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AUD/USD

  • #28,361
  • Mar 1, 2011 3:12pm Mar 1, 2011 3:12pm
Did you see those two Bearish Candles on H4?
Attached Image (click to enlarge)
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #28,362
  • Mar 1, 2011 3:44pm Mar 1, 2011 3:44pm
Here we go again supply level reached and off we go down.
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Having said that I just see not too many bears around yet so buy on dips.

According to other sources the institutional buyers are sitting around Parity

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I just can't find the bears yet, keep looking ahhh there it is on the 1min chart, by the way above chart is on hourly mode .

Good luck selling this pair as even at 0.98 its a bargain.

Cheers
  • #28,363
  • Mar 1, 2011 3:48pm Mar 1, 2011 3:48pm
Quoting MarcVUM
Did you see those two Bearish Candles on H4?
Thats an interesting line across the top you got there Marc,
i just put the same one on daily and it gives me a price of 1.0150,
what a lovely round number,i think i will be looking at daily closes
around that price for the next few days,thanks.
1.0088 and then 0.9965 i have as support below.
Not interested in shorting this,there are far easier ways to make
a crust.
You can remain irrational longer than you can remain solvent.
  • #28,364
  • Mar 1, 2011 6:38pm Mar 1, 2011 6:38pm
Apparently there was some big money waiting for good news to dump some Aussie into. Even when you are right, you can be wrong.

Regards,
  • #28,365
  • Mar 1, 2011 6:40pm Mar 1, 2011 6:40pm
and to think if the market moved in the direction of the news we would all be rich
  • #28,366
  • Mar 1, 2011 6:48pm Mar 1, 2011 6:48pm
That's why I never ever expect news to back my position... Once, months earlier, after a good NFP, EUR USD plunged 50 pips, than reversed and went up at least 200 pips... Only because the price had to go up, that was the "trend." And who cares about the news... Same thing here. The USD has to strenghten, just look at eurusd, gbpusd or audusd charts.

I guess soon there will be some news created to this occurence as well, something like "well, even though the GDP data was good, but it was already priced in" or some other BS.

From there on, I only follow and trade price action and what I see on the charts since that is reality, and not my expectations.
  • #28,367
  • Mar 1, 2011 6:56pm Mar 1, 2011 6:56pm
nor the first, neither the last time. seems to be recovering though. if currency pairs reacted the way we believe that they should do, we would have been quite rich by now and wouldn't have to deal with their caprices. i suppose so, at least.
  • #28,368
  • Mar 1, 2011 8:17pm Mar 1, 2011 8:17pm
Long stopped out @ 1.0115. Happy about the 115 pips profit, but really have no idea why we are falling. No matter... I will re-enter long on a good pull back, probably near 1.0080. Good trades to all!

Regards,
  • #28,369
  • Mar 1, 2011 8:35pm Mar 1, 2011 8:35pm
Quoting FX-Petra
Long stopped out @ 1.0115. Happy about the 115 pips profit, but really have no idea why we are falling. No matter... I will re-enter long on a good pull back, probably near 1.0080. Good trades to all!

Regards,
I havn't been able to make out the PA on a lot of currencies this week.

I've been building a long on the swissy, and it doesn't appear to want to go anywhere at all.

I don't mind being wrong on these longer term trades, but it is so bloody annoying sitting through a consolidation period on daily charts.
  • #28,370
  • Mar 1, 2011 8:55pm Mar 1, 2011 8:55pm
Quoting Venice
I havn't been able to make out the PA on a lot of currencies this week.

I've been building a long on the swissy, and it doesn't appear to want to go anywhere at all.

I don't mind being wrong on these longer term trades, but it is so bloody annoying sitting through a consolidation period on daily charts.
Don't get discouraged ok? Buy AUDUSD @ 1.0105 SL 1.0055 TP1 1.0200 TP2 1.0228 Happy trading! Meshach
  • #28,371
  • Mar 1, 2011 9:35pm Mar 1, 2011 9:35pm
Quoting Venice
I havn't been able to make out the PA on a lot of currencies this week.

I've been building a long on the swissy, and it doesn't appear to want to go anywhere at all.

I don't mind being wrong on these longer term trades, but it is so bloody annoying sitting through a consolidation period on daily charts.
Funny... I looked at my quotes and said the same thing. It appears "too many" are hoping to sell the Franc (retailers at least).... well we know happens in that case.

Im waiting for .92 to crack possibly entering on a near breach of .91 or low 90's.

No way I'll sell Francs at current levels.
  • #28,372
  • Mar 1, 2011 10:01pm Mar 1, 2011 10:01pm
Quoting Warwick
Funny... I looked at my quotes and said the same thing. It appears "too many" are hoping to sell the Franc (retailers at least).... well we know happens in that case.

Im waiting for .92 to crack possibly entering on a near breach of .91 or low 90's.

No way I'll sell Francs at current levels.
Haha yup. I'm about 85% sure we are going to get a retrace soon. It needs some relief, techs are holding, bull wedge forming as well. Au is suppose to pop here soon too. 1.2 is the level I'm looking for it to break. Still waiting for this wedge to come to completion as wrll
  • #28,373
  • Mar 1, 2011 10:07pm Mar 1, 2011 10:07pm
Quoting Venice
Haha yup. I'm about 85% sure we are going to get a retrace soon. It needs some relief, techs are holding, bull wedge forming as well. Au is suppose to pop here soon too. 1.2 is the level I'm looking for it to break. Still waiting for this wedge to come to completion as wrll
Fair enough, well if your 85% sure we'll get a retrace, im 86% sure we'll crack .92xx before any decent retrace.

in any event good luck, and don't be scared to bail if it really begins tanking.
  • #28,374
  • Mar 1, 2011 10:12pm Mar 1, 2011 10:12pm
Quoting Venice
Haha yup. I'm about 85% sure we are going to get a retrace soon. It needs some relief, techs are holding, bull wedge forming as well. Au is suppose to pop here soon too. 1.2 is the level I'm looking for it to break. Still waiting for this wedge to come to completion as wrll
I'd be cautious with aussie buys at the moment. Aussie just had a BEOB 4HR bar and broke below the wedge TL. Not to mention, the aud/nzd is hitting the upper TL with bearish divergence.

Fundamentally speaking, aussie is still strong but technicals, on my chart, are telling me that a move lower is probable.
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"Timing Is Everything. Really I Swear It Is"
  • #28,375
  • Mar 1, 2011 10:35pm Mar 1, 2011 10:35pm
Quoting Warwick
Fair enough, well if your 85% sure we'll get a retrace, im 86% sure we'll crack .92xx before any decent retrace.

in any event good luck, and don't be scared to bail if it really begins tanking.
Sorry... on my phone... meant the swissy I agree this thing is toppy right now. Longs for me here needs to break wedge then buy on the retest
  • #28,376
  • Mar 1, 2011 10:50pm Mar 1, 2011 10:50pm
Quoting Venice
Sorry... on my phone... meant the swissy I agree this thing is toppy right now. Longs for me here needs to break wedge then buy on the retest
No prob... yup, im referring to U/CHf .... I'm bearish short term. Too many stops below .92XX possibly .91XX ....to be ignored
  • #28,377
  • Mar 1, 2011 10:53pm Mar 1, 2011 10:53pm
Although Venice.... new and impulsive shorts in AU/USD should get a squeeze atop 1.014x possibly extending to 1.016x although this is something i'm not trading.
  • #28,378
  • Mar 1, 2011 11:03pm Mar 1, 2011 11:03pm
Quoting Warwick
Although Venice.... new and impulsive shorts in AU/USD should get a squeeze atop 1.014x possibly extending to 1.016x although this is something i'm not trading.
Haha, If price did give the market that gift for such an easy short, I would be very thankful. I'm not counting on it, nor would I would be stopped either.
"Timing Is Everything. Really I Swear It Is"
  • #28,379
  • Mar 1, 2011 11:13pm Mar 1, 2011 11:13pm
Quoting TexasforEX
Haha, If price did give the market that gift for such an easy short, I would be very thankful. I'm not counting on it, nor would I would be stopped either.
lol haha... hey man, just the way I think. Its all about where the greatest cluster of stops are.
  • #28,380
  • Mar 1, 2011 11:57pm Mar 1, 2011 11:57pm
Looking for 1.0050ish, perhaps a small long now, a larger short later, and a good long tomorrow or tonight ?
Maybe...
Biggest joker
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