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AUD/USD

  • #32,801
  • Aug 30, 2011 12:42am Aug 30, 2011 12:42am
Quoting GoldMan.
I was seeing something else but oh well, i have filthy mind

A double top or a double bottom ?
  • #32,802
  • Aug 30, 2011 12:45am Aug 30, 2011 12:45am
Quoting lasty
A double top or a double bottom ?
Good one
  • #32,803
  • Aug 30, 2011 3:29am Aug 30, 2011 3:29am
Hi guys im short on Aud/USD, do you guys think it would drop to 1.0628, or would it further drop into 1.0594?

I just would like to know where would be a good profit target or place to put a TP
Have I got something on my face, SOLDIER?
  • #32,804
  • Aug 30, 2011 3:37am Aug 30, 2011 3:37am
I have a short on the Ozzie my target is around the 200ema of 1.0550 area. I use 4 hr charts so don't expect it to get there in a straight line. If your on shorter timeframe trail your stop and relax.
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  • #32,805
  • Aug 30, 2011 3:47am Aug 30, 2011 3:47am
Quoting Flatfish
I have a short on the Ozzie my target is around the 200ema of 1.0550 area. I use 4 hr charts so don't expect it to get there in a straight line. If your on shorter timeframe trail your stop and relax.
Thanks for the tip, im feeling that there is a pullback in motion in the ozzie, and how far up do you think this one would go?
Have I got something on my face, SOLDIER?
  • #32,806
  • Aug 30, 2011 4:01am Aug 30, 2011 4:01am
I was thinking Ozzie might form a doji/ small bearish candle today, and possibly hold up better than the other pairs. My stop is at break even as thing likes to go up with any excuse. so could bounce upto 1.0675 area, above that I would bail on the short with an hourly close above it and wait for a better shorting opp.
  • #32,807
  • Aug 30, 2011 8:04am Aug 30, 2011 8:04am
Hi total newbie to trading forums.. hope to get involved.

Nice tweezers on hourly chart, I think 10,640 is gonna hold, I'm long at exactly that.. looking for 10,700.
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  • #32,808
  • Aug 30, 2011 8:19am Aug 30, 2011 8:19am
So you're saying the downtrend might end? Im just looking for conservative profit at 1.0594, which would (god willing ) Would make me 56 pips. Do you think it'd reach there?
Have I got something on my face, SOLDIER?
  • #32,809
  • Aug 30, 2011 8:23am Aug 30, 2011 8:23am
Quoting fudoose
Hi total newbie to trading forums.. hope to get involved.

Nice tweezers on hourly chart, I think 10,640 is gonna hold, I'm long at exactly that.. looking for 10,700.
I respectfully disagree if you may. Im still short on this one. Candlestick formations alone are not enough (in my perspective) as a method to determining a trend. They are part of my toolbox in my system, and any of them alone, wouldn't be as powerful.

Whats your mind on it that made you go long?
Have I got something on my face, SOLDIER?
  • #32,810
  • Aug 30, 2011 8:29am Aug 30, 2011 8:29am
well, its a short uptrend. Im still short on this one.
Have I got something on my face, SOLDIER?
  • #32,811
  • Aug 30, 2011 8:33am Aug 30, 2011 8:33am
I love tweezers.. I mean really love them.. they seem to work more often than not, also there's a quite strong chunk of supp/res dating from April at this level. I think tweezers on an hourly chart and above are well worth trading alone.
  • #32,812
  • Aug 30, 2011 8:56am Aug 30, 2011 8:56am
I hope all you shorts are scalping and just trying for small gains. This is extremely dangerous, but as long as you have strict stops in place, perhaps you can make a go of it. Anyone short this pair over the longer term has had their account destroyed. Just scroll back in this thread to a year ago, note the traders calling for a big drop, and note the fact that they are all gone now. Until there is a FUNDAMENTAL shift in intrest rate expectations, there is no future in being short this pair, even on a medium term basis. Yes, short term risk aversion can and will cause some moves down, but they will be temporary in nature and the thirst for yeild will make this pair go up again.

REgards,
  • #32,813
  • Aug 30, 2011 9:28am Aug 30, 2011 9:28am
Quoting FX-Petra
I hope all you shorts are scalping and just trying for small gains. This is extremely dangerous, but as long as you have strict stops in place, perhaps you can make a go of it. Anyone short this pair over the longer term has had their account destroyed. Just scroll back in this thread to a year ago, note the traders calling for a big drop, and note the fact that they are all gone now. Until there is a FUNDAMENTAL shift in intrest rate expectations, there is no future in being short this pair, even on a medium term basis. Yes, short term risk...
Hi FxPetra,

I am going to be happy with at least 30+ pips profit. Does that sound like a reasonable short position? I OP short position at 1.0649. Its floating -12, but in maybe a couple of hours it would give me profit (god willing)

What do you think?
Have I got something on my face, SOLDIER?
  • #32,814
  • Aug 30, 2011 9:59am Aug 30, 2011 9:59am
i am short from 1.0655 wish to make got profit just 30 green pip
  • #32,815
  • Aug 30, 2011 10:49am Aug 30, 2011 10:49am
Quoting bumapatria
Hi FxPetra,

I am going to be happy with at least 30+ pips profit. Does that sound like a reasonable short position? I OP short position at 1.0649. Its floating -12, but in maybe a couple of hours it would give me profit (god willing)

What do you think?
At some point, you may be able to get out and be alright. I don't sclap anymore (after learning the hard way), but even if I did I would NEVER be short this pair.... or NZD/USD for that matter. These high yeild pairs are just stubborn and often defy logic with their resistance to retrace downward. Now E/U or G/U, that is a diffrent story. If you must push a sell button, look to do it on pairs like that. You'll have a much better chance of being successful over 1000+ trades.

Regards,
  • #32,816
  • Aug 30, 2011 10:52am Aug 30, 2011 10:52am
Hey thanks for the advice man, i should have took it though. my stop loss got hit and -41 pips. Lesson learnt: avoid shorting aussie, and NZD.
Have I got something on my face, SOLDIER?
  • #32,817
  • Aug 30, 2011 11:04am Aug 30, 2011 11:04am
Channel x00 x50 method:
Buy stop: 1.0700
Sell stop: 1.0600
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  • #32,818
  • Aug 30, 2011 11:08am Aug 30, 2011 11:08am
Quoting bumapatria
Hey thanks for the advice man, i should have took it though. my stop loss got hit and -41 pips. Lesson learnt: avoid shorting aussie, and NZD.
If you can really learn that lesson, and it only cost you 41 pips, that is damn cheap education!!! Hope the lesson sticks. So many keep repeating the same mistakes over and over again. Good trades to you!!!

Regards,
  • #32,819
  • Aug 30, 2011 11:18am Aug 30, 2011 11:18am
Beware, don't try this long at home.
Bearish Week.
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Holy Betting Grail strategy
  • #32,820
  • Edited 1:14pm Aug 30, 2011 1:03pm | Edited 1:14pm
... about 30 more minutes to be released ... it's always like this ... before and after that FOMC ... 100-300 pips votality ... therefore be extra caution ...

I have closed all scalpers in the middle ... only left short @ 689 and long @ 626 ...

Big guns are buying and selling against them ... let 'em fight ...

STOPS ... above 700 and below 600 ( relate them to your technicals )... the rest are ... just like me ... having a party in the middle .... gl !
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