AUD/USD

Now, slow down here fella...

Zillions of questions, got your fingers flying in a frenzy...

Just because I think you are a moron, doesn't mean that you are, I really just read indicators.

Now, to address a couple of things here.

1. Yes, you should start listening to me, if not me in particular, maybe just somebody that will tolerate you long enough to teach you something
2. I cannot be swallowed by market.
3. IF you don't give a monkeys nipple what I make, why ask?
4. My chart was not using an indicator per se, it was an evaluation of market based on support and resistance ranges, also refereed to as a TECHNICAL ANALYSIS.
5. I cannot tell you the positions of my trades, cannot show you the accounts that they are with and will not disclose the brokers I use. I teach people to trade, I do this for free, my trading is where I prosper, on this, my accounts are confidential...

Now, I will pretend that you are going to understand what I am saying here, so will explain under that premise.

We are currently short cycle and below daily roll, which shows as R1 on the chart. Attempt and fail could see market dipping to the Support levels marked on the chart by S1 and S2...If we clear this level then I would anticipate another attack at the top of the chart, listed as R2 and move on to the next levels in the daily chart I posted and linked you to earlier.

Once we have found support or resistance, I will move onto a longer time frame and reassess my position.

Well said, Magix.

I am subscribed to your Magix MTF thread in the other forum, still reading the earlier posts to catch up and hoping to implement the system soon.

I have great respect for your patience and generosity in sharing your knowledge and experience in trading...

Finally - it hit.
Accidentally Long one position @ 1.0136 - *sigh*.
Yesterday interest was a good one. (i think most of the trader with Long position will know what i mean if they have hold their Long position and closed it @ 1.0150.)

Daily Trend Index = Strongly Bullish
Current OB/OS index - it is oversold.
Moving Averages

EMA5 EMA10 EMA20 EMA50 SMA100 SMA200
Value 1.0135 1.0134 1.0134 1.0126 1.0109 1.01
BIAS Neutral Neutral Neutral Buy Buy Buy

Should be pulling back to parity, 9950 region should hold. Looking for aussie top off in 1.03-1.04 region in mid-April.

Hey Evelee...As a fellow Moving Average trader, I appreciate your use and levels, some of my faves as well...

Just figured I would share a little area we have here I missed on a previous chart.

Check the spike highs yesterday during Sydney/Tokyo sessions and look at the exact line of support...from spike highs yesterday to support today.

Previous low shows a band of support leaving the midline as a pretty crucial turnpoint.

Price still caught below daily roll over but definitely a line of support here...

Welcome to the MTF thread my friend, feel free to post questions and thoughts, when I am not around, there are a few others working with the same ideas.

Mates,

It seems that we were wrong to think of the bearishness on AUD/USD. It is not the time to think that. Bullishness will go forward.

Well, I'll be looking towards the Aussie close tomorrow to see the start of a possible swing trade to the south.

Only thing I really need to see by 6:00 pm tomorrow is the high not breached. A bear candle would be even better.

Target is .9967. Don't like to hold this baby long because of interest rate to the south side. It's a long time until 6 tomorrow, will reevaluate then.

OMG ~ Magix - (not trying to show off or what ) That is really a Nice chart!
Unlike someone like me - lazy to post chart and graph.
(Ehem..Pardon me for not doing that .. )
But I still will not forget to look at it before I enter the market.
It still serve as part of my fundamental check besides the market movement and market news.

anyway ~ there are really many traders out there in silent mode which are doing far more better than anyone here.
And of course - there are also people out there "enjoying" losing their money while observing the market..
Too many type of different people in this world - and this is just the way they are. =P

I did come across with someone in the forum (he show me the screen to prove..how nice is he..) has hold a Long position at 0.96 since last year until now.
By looking at interest per month for ONE standard lot (he never tell me how many lot(s) he holds it) - already enough for him to get a lucrative allowance payout per month. =X

Another Updates:
Market has moved from strongly bullish to slightly bullish (15 min trending).
Market is Slightly Bearish (1 hour trending).
Market is still Strongly BULLISH (1 day trending).

EMA5 EMA10 EMA20 EMA50 SMA100 SMA200
Value 1.0128 1.0128 1.013 1.0127 1.0114 1.0105
BIAS Neutral Neutral Sell Neutral Buy Buy

Enjoying the friendly and helpful atmosphere over there, but would rather go through the older posts to get the basics right before asking stupid questions and slowing everybody down. Am about halfway through the 80 pages now.

I think the aussie will range trade for quite some time, the RBA looks set to hold onto rates for months ahead, there will be a lack of a catalyst that is needed to penetrate below 0.97 and above 1.03

looks like she will go up more... but certainly not to 1.03... maybe around the highest... 1.025... i have one short pair at 1.01.... another one if touch above 1.02.... more if she passes through 1.025....

1.0180 should be hit today.

Currently H1 is showing divergence. H4 MACD's signal MA has crossed. D1 is also showing divergence.

Closed my wrong trade Long at 1.0140 @ 1.0160
Closed my one month Long position 1.0158 @ 1.0163.
Phew..this is at least one of my most worried pair during Japan crisis time. =P
Continue to hold my last two Long AUD/USD.

Closed my Long at NZD/USD (Sorry for posting NZD here) ==" 100+ pips for opening at 0.7357.
Left one opening.

Latest updates:
The raise is due to the sharp built up by Eur/Usd macro demand.

Daily moving average:Moving Averages EMA5 EMA10 EMA20 EMA50 SMA100 SMA200
Value 1.0051 1.0029 1.0038 1.0028 0.9985 0.9595
BIAS Buy Buy Buy Buy Buy Buy

Which is the correlation beetween Aud/Usd and Eur/Usd ?

there's many web pages giving this info.
e.g.
http://www.mataf.net/en/tools/01-01-correlation

Looks like buyers defended their area nicely...Whuda Thunk?

A pull back into the demand zone and money started to flow in.

Chart 1, support zones. (previously posted)
Chart 2, current.

I think this is my personal observation - might be right or might be wrong.
If there is a big buy for eur VS usd - the aud normally will follow with some spike.

It is possible for the pairs to move independently based on whether EUR and AUD are moving on independent strengths or weakness or if they are moving in relation to USD strength and weakness.

Check out the charts between EU and GU as of current.

Where Cable has continued to fall Euro has bounced back on up.

When typically they will move in the same direction, but somewhat different ranges, the correlation has completely been broken. They are now moving not just based on USD weakness, but also strength of AUD and EUR with weakness on GBP.

Correlation trading can be difficult and can turn you into a large bagholder when the correlation breaks. It is always best to trade each pair off their independent charts.