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AUDUSD for informed traders

  • #601
  • Edited 5:40am Apr 20, 2011 5:37am | Edited 5:40am
Quoting needpips
We just tapped the upper 17 year TL again

WEEKLY
Attachment
I wouldn't call that a "trendline", i would call it "wishful thinking"
I must say i like the pretty colours though.
Please continue, don't let wishful thinking stop you.
Biggest joker
  • #602
  • Apr 20, 2011 6:05am Apr 20, 2011 6:05am
its gonna be ugly when the rug gets pulled....this is a classic bull trap
  • #603
  • Apr 20, 2011 6:42am Apr 20, 2011 6:42am
Quoting forexcompoun
Hi all,
please exit your AUDUSD short @ 1.0447 (price already touched it) and enter LONG @ the same price. What we have now is TREND RESUMPTION>
ENTRY
1.0447 SL 1.0347 TP 1.0650
Find chart attached.
Happy trading!
Meshach.
Nice and easy! Done!!
Hope we had a great time trading side by side last week?
Meshach.
  • #604
  • Apr 20, 2011 6:46am Apr 20, 2011 6:46am
Quoting forexcompoun
Nice and easy! Done!!
Hope we had a great time trading side by side last week?
Meshach.

u short ow since your target was hit (nice call by the way)
  • #605
  • Apr 20, 2011 6:48am Apr 20, 2011 6:48am
Quoting forexcompoun
Hi bro,
let not your heart be troubled. I came to this thread this week to be a blessing to everyone here. Please try to just follow my trade call even though it is with very very little money.

Truth be told, WE ARE DONE WITH AUDUSD FOR THIS WEEK this entry is ALL we needed to await all week long and we just made it! Now is the time to relax and watch your trade journey towards the TP we set.
Happy trading!
Meshach.
Truly, after this trade last week, we didn't need to bother ourselves. Time was all that was required to play out the rest.
Nice trading! Hope we made some pips with the calls I gave last week?
Meshach
  • #606
  • Apr 20, 2011 6:51am Apr 20, 2011 6:51am
Quoting needpips
u short ow since your target was hit (nice call by the way)
I'm not short yet but I've exited the long.
Meshach
  • #607
  • Apr 20, 2011 6:56am Apr 20, 2011 6:56am
Quoting forexcompoun
I'm not short yet but I've exited the long.
Meshach

awesome...im still short.....just biding my time....too much euphoria out there
  • #608
  • Apr 20, 2011 7:51am Apr 20, 2011 7:51am
Hi Meshach,

Sent you a message 2 days back, think you were busy! Anyway, nice call. God bless you!

Please let us know when you will be shorting too.

Arun Matt
  • #609
  • Apr 20, 2011 8:03am Apr 20, 2011 8:03am
It defies logic how anyone can still be short this pair. I don't even want to be short when we get a correction. It is just to reckless and dangerous. The message boards are litterd with people calling for shorts for the last 6 months. Most of them have gone dark and no longer participate in our forum. You cannot trade when you run out of money.

Regards,
  • #610
  • Apr 20, 2011 8:08am Apr 20, 2011 8:08am
Quoting FX-Petra
It defies logic how anyone can still be short this pair. I don't even want to be short when we get a correction. It is just to reckless and dangerous. The message boards are litterd with people calling for shorts for the last 6 months. Most of them have gone dark and no longer participate in our forum. You cannot trade when you run out of money.

Regards,
Hubris. It kills many a decent trader. I've fallen victim of it before so I understand the psychology of being trapped in a bad trade.

In the shorts' defense, the AUD is a bit toppy here and the reason why I have reduced leverage.
  • #611
  • Apr 20, 2011 8:10am Apr 20, 2011 8:10am
Quoting FX-Petra
It defies logic how anyone can still be short this pair. I don't even want to be short when we get a correction. It is just to reckless and dangerous. The message boards are litterd with people calling for shorts for the last 6 months. Most of them have gone dark and no longer participate in our forum. You cannot trade when you run out of money.

Regards,
Check out clerks at the grocery are telling me to buy some gold.... I see a huge reality check a comin
  • #612
  • Apr 20, 2011 8:23am Apr 20, 2011 8:23am
Quoting FX-Petra
It defies logic how anyone can still be short this pair. I don't even want to be short when we get a correction. It is just to reckless and dangerous. The message boards are litterd with people calling for shorts for the last 6 months. Most of them have gone dark and no longer participate in our forum. You cannot trade when you run out of money.

Regards,
The trend is clearly up. Overbought perhaps but up. Fundamentally I believe the Feds have a vested interest in a weak us$ so there is no hurry to reverse these moves.

Yes you cannot trade with a zero account. Even if you spot the 1000pip trade if you cant get in all you can do is watch it happen if you have an empty and defeated account.

The lesson here is protect your account. Be selective and dont fight the trend
If you think you can or cannot do it you are correct
  • #613
  • Apr 20, 2011 8:43am Apr 20, 2011 8:43am
HA HA! I Love all the False rumors and propaganda around here. Awesome!
  • #614
  • Apr 20, 2011 9:19am Apr 20, 2011 9:19am
Quoting FX-Petra
It defies logic how anyone can still be short this pair. I don't even want to be short when we get a correction. It is just to reckless and dangerous. The message boards are litterd with people calling for shorts for the last 6 months. Most of them have gone dark and no longer participate in our forum. You cannot trade when you run out of money.

Regards,
Mornin Petra. Calling a top on the aussie is crazy, just crazy. While I do see a correction coming sometime in the near future, the obvious move is just to buy dips.

Trying to time a short here? Why not just try to pick up pennies off the train tracks? Seems that would be a safer endeavor.
"Timing Is Everything. Really I Swear It Is"
  • #615
  • Apr 20, 2011 9:33am Apr 20, 2011 9:33am
Meshach,

Think it will bounce back at 1.0701?

Arun Matt
  • #616
  • Apr 20, 2011 9:44am Apr 20, 2011 9:44am
Quoting TexasforEX
Mornin Petra. Calling a top on the aussie is crazy, just crazy. While I do see a correction coming sometime in the near future, the obvious move is just to buy dips.

Trying to time a short here? Why not just try to pick up pennies off the train tracks? Seems that would be a safer endeavor.
You dont think this is the top?
  • #617
  • Apr 20, 2011 10:04am Apr 20, 2011 10:04am
Quoting TexasforEX
Trying to time a short here? Why not just try to pick up pennies off the train tracks? Seems that would be a safer endeavor.
I just got coffee all over my computer screen. I'll be stealing this quote and recycling it at a later date.
  • #618
  • Apr 20, 2011 10:43am Apr 20, 2011 10:43am
Quoting myownenemy
You dont think this is the top?
You do?

As I said, nobody can say for sure either way. However, there is very little suggesting it will even retrace, let alone reverse.

If it does retrace to around the 4HR 200 ema, than I'd be a buyer. That's what the smart money is doing with this pair, buying dips.
"Timing Is Everything. Really I Swear It Is"
  • #619
  • Apr 20, 2011 12:15pm Apr 20, 2011 12:15pm
Quoting needpips
Check out clerks at the grocery are telling me to buy some gold.... I see a huge reality check a comin
Check out posts on the "SuperModel Indicator", it is along the same lines. Look, it is a financial fact that all bubbles end badly. We are certainly in bubble territory for this pair. GBP/JPY went throught the same thing a few years ago. When the music stopped, there was the little matter of a 13,000 pip decline. It is still sucking hind tit and has never recovered. But bubbles can go on and on, defying logic, with no way to know when it will burst. Can we go to 1.10 with A/U? Yes, we can. How about 1.20? yes, we can. And we may. At some point, the music will stop, things will reverse, and we will say "hello" to mr. 0.8500 again. However, this does not mean much to the small retail trader as we have neither the time, patience, or money to wait out such a reversal. Many accounts have already been crushed waiting on a reversal. Many more probably will be in the comming weeks/months. The relavent question is, "Will I be on of them"? I, for one, will not.

Regards,
  • #620
  • Apr 20, 2011 12:18pm Apr 20, 2011 12:18pm
Quoting FX-Petra
Check out posts on the "SuperModel Indicator", it is along the same lines....
Im solid till 1.10. I have a plan....been here before,....and will make 6 figures on the drop. I know things can get crazy and even extend well past common sense. The 2008 crash was no fluke and neither will the next leg down on the SPX.


***there is a huge 17 year line in the sand around these levels....I really believe we hit 1.15ish, but a breather here will initiate that run....Im still seeing .98-.95


***You also have to take oil into acct. Do you think it goes above the 2008 high? I dont. I think we see mid 60's first.
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