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AUDUSD for informed traders

  • #321
  • Mar 31, 2011 1:52am Mar 31, 2011 1:52am
Still short from 317, i do have a reasonable stop, though there's now two minor supports to overcome, 317 and 330, price action is not the best ATM.
The R/R from a trade like this will be enormous if it works out, and that is the only reason why i will persevere.
Should also point out for new traders, what I'm doing is not something that should be followed, however i really never give a damn what other traders think about the way i trade.
There are plenty of trades i take the convectional way ( following trend structure) and they are boring as all hell, much more exciting to jump in front of the bus!
Biggest joker
  • #322
  • Mar 31, 2011 2:07am Mar 31, 2011 2:07am
Quoting baron193
Still short from 317, i do have a reasonable stop, though there's now two minor supports to overcome, 317 and 330, price action is not the best ATM.
The R/R from a trade like this will be enormous if it works out, and that is the only reason why i will persevere.
Should also point out for new traders, what I'm doing is not something that should be followed, however i really never give a damn what other traders think about the way i trade.
There are plenty of trades i take the...
It's allso effective way to get yourself killed. Enyway, wish you best of luck, still holding long from 1.0220 and banking free pip every night.
  • #323
  • Mar 31, 2011 2:53am Mar 31, 2011 2:53am
Quoting spot
It's allso effective way to get yourself killed. Enyway, wish you best of luck, still holding long from 1.0220 and banking free pip every night.
haha...good advice.
  • #324
  • Mar 31, 2011 2:57am Mar 31, 2011 2:57am
Quoting FX-Petra
closed my GU long for +120 pips! How did you make out on your long Jade?

Regards,
Nice going Petra. Better than me! Closed it for 95.
  • #325
  • Mar 31, 2011 3:18am Mar 31, 2011 3:18am
Quoting tkhlam
haha...good advice.
On the contrary. Just exercise some care today, last day of the month and last day of the quarter. If market has a mind to exit out of risk, this would be a good day for it, especially ahead of NFP tomorrow.

There is TA evidence on the crosses to support this view (i.e. that market is already exiting from risk). (EUR/AUD and GBP/AUD).

Also keep a watch on gold and silver for bear traffic.
  • #326
  • Mar 31, 2011 3:20am Mar 31, 2011 3:20am
Quoting spot
It's allso effective way to get yourself killed. Enyway, wish you best of luck, still holding long from 1.0220 and banking free pip every night.
That should have happened years ago if that is the case, don't worry about me, after all i don't worry about you....
Biggest joker
  • #327
  • Mar 31, 2011 3:23am Mar 31, 2011 3:23am
Quoting Jade Gate
On the contrary. Just exercise some care today, last day of the month and last day of the quarter. If market has a mind to exit out of risk, this would be a good day for it, especially ahead of NFP tomorrow.

There is TA evidence on the crosses to support this view. (EUR/AUD and GBP/AUD).

Also keep a watch on gold and silver for bear traffic.
Agreed. I have beed watching quite closely for a potential pre-NFP round.
  • #328
  • Mar 31, 2011 3:56am Mar 31, 2011 3:56am
I pointed out a couple of days ago, it is a counter trend entry and it has interest differential against it, so even though it is worth a try to short at this level ( i do have my reasons) it has to be a cautious trade, no wild averaging in.
When "core" trading longer TF's i scale in entries with the first one looking the worst, (how many times have you missed out on an entry just because you level wasn't hit, or you weren't there to enter manually?) subsequent ones could be averaging in, or entering on trend structure.
If wrong i get out, simple!
Biggest joker
  • #329
  • Mar 31, 2011 4:18am Mar 31, 2011 4:18am
It shows strength just as i type, stop above 50, but will judge PA around 50 for an exit before stop hit.
Biggest joker
  • #330
  • Mar 31, 2011 4:58am Mar 31, 2011 4:58am
As scary these fast spikes can look they can be a good thing, stop just above now though, one more push and i'm out,
good luck trading, and have a good weekend.
Biggest joker
  • #331
  • Mar 31, 2011 5:08am Mar 31, 2011 5:08am
Quoting baron193
As scary these fast spikes can look they can be a good thing, stop just above now though, one more push and i'm out,
good luck trading, and have a good weekend.
I'm planning the exact opposite, I know it's like catching the falling knife but I have some callosity in the meanwhile

D1:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #332
  • Mar 31, 2011 7:26am Mar 31, 2011 7:26am
Guess it is starting point south
  • #333
  • Mar 31, 2011 7:37am Mar 31, 2011 7:37am
Quoting tkhlam
Guess it is starting point south
Any chance to break 1.0250? Seems 1.0360 is the peak for the recent uptrend from 0.9700. Any comment? Thanks.
  • #334
  • Mar 31, 2011 7:47am Mar 31, 2011 7:47am
S&P 500 seems to have just shown a change in bias, which should help AUDUSD keep that 1.0350 lid on.
  • #335
  • Mar 31, 2011 7:50am Mar 31, 2011 7:50am
from 1H, 4H chart shows that it's lack of momentum to going up further. But not sure.
  • #336
  • Mar 31, 2011 8:47am Mar 31, 2011 8:47am
10 blue daily candles in a row... This is getting a little ridiculos. However, the moves have not been very big, so my daily's still do not show overbought. Still waiting for a pull back to get long. Overbought should kick in near 400-425 area, will consider a careful, small short there.... but it will be damn hard to hit the sell button on this pair!!

Regards,
  • #337
  • Mar 31, 2011 9:03am Mar 31, 2011 9:03am
Quoting tkhlam
Any chance to break 1.0250? Seems 1.0360 is the peak for the recent uptrend from 0.9700. Any comment? Thanks.

hi mate, i might be wrong... but retracement from this level seem to reasonable... but 9700... seem abit unrealistic... my target is around at parity...... i have 3 short-ed level, one at 0250, 0290, 0310
Logics do not apply in FOREX
  • #338
  • Mar 31, 2011 9:14am Mar 31, 2011 9:14am
Retracement from today's high:
23.6% @1.0210, 38.2% 1.0150, 50%@ 1.0040, 61.8% @0.9960, and 100% @ 0.9700
  • #339
  • Mar 31, 2011 9:14am Mar 31, 2011 9:14am
Quoting bskwak1124
hi mate, i might be wrong... but retracement from this level seem to reasonable... but 9700... seem abit unrealistic... my target is around at parity...... i have 3 short-ed level, one at 0250, 0290, 0310
what's your stop level for your 3 shorted level? If i were you, i may close the 0250 at 0290 cos i guess it wrong.

Will you enter another short now? interesting to know.
  • #340
  • Mar 31, 2011 9:18am Mar 31, 2011 9:18am
Quoting mags01
Retracement from today's high:
23.6% @1.0210, 38.2% 1.0150, 50%@ 1.0040, 61.8% @0.9960, and 100% @ 0.9700
Short at 1.3045
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