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AUD/USD

  • #29,581
  • Apr 26, 2011 8:44pm Apr 26, 2011 8:44pm
Quoting mpurdy1973
the problem is that we have nothing to compare to!!!
Stop using the AUD for your technicals. Use DXY. That's half of this trade and the USD is the driver here.
Or you can do like me and just sit back and enjoy the ride, adding to your position on pullbacks. I buy just above resistance levels and round numbers. I added a bit more tonight at 1.0802 and 1.08035 in front of the CPI numbers.

I'm up almost 40% on this trade by trading around my core position; buy on the dips and sell a bit on the rips.
  • #29,582
  • Apr 26, 2011 8:50pm Apr 26, 2011 8:50pm
okay thanx... i am long now at 1.0840 (took a few pips profit on the sell... thought i might drop back 20 pips before the the second leg up after to news)

Quoting iflyjetzzz
Stop using the AUD for your technicals. Use DXY. That's half of this trade and the USD is the driver here.
Or you can do like me and just sit back and enjoy the ride, adding to your position on pullbacks. I buy just above resistance levels and round numbers. I added a bit more tonight at 1.0802 and 1.08035 in front of the CPI numbers.

I'm up almost 40% on this trade by trading around my core position; buy on the dips and sell a bit on the rips.
  • #29,583
  • Apr 27, 2011 9:31am Apr 27, 2011 9:31am
Thank you AU!!! Be careful with a bounce near 1.0750.
Attached Image
  • #29,584
  • Apr 27, 2011 10:30am Apr 27, 2011 10:30am
I'm out. Sold everything going into the Fed minutes. I've had a great run and will take part of the day off to run some errands.
I'll look for a good dip while/after Bernanke's conference to rebuild a position.

I don't like the risk going into the Fed minutes + Bernanke's news conference.
  • #29,585
  • Apr 27, 2011 11:10am Apr 27, 2011 11:10am
Quoting iflyjetzzz
Stop using the AUD for your technicals. Use DXY. That's half of this trade and the USD is the driver here.
Or you can do like me and just sit back and enjoy the ride, adding to your position on pullbacks. I buy just above resistance levels and round numbers. I added a bit more tonight at 1.0802 and 1.08035 in front of the CPI numbers.

I'm up almost 40% on this trade by trading around my core position; buy on the dips and sell a bit on the rips.
I think you are completely wrong, if US index was a tradable information then why EURUSD and USDJPY making the bull run today? shouldn't it alway go opposite?
  • #29,586
  • Apr 27, 2011 12:45pm Apr 27, 2011 12:45pm
i have given up on technical trading with the aussie...just go buy on the dips.
  • #29,587
  • Apr 27, 2011 1:21pm Apr 27, 2011 1:21pm
Quoting mpurdy1973
i have given up on technical trading with the aussie...just go buy on the dips.
You have given up on technical trading Aussie?

Weren't you one of the ones guessing tops to sell...and now you are going to guessing bottoms to buy?

Just so you understand...you weren't technically trading before, and you are certainly not now...

Perhaps working with an actual technical analysis might improve not only your odds for success, but your win:loss ratio as well...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #29,588
  • Apr 27, 2011 1:23pm Apr 27, 2011 1:23pm
Just got back from lunch and I see it hit my STOP; thus, up at +5 (whenever my trade goes past 20 pips, I move STOP +5). If you were lucky enough to spot VSA, then we could have anticipated this. At approximately 8A, there was a large Volume run up all the way to 4H TF (I saw this on Interbank's volume - just now). VSA is quite reliable if you know how to read it.

I may re-enter if I see what the next 4HR candle does; 4H TF and its trend is one of the items I look for. 4HR is my main driver. If undecided, then I will wait until 12P EST. It is important to notice that around ~1.0850, price is retracting, so that will be key area also to review. Good Luck all.
  • #29,589
  • Apr 27, 2011 1:29pm Apr 27, 2011 1:29pm
Quoting mdrive
I think you are completely wrong, if US index was a tradable information then why EURUSD and USDJPY making the bull run today? shouldn't it alway go opposite?
No.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #29,590
  • Apr 27, 2011 2:41pm Apr 27, 2011 2:41pm
OMG!! We have just touched 086 as Ely predicted!!!!

(though he forgot the 1.086... )


P.S.: Sorry, couldn't resist...
Use me as a contrarian indicator
  • #29,591
  • Apr 27, 2011 3:09pm Apr 27, 2011 3:09pm
Calling Mr Ely...are you there toiletguts????

PS: i quite enjoyed it
Biggest joker
  • #29,592
  • Apr 27, 2011 8:53pm Apr 27, 2011 8:53pm
Unstoppable, its at 1.092.
  • #29,593
  • Apr 27, 2011 9:53pm Apr 27, 2011 9:53pm
Quoting baron193
Calling Mr Ely...are you there toiletguts????

PS: i quite enjoyed it

Such universal love for Ely! Where is he lately?

It is 1.0942. Haha, here comes 1.100.
  • #29,594
  • Apr 28, 2011 12:41am Apr 28, 2011 12:41am
HA! 1.1 here we come, maybe some retracement later with the reports till then i hope the 1.092 support holds. Gold pushing it up nice too.

I love the smell of pips in the morning
  • #29,595
  • Apr 28, 2011 6:33am Apr 28, 2011 6:33am
its standing higher side, correction is due.

i m short from 1.0918 and my first target 1.08610 (inshallah it will achived)
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 11 KB
Trade what you see, Not what you think.
  • #29,596
  • Apr 28, 2011 8:49am Apr 28, 2011 8:49am
Quoting khizer
its standing higher side, correction is due.

i m short from 1.0918 and my first target 1.08610 (inshallah it will achived)
i am not sure ,but 1.0880 may be a support point .
A chart helps those who can read it.
  • #29,597
  • Apr 28, 2011 8:57am Apr 28, 2011 8:57am
sorry to not post i closed at 8969


Quoting geniusztc
i am not sure ,but 1.0880 may be a support point .
Trade what you see, Not what you think.
  • #29,598
  • Apr 28, 2011 9:20am Apr 28, 2011 9:20am
Quoting khizer
sorry to not post i closed at 8969
will AU go to 1.1 ?
Attached Image (click to enlarge)
Click to Enlarge Name: HY~H`)`J@V89D_`AEIRYFP2.jpg Size: 105 KB
A chart helps those who can read it.
  • #29,599
  • Apr 28, 2011 10:37am Apr 28, 2011 10:37am
If price retraces my long entries will be at about 1.0880, 1.0853 and 1.0777. If the first 2 are triggered I am looking for approximately 1.1000, if the last is triggered I will be looking for 1.0940.
  • #29,600
  • Apr 28, 2011 10:38am Apr 28, 2011 10:38am
Quoting mdrive
I think you are completely wrong, if US index was a tradable information then why EURUSD and USDJPY making the bull run today? shouldn't it alway go opposite?
Thanks for the response. DXY is the dollar vs a basket of currencies; the currencies and weighting has been posted multiple times so I'm not going to do it again.
What's not included in that basket is AUD. Since AUD is 'off the charts' and at levels not seen since prior to the AUD starting to float in 1983, I would consider anything prior to that to not be relevent. So how much technicals can you do off of the AUD? If you must do technicals (I think that this is fundamentally driven with a devaluation of the USD), DXY would probably give you a better picture of where the pair is headed. Just my 2 centavos; worth exactly how much you paid for it.

I ended up holding my nose and buying back in AUD long in small chunks. I have a smallish position and will go back to selling resistance and buying support. It's worked for me so far; at some point it stops working - hopefully I'll be smart enough to step aside and not give up too much profits.
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