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  • #921
  • May 10, 2011 11:32pm May 10, 2011 11:32pm
Quoting ferndog
Unless we see a break below 1.0830 i see a long with SL at 1.0830 & TP at the 161.8 at 1.0918


Edit - with some caveats... Being we seem a bit sideways now... And my fibs offer up higher targets ;-) 1.084 region seems to be holding at least.
  • #922
  • May 10, 2011 11:40pm May 10, 2011 11:40pm
Quoting Jazznos


Edit - with some caveats... Being we seem a bit sideways now... And my fibs offer up higher targets ;-) 1.084 region seems to be holding at least.
Agreed... just looking at a good RR...so maybe this can hit the TP...see what happens. GL
  • #923
  • May 11, 2011 12:14am May 11, 2011 12:14am
Quoting lasty
No.. Im a seller.. sorry for the confusing words... jumped in....

I think its one of those days where we can be both right and wrong ..
Happy Tradings
Interesting. Yes, confusing. You state the AUD is in an uptrend yet you short it. Odd strategy.
Depending on your timing, it could work but you're fighting the trend. Silver, gold, oil, S&P futures all up right now and you're short. Sounds like shorting AUD is a very low percentage play to me.
  • #924
  • May 11, 2011 12:37am May 11, 2011 12:37am
Quoting iflyjetzzz
Interesting. Yes, confusing. You state the AUD is in an uptrend yet you short it. Odd strategy.
Depending on your timing, it could work but you're fighting the trend. Silver, gold, oil, S&P futures all up right now and you're short. Sounds like shorting AUD is a very low percentage play to me.
Yes the overall picture is Aussie in an uptrend.
To me we are in a consolidating phase - a breather- and we have been churning around between 1.06 -1.09..
I am aware that a break of 1.0930 cud spark a renewed rally.. but equally a H&S pattern is forming which could force a sell off.
Dont worry.. I respect the trend but sometimes the trend doesnt respect me .. Its a low pct play as you say but im not looking for much.. ONLY $$$
  • #925
  • May 11, 2011 12:48am May 11, 2011 12:48am
Quoting lasty
Yes the overall picture is Aussie in an uptrend.
To me we are in a consolidating phase - a breather- and we have been churning around between 1.06 -1.09..
I am aware that a break of 1.0930 cud spark a renewed rally.. but equally a H&S pattern is forming which could force a sell off.
Dont worry.. I respect the trend but sometimes the trend doesnt respect me .. Its a low pct play as you say but im not looking for much.. ONLY $$$
Yes it was a tad confusing mate...! What kind of strategy are you employing and what sort of pip targets? Otherwise were all speaking a bit of a different language...

Im basically going off "ABCD" retracements and support/resistance... trend/trendlines and price action. NO INDICATORS! You can see my fib in my profile pic. My ideal trade is a move AB, retrace to C and target D, which is given by the bull and bear targets in the fib. Doesent always come off of course but nice when it does. Should be good for 50-100+ pips commonly. I used to scalp smaller amounts, but its way too stressful and hit and miss. Why do that when you can get on bigger runs and have less exsposure to volatility and bigger profits? Anyway just preachin a little ;-)
  • #926
  • May 11, 2011 1:16am May 11, 2011 1:16am
Quoting Jazznos
Yes it was a tad confusing mate...! What kind of strategy are you employing and what sort of pip targets? Otherwise were all speaking a bit of a different language...

Im basically going off "ABCD" retracements and support/resistance... trend/trendlines and price action. NO INDICATORS! You can see my fib in my profile pic. My ideal trade is a move AB, retrace to C and target D, which is given by the bull and bear targets in the fib. Doesent always come off of course but nice when it does. Should be good for 50-100+ pips commonly. I used to...
Im bearish AUD under 1.0900-20 area whilst overall trend still remains up.
1.0810 initally shud support a down move then 1.0750 1.0880-00 shud contain up
Im also seeing historical lows on GBP/AUD as it approaches 1.5000
Sure to be buyers there first up..
Also GBP cud come under pressure tonight..

we are sitting in the mid of todays supposed range .. I hope we both make some..
  • #927
  • May 11, 2011 8:12am May 11, 2011 8:12am
Censorship at its extreme:

http://www.forexfactory.com/showthre...=1#post4609834
  • #928
  • May 11, 2011 10:00am May 11, 2011 10:00am
Quoting lasty
Im bearish AUD under 1.0900-20 area whilst overall trend still remains up.
1.0810 initally shud support a down move then 1.0750 1.0880-00 shud contain up
Im also seeing historical lows on GBP/AUD as it approaches 1.5000
Sure to be buyers there first up..
Also GBP cud come under pressure tonight..

we are sitting in the mid of todays supposed range .. I hope we both make some..
Nice call on the short. I hope you left it on and made/make money on it. I'm still on the other side of the trade.
  • #929
  • May 11, 2011 11:11am May 11, 2011 11:11am
Quoting iflyjetzzz
Nice call on the short. I hope you left it on and made/make money on it. I'm still on the other side of the trade.
FML! I saw the bearish englufing pattern on the 4 hour chart and entered a short position, only to close it out for a smaller profit than right now if I had held on!!!

Well...better a profit than a loss...
  • #930
  • Edited 6:51pm May 11, 2011 11:33am | Edited 6:51pm
OMG Why it's down so hard! >_<
I opened buy.
Fortunately my margin is still enough.
Please...stop going down and up..up...up...LOL
  • #931
  • May 11, 2011 12:19pm May 11, 2011 12:19pm
Quoting FX-Petra
Got long 1 lot @ 1.0700. Targeting new high @ 1.1100. Stop @ 1.0480. Will add another lot if we dip towards 0550 and it holds. We'll see where she goes... all dip buying has been rewarded since last fall. Good trades to all.

Regards,
Added another long @ 1.0705. Stop loss for both lots is 1.0480.

Regards,
  • #932
  • May 11, 2011 12:56pm May 11, 2011 12:56pm
Quoting FX-Petra
Added another long @ 1.0705. Stop loss for both lots is 1.0480.

Regards,
a wise plan, muhahahhaahaha
  • #933
  • May 11, 2011 5:47pm May 11, 2011 5:47pm
Plan of attack today..

1.0900 held .. was a big level IMO
Im looking to sell towards the 1.0740 area first up and hopefully we get a suckers rally after unemployment numbers..
1.0780-00 should contain.
Initial support 1.0620 then 1.0560 my target 1.0500

Happy punting ..
  • #934
  • May 11, 2011 6:18pm May 11, 2011 6:18pm
Quoting lasty
Plan of attack today..

1.0900 held .. was a big level IMO
Im looking to sell towards the 1.0740 area first up and hopefully we get a suckers rally after unemployment numbers..
1.0780-00 should contain.
Initial support 1.0620 then 1.0560 my target 1.0500

Happy punting ..
Dayummm... Well i didnt see that coming. Good on you for picking it! I didnt have loads of S/R that i could see at that level, where were you getting it from, or was it mainly the number?
  • #935
  • May 11, 2011 6:30pm May 11, 2011 6:30pm
i was waiting for it and then i went to bed (i live in gmt -5, right now gmt-4 for daylight savings time)...by the time i looked the move was gone:-(

Quoting Jazznos
Dayummm... Well i didnt see that coming. Good on you for picking it! I didnt have loads of S/R that i could see at that level, where were you getting it from, or was it mainly the number?
  • #936
  • May 11, 2011 6:39pm May 11, 2011 6:39pm
Quoting mpurdy1973
i was waiting for it and then i went to bed (i live in gmt -5, right now gmt-4 for daylight savings time)...by the time i looked the move was gone:-(
Yup i had stopped trading for the night too.. all pairs went nuts after that... *sigh*... Before that i didnt know what they were gonna do so I resolved to stay out anyway. Better than than jumping in when you dont know the lay of the land...
  • #937
  • May 11, 2011 6:46pm May 11, 2011 6:46pm
Well, it looks like Lasty got the last laugh on us bulls today; nevertheless I added to my long position. Looks like we are in for a down week, however. Maybe it will be a good buying opportunity?
When economic chaos befalls the market, let us not feel too guilty about taking advantage of others' misfortune. After all, when the politicians mess up, who are they going to blame? Well, first of all, us speculators. http://www.forexfactory.com/images/icons/icon7.gif
  • #938
  • May 11, 2011 6:51pm May 11, 2011 6:51pm
Quoting jerrycollie
Well, it looks like Lasty got the last laugh on us bulls today; nevertheless I added to my long position. Looks like we are in for a down week, however. Maybe it will be a good buying opportunity?
When economic chaos befalls the market, let us not feel too guilty about taking advantage of others' misfortune. After all, when the politicians mess up, who are they going to blame? Well, first of all, us speculators. http://www.forexfactory.com/images/icons/icon7.gif
When I went to bed, commodities were ripping higher along with AUD. I slept through a good part of the downdraft.
  • #939
  • May 11, 2011 6:54pm May 11, 2011 6:54pm
Quoting Jazznos
Dayummm... Well i didnt see that coming. Good on you for picking it! I didnt have loads of S/R that i could see at that level, where were you getting it from, or was it mainly the number?
I have a couple of tech heads that I know who came up with a similar level.. Its always good to have a couple who dont know each others work
Dont ask me how they came to it.. Cos they are both crackers but good at drawing lines..
  • #940
  • May 11, 2011 7:14pm May 11, 2011 7:14pm
Quoting PualRichers
OMG Why it's down so hard! >_<
I opened buy.
Fortunately my margin is still enough.
Please...stop going down and up..up...up...LOL

Further CME margin hikes on commodities overnight might have lead to some position squaring.

Looking for buying opportunities around 106.5
Profits are a gift from retail traders to me.
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