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AUD/USD

  • #28,901
  • Mar 20, 2011 10:53am Mar 20, 2011 10:53am
Quoting ely
Good straight answers appreciated...nobular jockeys need not bother
If you have bought the dips during this strong uptrend move instead of selling the rallies, you would have pocketed loads of pips by now.

Hope my straight answer is appreciated...

Btw I looked up the dictionary but couldn't find the meaning of nobular jockey so I'm not sure if it applies to me.
  • #28,902
  • Mar 20, 2011 10:56am Mar 20, 2011 10:56am
Quoting Magix
w0w...
From a trader standpoint trying to relate you in the real world, I could only imagine you as one of those nut job homeless people who shouts random profanities while hurling fist fulls of urine at people that walk past. You my friend need a cardboard box of your own and save the rest of anybody who wants a serious discussion on AUD/USD to this thread.

Though I am sure anybody regular to the factory realizes that you are a complete lunatic...you are really a poor representation for any new folk that wonder the halls here...
Well said Sir! You have summed it up extremely well!
  • #28,903
  • Mar 20, 2011 10:59am Mar 20, 2011 10:59am
Quoting ely
My call is based on several technical points on a test of the 0.9200 area

Good straight answers appreciated...nobular jockeys need not bother.
Hope it helps
Sanks
Though I do appreciate your attempts here, your technical points as of current have no merit in market...

Just because you do not have the ability to understand or comprehend a 20 second chart, doesn't mean that you cannot learn from it...or any other time frame as it applies, really having an idea about price action is the same on all time frames, the only thing that changes is the range of play...

I have a few points marked out on a chart for my technical analysis, the reasons that I think what you have posted are though not random number price points, more so just clutter that fogs up your screen and mind...

Let's start in the middle of the chart, where I have labeled it, "Example of buyers coming in"...Do you see the excessive volume that entered the market in buying this little spike down?(Bottom of the chart) Now fast forward to the last little dip we took to Daily support, or the Yellow line...We had 2 key days here, one selling to support, the following one showing larger volume and buying back up...

Dips are being bought...

Now, this particular pair has been in sideways motion for a really long time, but that doesn't necessarily mean that it needs to fall...Application of this same strategy on Gold would have surely wiped out not only your personal account but every one you would have subsequently opened following its dip cycles...

There are 4 key areas as of current, S1, which has been bought back up...buyers will most likely defend this area. R1, will be an area where some profit taking might take place, but if price closes above that, R2 marks the top of the chart...S2 will be the next area of buys that will most likely flood the market if S1 fails, but if not there is the next and probably most important point on the daily currently, I have listed as Price Point Reaction.

Now, not one of these numbers falls under .92 and given that we have been in this playable range since AUGUST of last year could leave you with your worthless posting of insults and irrelevant targets for the next 6 months...

This, I am sure that nobody wants.

IF you pride yourself on your ability to trade, and feel the need to call others NobJoks, I think you had better have a look at your criteria for this assessment, because the way you are describing it, Nobjoks is actually a positive term given the fact that you are the only one who cannot see the forest through the trees whereas some of the people that you refer to as this term, actually have an idea of price action.

Now I am sure you mean this in a derogatory way, but seriously champ...the only one that comes off looking the fool is you...

Quit with the Nobjok thing...Try to be an active participant without the insults, and take a little time to understand your craft...just because you have the ability to post here, doesn't mean that one day your invite cannot be revoked.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,904
  • Mar 20, 2011 11:05am Mar 20, 2011 11:05am
Good day great FX traders,

I am a complete newbie in forex trading. I have been trading on demo;i make both profit and loss;then i conclude i dont understand this market yet.

Now, I am soliciting for the help of the forum members to help with information on
1. how to analyze forex chart with candle sticks
2. other useful methods to enable me take the many benefits of forex tradings.

Thank you all in anticipation


wolls
  • #28,905
  • Mar 20, 2011 11:18am Mar 20, 2011 11:18am
Quoting Magix
Though I do appreciate your attempts here, your technical points as of current have no merit in market...

Just because you do not have the ability to understand or comprehend a 20 second chart, doesn't mean that you cannot learn from it...or any other time frame as it applies, really having an idea about price action is the same on all time frames, the only thing that changes is the range of play...

I have a few points marked out on a chart for my technical analysis, the reasons that I think what you have posted are though not random number...
Magix,

Thanks for the comprehensive and insightful analysis. This is the kind of stuff I visit FF for.
  • #28,906
  • Mar 20, 2011 11:32am Mar 20, 2011 11:32am
Quoting Velywrong
Magix,

Thanks for the comprehensive and insightful analysis. This is the kind of stuff I visit FF for.
Though I do understand your frustration, going to the point of creating a nick to follow, I think we all realize that two wrongs don't make a right...

Given your time spent in market, I believe that others would probably benefit from your knowledge as well...yeah, you are only a few posts in under this handle, but that ought not stop you from posting a chart...

They say that music can calm the savage beast...the beast here is the runaway on insults and the music will always be in the money...

Let the techs flow and put the demon to sleep...

All the best brother!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,907
  • Mar 20, 2011 12:01pm Mar 20, 2011 12:01pm
Like i said everyone has their opinion...technicals can be made to read how you want to read them!

I remain looking to re-enter shorts, i cashed in on my last few occasions. However, there is potential money to be made on the upside, no doubt.
Overall, i think when this baby turns, its set to topple pdq.

Do you trust the direction your stating enough to place big money positions? If anyone was that sure, they would.

I have nothing more to say. I don't trade this on a minute chart basis, and enjoy the daily chart as a guide.

Hope it helps
Sanks
  • #28,908
  • Mar 20, 2011 12:29pm Mar 20, 2011 12:29pm
Quoting ely
Like i said everyone has their opinion...technicals can be made to read how you want to read them!

Hope it helps
Sanks
"Technicals can be made to read how you want to read them."
Yes and no...
Technicals are based on price movement and reaction...all indicators are is exactly what they are labeled, indicators...they indicate the movement or past movement of price.

Much the same as support and resistance ranges, or supply and demand, depending on the terms you choose. They are support until support is lost and retested to be resistance. Resistance is resistance until it is broker and becomes support.

Check out a lower TF, might be a little more clear.

1. Interm support created, not that strong.
2. Support Range created.
3. Price rebounds to interm support which is now resistance.
4. Previous support range showing as resistance.

Follow the money flow and the green and red lines here...

Price drops to create a support range, moves back to resistance, drops below support, retests as resistance, moves above resistance area one and is currently in resistance area 2.

When going through all the Trader Logic, you will see the words, wait for the first pullback...when you begin to understand what support and resistance look like, you will actually understand what this means. Selling every spike on a price that moves up in hopes it will turn a profit, may work some times, but if you ever want to move out of a world of trading demos and dimes, you need to erase this logic and start to gain a better perspective on the flow of money...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,909
  • Mar 20, 2011 12:33pm Mar 20, 2011 12:33pm
Quoting ely
I don't trade this on a minute chart basis, and enjoy the daily chart as a guide.
As stated before, the time frame that you trade is moot. All charts from the 1m threw the montly will look and trade the same. The only thing that changes is the range of play.

Why not take some time to try and understand money movement on a faster chart, it will give you a greater understanding of market as a whole.

Watch a 5m and 15m chart...someplace inside of these you might find a little better strategy and perhaps get to a place where instead of waiting for weeks atta time for a couple of fresh sheckles in your account, you might turn a regular profit.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,910
  • Mar 20, 2011 5:35pm Mar 20, 2011 5:35pm
AUDUSD broke the third and the second uptrend phase, correction to the first is inevitable. We could see it @ 0,9550 before continuation of the trend.
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Enter Signature
  • #28,911
  • Edited 11:33pm Mar 20, 2011 10:17pm | Edited 11:33pm
Quoting Magix
Though I do understand your frustration, going to the point of creating a nick to follow, I think we all realize that two wrongs don't make a right...

Given your time spent in market, I believe that others would probably benefit from your knowledge as well...yeah, you are only a few posts in under this handle, but that ought not stop you from posting a chart...

They say that music can calm the savage beast...the beast here is the runaway on insults and the music will always be in the money...

Let the techs flow and put the demon to sleep...

All...
Thanks for the understanding Magix.

I have refrained from responding to Ely's post all this while so as not to congest this thread. Since Jade has started a new thread and most of the serious discussions on AUDUSD have migrated over there, I thought it is less inappropriate to have a little sensible discussion with him in this thread.

Although I have been trading FX for a while now, it has never been smooth sailing for me. I have been burnt badly along the way when my sentiments got too strong, and coming in here to read member posts from different perspectives has helped tremendously in recovering from those losses. FX trading is a never ending learning journey for me.

Whenever I am in a trade I will be focused on managing the trade and hence may not be able to post my charts here, and posting the analysis after the trade is closed will not serve any purpose and would probably be labelled as "hindsight analysis". Nevertheless, I will try to post my thoughts as much as possible from now, but it will definitely not be under this handle.

Thanks for the advise on the music... I will give that a try
  • #28,912
  • Mar 20, 2011 10:20pm Mar 20, 2011 10:20pm
Hi everyone, this is my 1st post in this thread.

IMHO the monthly chart is currently consolidating above the resistance and still looking good. It looks like it has flushed out a lot of weak bull holder during the rapid down last week. However the magnitude of the rapid down was too far below my expectation and it has followed by a nice recovery. So I think it was just a stop hunting for long term carry trades holders.

Personally I would expect a 1.02 breakout soon if we can form a long leg doji by the end of this month, and I am still a long term bull as long as it hold above 94cents.

p/s: Ops has everyone migrated to a new AUDUSD thread?
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  • #28,913
  • Mar 21, 2011 4:26am Mar 21, 2011 4:26am
Rally from commodities from Libya is showing worthy of aud rally, should be cap once headlines fad. Short from 1.0036 with open target, will stack shorts as bear trend develops.
  • #28,914
  • Mar 21, 2011 5:14am Mar 21, 2011 5:14am
Short 1.0049
  • #28,915
  • Mar 22, 2011 1:59am Mar 22, 2011 1:59am
Quoting ely
Short 1.0049
Well, it took some time here dude...but we made it back to R1...

Now, do we cross here and completely wipe out your account, or should this have been the mark you waited for???
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,916
  • Mar 22, 2011 2:34am Mar 22, 2011 2:34am
Quoting evelee8
Velywrong - oh oh . you also from sg?

Hope to see your new nick soon..
=P

AUD/USD breaking higher to 1.0040..
Heard of strong buying under a UK name..
Big player..
With this up move you should have achieved your TP i believe...

Congrats!

Your fellow SG trader...
  • #28,917
  • Mar 22, 2011 2:58am Mar 22, 2011 2:58am
Quoting Magix
Well, it took some time here dude...but we made it back to R1...

Now, do we cross here and completely wipe out your account, or should this have been the mark you waited for???
This bull looks strong. A bearish pin is forming in 1H which could possibly bring this back to the previous resistance at 1.007 or previous support at 1.003. If both supports do not hold it might dip back to test parity again.

Waiting for London open to look for a good position to go long.
  • #28,918
  • Mar 22, 2011 3:03am Mar 22, 2011 3:03am
Lol there are two AUDUSD threads! I just noticed. I've been posting on the "wrong" thread for a while.
  • #28,919
  • Mar 22, 2011 3:08am Mar 22, 2011 3:08am
Quoting kandarv
Lol there are two AUDUSD threads! I just noticed. I've been posting on the "wrong" thread for a while.
There's no right or wrong thread, but it seems most senior members have migrated to the other thread...
  • #28,920
  • Mar 22, 2011 3:48am Mar 22, 2011 3:48am
Quoting skipismad
This bull looks strong. A bearish pin is forming in 1H which could possibly bring this back to the previous resistance at 1.007 or previous support at 1.003. If both supports do not hold it might dip back to test parity again.

Waiting for London open to look for a good position to go long.
New high printed, 1H bear pin invalidated.

1.02 here we come...
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