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  • #25,721
  • Edited 1:47pm Dec 7, 2010 1:32pm | Edited 1:47pm
Quoting FX-Petra
Closed my short from 9950 @ 9885. Just feel uncomfortable in a short with equites showing so strong. Perhaps I will re-short again between 9950 and 1.000. I have had a very good run of late and am in no hurry to put my profits at risk.

Regards,

USDX has to go pass 80 for audusd to fall further, this shoulder forming, feels really weird. i feel like 0.9850 will hold and usdx will touch 80.

Then AUDUSD will form another mini H&S at H1 before the next move or coming down again. So it might retrace at 0.9850 to 0.990. Once USDX breaks above 80 we can go for big shorts. HOWEVER, this is highly unlikely, i am much more bearish to USD because it just broke the up trend(h4), Received a pullback to the trendline, hen price consolidates around 79.1 to 80. its more likely to come down, that is why im being cautious, i had a good run aswell, im not going to risk so much.. so i might just short small lots. on audusd and more if USDX ever breaks above 80.


some stuff to look at:

http://news.yahoo.com/s/yblog_theloo...money-properly
  • #25,722
  • Dec 7, 2010 2:00pm Dec 7, 2010 2:00pm
equites continue to have a nice strong day, and A/U keeps making new daily lows. I am going long @ 9850.... I do not belive bizzaro world can continue tomorrow. We will see!

Regards,
  • #25,723
  • Dec 7, 2010 2:38pm Dec 7, 2010 2:38pm
Quoting FX-Petra
equites continue to have a nice strong day, and A/U keeps making new daily lows. I am going long @ 9850.... I do not belive bizzaro world can continue tomorrow. We will see!

Regards,
Definitely some weird shit. I should have closed my longs at .9960 today as I had planned, but we just seemed so close to parity... oh well. Stopped out for a pittance. It's been a frustrating week for me so far
  • #25,724
  • Dec 7, 2010 2:40pm Dec 7, 2010 2:40pm
Quoting EdgarNg
USDX has to go pass 80 for audusd to fall further, this shoulder forming, feels really weird....
Given today's action, .9915 may be a splendid sport for a short depending on what the yuro is up to
  • #25,725
  • Dec 7, 2010 3:21pm Dec 7, 2010 3:21pm
I think that fall price is 0.9785. Im shorting now AUD/JPY so I will close my possition when AUD/USD reach this or 0.9820 level. After 3h will be nows, I hope bad for AUD. ;D
  • #25,726
  • Dec 7, 2010 3:30pm Dec 7, 2010 3:30pm
Quoting Fibo_trader
I think that fall price is 0.9785. Im shorting now AUD/JPY so I will close my possition when AUD/USD reach this or 0.9820 level. After 3h will be nows, I hope bad for AUD. ;D
USD/JPY is the main driver there... you may not the two are not very well correlated (AUD/JPY AUD/USD)

Your short may still play, depending on when you got in. I would even say it is probable.
  • #25,727
  • Dec 7, 2010 3:30pm Dec 7, 2010 3:30pm
So, 0.9860s broke. Really Nice Morning to wake up to!
  • #25,728
  • Dec 7, 2010 3:50pm Dec 7, 2010 3:50pm
aussie can't catch a bid methinks
  • #25,729
  • Dec 7, 2010 4:47pm Dec 7, 2010 4:47pm
fundamentally seen, is the interest rate difference between the australian and the US Dollar the reason why the AUD is still relatively expensive ?
  • #25,730
  • Dec 7, 2010 4:51pm Dec 7, 2010 4:51pm
Attachment

AUD support level

--------

Forex Ebook
  • #25,731
  • Dec 7, 2010 5:44pm Dec 7, 2010 5:44pm
Quoting sailor68
What i see below 9960, HS is not invalidate (see my last post) and last Doji candle (Day time frame).
i already took short position (not look good but i keep it for the moment) let we see, answer soon because we are already at this 9960 level.
Hi All,

Now my short look good (but i didn't except that the price go down quickly like this), price seat below 9850.
Trade with the momentum
  • #25,732
  • Dec 7, 2010 8:21pm Dec 7, 2010 8:21pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
chop chop chop..... I think I'll stay out of this until the London session.
Trade what you see, not what you think.
  • #25,733
  • Dec 7, 2010 9:01pm Dec 7, 2010 9:01pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
It all seems to depend a little on whos data you use, but it looks as though the daily head and shoulder might start to pan out. I don't make decisions on candlesticks but yesterdays looks ominous.

Any comments on this are welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: Daily.PNG Size: 65 KB
Trade what you see, not what you think.
  • #25,734
  • Dec 7, 2010 9:07pm Dec 7, 2010 9:07pm
SL moved to 9875
  • #25,735
  • Dec 7, 2010 9:13pm Dec 7, 2010 9:13pm
Looking very good...
Dont like the swap though.. I hope this dont drag too long or the swap will eat it up.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 8 KB
  • #25,736
  • Dec 7, 2010 9:15pm Dec 7, 2010 9:15pm
If I have such good pips, I certainly do not mind the swap . Now is 98.07 and going down....

Quoting BurgerKing
Looking very good...
Dont like the swap though.. I hope this dont drag too long or the swap will eat it up.
  • #25,737
  • Dec 7, 2010 9:19pm Dec 7, 2010 9:19pm
Quoting damo
It all seems to depend a little on whos data you use, but it looks as though the daily head and shoulder might start to pan out. I don't make decisions on candlesticks but yesterdays looks ominous.

Any comments on this are welcome.
Attachment

Hi,

Yesterday i play this HS (for me it was valid until 9960, its why i was short, not too confident , but i trade my chart).

http://www.forexfactory.com/showpost...ostcount=25716

Maybe a retrace at London session but im not waiting for it its why i add one more short on the retest of 9850 area chart attach M15 (Stop at Be) for my two short, no risk.
If stop hit, look for antother short entry.

Bias bearish (daily candle confirm it) just my thought.

Green pips to all
Attached Image (click to enlarge)
Click to Enlarge Name: au m15 81210.gif Size: 14 KB
Trade with the momentum
  • #25,738
  • Dec 7, 2010 9:21pm Dec 7, 2010 9:21pm
Quoting BurgerKing
Looking very good...
Dont like the swap though.. I hope this dont drag too long or the swap will eat it up.
Trade with the momentum
  • #25,739
  • Dec 7, 2010 9:37pm Dec 7, 2010 9:37pm
hmmm...

9803 = 38.2% fibo of the last days rise.

And 50 EMA 4H is just there too...
Use me as a contrarian indicator
  • #25,740
  • Dec 7, 2010 9:41pm Dec 7, 2010 9:41pm
The dollar kicked butt today across the board (except GBP), and I cannot find a good reason for it. I talked to a friend in the biz, and the best he could do was "end of year squaring" of books and "some options being defended". A/U was near 9960 and has since seen a steady fall to 9800... and stayed there with very little bounce. I cannot find a fundamental reason why, so I am staying with my 1/2 lot long from 9850, and will look to add some more near 9760 where there is some good hourly support. Additionally, tomorrw is triple intrest day. You have to be pretty convinced of your short to hold through that. Good trades to all!

Regards,
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