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AUD/USD

  • #27,361
  • Jan 17, 2011 3:50pm Jan 17, 2011 3:50pm
AU fib and stoch is also interesting. A retrace to the 38.2 fib looks likely.

Note the stoch is bottomed out on the 30M (indicating bullish support is waiting in the wings) and on the 1H, the stoch is straining more horizontally against the bears, meaning market doesn't want this thing to go down.
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  • #27,362
  • Jan 17, 2011 4:01pm Jan 17, 2011 4:01pm
Thanks Jade, appreciate the overview of AU, helps me to visualize the overall setups to expect in my afternoon analysis.

This is basically the same 1HR chart I posted on the opening of NY today, I have been out since my shorts then.

Cheers.
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  • #27,363
  • Jan 17, 2011 4:17pm Jan 17, 2011 4:17pm
Quoting Alki
Short at 0.9985, i'll see if we will go to 0.9700 level or not. Stop is by margin call for agressive trades.

Enjoy your trading.
Out with 43 green pips per lot instead of 120. Honnestly, this is like a tax when not full time trader. It's already good to take. Wait and see if come back again to 1.0060 level or not to better short again to 0.9300 level.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #27,364
  • Jan 17, 2011 4:26pm Jan 17, 2011 4:26pm
Stop is by margin call for aggressive trades.

What do you mean by this, do you trade that heavy against margin?
  • #27,365
  • Jan 17, 2011 4:36pm Jan 17, 2011 4:36pm
Quoting monarch
Stop is by margin call for aggressive trades.

What do you mean by this, do you trade that heavy against margin?
Fixed risk and all in against that. Very dangerous if not monitoring and don't have enough knowledge and experience to trade with.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #27,366
  • Jan 17, 2011 5:03pm Jan 17, 2011 5:03pm
Quoting Alki
Fixed risk and all in against that. Very dangerous if not monitoring and don't have enough knowledge and experience to trade with.
Well, that would include me then, only working with 6 years trading experience so far.
  • #27,367
  • Jan 17, 2011 5:44pm Jan 17, 2011 5:44pm
Quoting monarch
Well, that would include me then, only working with 6 years trading experience so far.


I like your naked charts, very nice.
  • #27,368
  • Jan 17, 2011 6:01pm Jan 17, 2011 6:01pm
bought @ 0.99297 stops @ 0.99177
  • #27,369
  • Jan 17, 2011 6:12pm Jan 17, 2011 6:12pm
Quoting monarch
Well, that would include me then, only working with 6 years trading experience so far.
It needs expérience, knowledge, discipline and No émotion. If loss because wrong calculation with high use of that kind of stop and No discipline to get out, you could loose Too much in your accourt and could bring a disaster. However, good calculation price with timing, tight SL and that kind of SL plus good pyramiding and using stop and reverse technique will give a huge reaward. Before applying that, Please be sure you satisfy The four conditions above. Take care, it is very dangerous to work with. I don't use every time, only when i have enough odds to enter a trade and calculate in my trading plan before entering into a trade when reduce SL at entry point. Be carefull.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #27,370
  • Jan 17, 2011 6:21pm Jan 17, 2011 6:21pm
Quoting Jade Gate


I like your naked charts, very nice.
Seems like every time I load a bunch of indicators on the chart I find myself admiring the colors and concepts, but I don't make any money.

Most of the time, a simple MA and FIBO will do the trick, but it is better if price is screaming one direction and not in a 30 pip range.

Cheers.
  • #27,371
  • Jan 17, 2011 6:51pm Jan 17, 2011 6:51pm
After a nice drop there, I am monitoring the rise of AU and EU here to find some short add on trades.

If AU breaks this low, will target 9887 and EU to 3244
  • #27,372
  • Jan 17, 2011 7:02pm Jan 17, 2011 7:02pm
Quoting redsword11
bought @ 0.99297 stops @ 0.99177
stopped



re entry


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  • #27,373
  • Jan 17, 2011 7:11pm Jan 17, 2011 7:11pm
Quoting monarch
After a nice drop there, I am monitoring the rise of AU and EU here to find some short add on trades.

If AU breaks this low, will target 9887 and EU to 3244
Yes, I like sub .9900 around .9890 for an entry, touch of the 55 ema on the daily (because higher time frames tend to take precedence over lower time frames).... always wait for confirmation before hitting the trigger. Price can reach an entry target but that doesn't mean the rest of market agrees, need to see hard evidence of supply/demand changing and holding (and because price will always test more than once, there is generally never any hurry to get on board, market is rather gracious in providing multiple opportunities to recognise a reversal ).

Asia may track it north but I would be exiting or locking it in before Frankfurt and London. The cross is likely to be quite volatile today.
  • #27,374
  • Jan 17, 2011 7:12pm Jan 17, 2011 7:12pm
Nice entry Red; I already entered long on this one earlier today int he Futures market, and just loaded up another contract. Looks good to me on the daily. Has some room to run if it picks up momentum.

Quoting redsword11
stopped



re entry


Attachment
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"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #27,375
  • Jan 17, 2011 7:18pm Jan 17, 2011 7:18pm
Quoting Jade Gate
Yes, I like sub .9900 around .9890 for an entry, touch of the 55 ema on the daily (because higher time frames tend to take precedence over lower time frames).... always wait for confirmation before hitting the trigger....
Awesome. I will look the 55ema over on the daily, normally I watch 5/15/1hr and trade a 5m or 1m for entry after the exhaustion forms.

I will post some charts after my trading finishes.

cheers.
  • #27,376
  • Jan 17, 2011 8:23pm Jan 17, 2011 8:23pm
I took Short a bit early, I should have waited for my marked line for a re-test of the previous break.
I held it for like -5 pips for a bit, but finally came back down as expected and paid out like +8 pips.
I normally like to take several trades in a swing, but I was reading some threads and did not concentrate that well.

Cheers.
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  • #27,377
  • Jan 17, 2011 9:11pm Jan 17, 2011 9:11pm
Waiting for a top or bottom test, range here for now, and possibly for next 2 hours...

Let's see how we get paid here.

Already 2 shorts on AU since the initial move down in Asia.

I am not bias either way presently.
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  • #27,378
  • Jan 17, 2011 9:21pm Jan 17, 2011 9:21pm
Well my bias turned long real quick. +6 pips to my target, then it shot higher...

Oh well, still up for the 3 winning trades today.
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  • #27,379
  • Jan 17, 2011 9:45pm Jan 17, 2011 9:45pm
A 35 pip range on AU since Asia opened, and how many pips have you squeezed from this?

Can you give me a live call so I can make a few bucks?
TheCableGuy
  • #27,380
  • Jan 17, 2011 10:31pm Jan 17, 2011 10:31pm
some consolidation price vs commodities (gold) + other pair.........just wait and patient and bb in London open-NY open for a clear direction.......

however i would like she to go higher so that i f*** her down...say back to 1.00158-1.00256 area

good luck

g
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