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AUD/USD

  • #34,321
  • Oct 11, 2011 12:26pm Oct 11, 2011 12:26pm
Quoting Richie_Rich
Hi VeenD, Can you explain me more about your method? How do you define top and bottom of the range?
TLs / Channels crossing + fibos . EMAs for direction. Tfs - which one can best suit you. Understand that fibos. What will price do in each of the fibos level.

Each pair has different characteristics. Observe that . Hope that will make u a better trader for that particular pair.
  • #34,322
  • Oct 11, 2011 12:29pm Oct 11, 2011 12:29pm
Thanks a lot VennD. Please keep posting your trade here. I'm learning from your post.
  • #34,323
  • Oct 11, 2011 12:58pm Oct 11, 2011 12:58pm
Looking at daily i think we will see a down trend after making a new high around 1.002. With a retrace down to 98 (38.2 fib) before pushing properly through parity finding support around 1.01-1.02

Thats my story and im sticking to it. Currently short 9990 with stop at 1.004
  • #34,324
  • Oct 11, 2011 1:04pm Oct 11, 2011 1:04pm
Quoting stoleo
Looking at daily i think we will see a down trend after making a new high around 1.002. With a retrace down to 98 (38.2 fib) before pushing properly through parity finding support around 1.01-1.02

Thats my story and im sticking to it. Currently short 9990 with stop at 1.004
I didn't try and guess the top just put in my stop loss. Need 15 min to break trend line take a little retracement or two and then take a dive.
  • #34,325
  • Oct 11, 2011 4:31pm Oct 11, 2011 4:31pm
AUD/USD .9955

We saw some profit takers enter the market which was welcomed from some who missed the boat going up near .9900-10

We have had some news from Europe that Slovakia just voted no for EFSF expansion.. Oh dear..

Like I keep saying europe cant be pushed under the carpet and risk off may occur in this topsy turvy market..

Aust Govt votes on CO2 Tax this morning which will like go through despite public outcry.. Expect some nervousness in the energy sector ( sell equities?)

Still short looking for those bulls to stampede in a rush to the exit door..



Good luck
  • #34,326
  • Oct 11, 2011 5:18pm Oct 11, 2011 5:18pm
Quoting VennD
added to the above trades ...

short @ 0.9963 + long @ 0.9913 (+50 pips)
short @ 0.9964 + long @ 0.9910 (+54 pips)
short @ 0.9965 + long @ 0.9907 (+58 pips)

Grand total secured +1,270 pips ...

Good Luck to your trades ... !

Amazing performance, no loosers ! Forgive me if I am wrong, but arn't these trades posted in retrspect ? I'm just trying to follow on my charts and it's hard without the times you put the trades on.
  • #34,327
  • Edited 5:46pm Oct 11, 2011 5:34pm | Edited 5:46pm
My charts for this morning. Still in the same range as yesterday and respecting a short term up channel. No trade plans at this point, but I'll be watching with interest around bottom of this upchannel, which would also be a double dottom with yesterdays low. If there is little momentum and the market it just testing ranges, it might make a nice little long.
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  • #34,328
  • Oct 11, 2011 5:59pm Oct 11, 2011 5:59pm
Just a couple of quick updates that may or may not affect the AUD..

CO2 tax passed by lower house..as expected..Time will tell on the negative impact of the Australian economy.

Secondly US senate voted 63-35 on China currency measure.. This smells of a trade war and no doubt could impact Australian exports.

Just another reason to stay short ..
  • #34,329
  • Oct 11, 2011 6:10pm Oct 11, 2011 6:10pm
Yeah I'm thinking short side, hopefully we can get some ongoing momentum today. I've got a short order just under 44.
  • #34,330
  • Edited 7:19pm Oct 11, 2011 6:48pm | Edited 7:19pm
Short 44 next stop around 25 bottom of that upchannel.

EDIT - Home loans at 11:30 .. be a gamble to sit through that, looking to close on the bottom of this channel before that for a 20point scalp

EDIT +9 stoppes at BE due to home loan data.

EDIT Closed at +18 ... gotta do some real work now !
  • #34,331
  • Oct 11, 2011 7:20pm Oct 11, 2011 7:20pm
more and more traders jumping into the bull side of audusd as shown in this chart.

SSI suggest a drop in AUDUSD. EURUSD will rise though
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  • #34,332
  • Oct 11, 2011 7:28pm Oct 11, 2011 7:28pm
Very interesting data there. Havn't seen open interest in the FX market, not sure how they calculate it as FX isn't centralised like futures.

In the Encyclopedia of trading strategies out of everything they tested, only 2 'systems' where profitable under their strict criteria ... and the most profitable was based on open interest in the equity market (long time frame). The other interestingly was divergence using a momentum oscillator.
  • #34,333
  • Oct 11, 2011 7:35pm Oct 11, 2011 7:35pm
No nasty surprises in the home loan data and mission complete on that move. Now really must do some work !
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  • #34,334
  • Oct 11, 2011 7:37pm Oct 11, 2011 7:37pm
Hi B King, are you basing this off your prior chart? I get it that there are more buyers for the Aussie, but were are you showing a rise in fibber? Sorry I'm a bit slow..

Quoting BurgerKing
more and more traders jumping into the bull side of audusd as shown in this chart.

SSI suggest a drop in AUDUSD. EURUSD will rise though
  • #34,335
  • Oct 11, 2011 7:48pm Oct 11, 2011 7:48pm
Confidence up, loans up, employment projections for tomorrow up, monetary policy meeting minutes not until Monday.

Short term crack dollar parity.

Where are the short stops?
  • #34,336
  • Oct 11, 2011 8:04pm Oct 11, 2011 8:04pm
Still have 3 longs down below...Been playing the short, long, back short game.....Going for 120 or so. To demand zone.Is that too many?
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  • #34,337
  • Oct 11, 2011 9:21pm Oct 11, 2011 9:21pm
Dayam...Maybe I should'nt of put that TL there. Shes working too good..
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  • #34,338
  • Oct 11, 2011 9:29pm Oct 11, 2011 9:29pm
Now in a respected down channel. Be nice to see a retrace to the median (also a 50% retracement), I'd jump infront it if it gets up there without fundmentals.
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  • #34,339
  • Oct 11, 2011 9:39pm Oct 11, 2011 9:39pm
Dude, could ya give a bit of a BIGGER pic (zoom out) so we can see the origin of your fibs..Thank you!

Quoting webart
Now in a respected down channel. Be nice to see a retrace to the median (also a 50% retracement), I'd jump infront it if it gets up there without fundmentals.
  • #34,340
  • Edited 10:15pm Oct 11, 2011 9:43pm | Edited 10:15pm
hmmm, took me a long time to learn to draw those channels. I spend alot of time on my charts drawing them ... there are other time frames to worry about too, weekly and monthly are powerful, especially at the end of the week / month.

Shorting from 95, looking for 67. Stop tight at 9905

Edit - Stopped 9905. That's good, was due for a little looser.
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