Oct 20, 2010 3:39pm Oct 20, 2010 3:39pm
Quoting pqt
Umm..let's see if I get it straight: So basically what you say is after in depht analysis by your super-computer, what you are trying to teach us is If price is not going down, it's gonna go up ?
Could you at least specify if it will do so before or after taking out your stop?
  • #24,553
  • Oct 20, 2010 5:14pm Oct 20, 2010 5:14pm
All stars aligned <- big hint for you.


Technically FOLLOW THE FLOW BEETCHES
  • #24,554
  • Oct 20, 2010 5:26pm Oct 20, 2010 5:26pm
I just miss a trade for today
I should Long aud/usd

http://preview.shareapic.net/preview7/023673151.gif
{Promotion Removed}
  • #24,555
  • Oct 20, 2010 5:32pm Oct 20, 2010 5:32pm
Is it long AUDUSD now?

I swear it was short a few posts back....

I am confused with you all.

Hmm.. maybe different group of folks posting then and posting now.
  • #24,556
  • Oct 20, 2010 5:42pm Oct 20, 2010 5:42pm
Quoting jtfx
Is it long AUDUSD now?

I swear it was short a few posts back....
Why do you think anybody would know whether to short or long?
I just want to get my kicks, before the whole shit-house goes up in flames.
  • #24,557
  • Oct 20, 2010 8:06pm Oct 20, 2010 8:06pm
Quoting jtfx
Is it long AUDUSD now?

I swear it was short a few posts back....

I am confused with you all.

Hmm.. maybe different group of folks posting then and posting now.

no matter up or down. its swing. coupled wit good risk management, u r ready to go~~

swing here swing there~~!! swingggG
Swinger Club
  • #24,558
  • Oct 20, 2010 8:35pm Oct 20, 2010 8:35pm
Any reason for the fairly short and sharp drop in this pair over the past couple of minutes?
  • #24,559
  • Oct 20, 2010 8:37pm Oct 20, 2010 8:37pm
Quoting oztrader1
Any reason for the fairly short and sharp drop in this pair over the past couple of minutes?
Geithner's comments on dollar's devaluation.
  • #24,560
  • Oct 20, 2010 9:23pm Oct 20, 2010 9:23pm
Quoting kandarv
Geithner's comments on dollar's devaluation.
can u get him to talk for a few hours? that was cool!
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