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AUD/USD

  • #34,341
  • Oct 11, 2011 10:09pm Oct 11, 2011 10:09pm
Quoting Chillypiper
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..
Im basing my comment on the lastest posted chart.

FXCM updates their SSI chart 2-4 times a day. Previous to my last chart post, SSI was suggesting very slightly bullish bias. But after hitting parity, lots of folks jumped into the bull ride and this is when the bias turned bearish.

As you already know, 90~95% forex traders lose money. therefore, if we do the opposite, we win. This is the basis of SSI: "Do the opposite of what the most folks are doing". And this is what Im trying to do lately... still tricky to follow but very accurate.
  • #34,342
  • Edited 10:48pm Oct 11, 2011 10:32pm | Edited 10:48pm
Quoting BurgerKing
Im basing my comment on the lastest posted chart.

FXCM updates their SSI chart 2-4 times a day. Previous to my last chart post, SSI was suggesting very slightly bullish bias. But after hitting parity, lots of folks jumped into the bull ride and this is when the bias turned bearish.

As you already know, 90~95% forex traders lose money. therefore, if we do the opposite, we win. This is the basis of SSI: "Do the opposite of what the most folks are doing". And this is what Im trying to do lately... still tricky to follow but very accurate.
Problem is that it is everyone doing the same thing that moves the market, everyone shorts it drop. 2 traders can do the opposite thing and still both can loose money ... it's in the stoppes and targets. I think the trick is to pick the spots where he market is likely to move rapidly (S&R).



Still looking for a retrace to the current median. Some resistance at the moment on the bottom of the recent upchannel.
  • #34,343
  • Oct 11, 2011 10:46pm Oct 11, 2011 10:46pm
All right ! I get it now and appreciate the reply. I hope I don't fall into that other side ( as I've been there befor)... Keep those SSI coming. I'd like to see how the theory works out . Makes sense to me!

Quoting BurgerKing
Im basing my comment on the lastest posted chart.

FXCM updates their SSI chart 2-4 times a day. Previous to my last chart post, SSI was suggesting very slightly bullish bias. But after hitting parity, lots of folks jumped into the bull ride and this is when the bias turned bearish.

As you already know, 90~95% forex traders lose money. therefore, if we do the opposite, we win. This is the basis of SSI: "Do the opposite of what the most folks are doing". And this is what Im trying to do lately... still tricky to follow but very accurate.
  • #34,344
  • Oct 11, 2011 10:47pm Oct 11, 2011 10:47pm
Latest chart.
Attached Image
  • #34,345
  • Oct 11, 2011 10:50pm Oct 11, 2011 10:50pm
I guess i am looking at the wrong chart for the bounce..
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  • #34,346
  • Oct 11, 2011 10:57pm Oct 11, 2011 10:57pm
Quoting webart
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.
webart , Before and after closed ... the scalpers...

Got to go now ... see you later .

gl 2yr trades !
Attached Image(s) (click to enlarge)
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  • #34,347
  • Oct 11, 2011 11:03pm Oct 11, 2011 11:03pm
Bounced 15 points on the first sign of resistance ... its a fairly weak line now that one too. Where do we go now (sweet child of mine !). I think I'll wait until Europe comes online in a bit. Unfortunately busy at work hard to watch it all the time during these hours.
Attached Image
  • #34,348
  • Oct 11, 2011 11:47pm Oct 11, 2011 11:47pm
4h chart still bull but MACD divergent
put a sell limit at 1.000 with s/l 1.0040
go to sleep and will see what will happen when i wake tmr.
  • #34,349
  • Oct 11, 2011 11:53pm Oct 11, 2011 11:53pm
A Sell Limit order placed on the median line 9928.
  • #34,350
  • Oct 12, 2011 12:27am Oct 12, 2011 12:27am
Quoting webart
A Sell Limit order placed on the median line 9928.
Ive gone short on the bounce @ .9930 let those weak short bottle
  • #34,351
  • Edited 12:49am Oct 12, 2011 12:38am | Edited 12:49am
Good luck! I did too. may have a nother shot at some profit.. usdx seams to weaken, but heavy Resistance Mate..

Thank you for all your contribution to this thread dude. Please keep-er up!

Edit..SHE IS WEAKENING (USDLFX) UP A/U I GO TO BED NOW!


Quoting lasty
Ive gone short on the bounce @ .9930 let those weak short bottle
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  • #34,352
  • Oct 12, 2011 1:18am Oct 12, 2011 1:18am
this pair wanna hit parity again?
  • #34,353
  • Edited 2:31am Oct 12, 2011 1:46am | Edited 2:31am
Out of the office for an hour, back to see it sliced through that median like a knife through butter, and then took out the 618 (where my stop was) and still climbing ! That went well. And now we are back to the more powerful parallel line around 70 that has been a home for the AUD for days now. That's almost a 150 point range on the day, with no real news.

Looks like Yuchens entry around the parity level might be the one to go with. The upper parallel of todays down channel is at 90, so I think I will have to try again then and take any heat to parity (depending on fundamentals).

EDIT Short from 85, +20 Points stops BE Still Open.

EDIT Closed +25 going home.
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  • #34,354
  • Oct 12, 2011 3:09am Oct 12, 2011 3:09am
Time to enter some shorts
Just sold @ 9990

looking for 9780 around asian open tomorrow...

Going to add as I go...

Nice little setup here - triple top and expect this pair to drop back into the 'slow forming' down channel

if not only risking a few pips

good luck all
  • #34,355
  • Oct 12, 2011 3:15am Oct 12, 2011 3:15am
just TP'd on long from 9920. have another long from 9930 that im still running, plan on letting this rally die out fully before closing
  • #34,356
  • Oct 12, 2011 3:16am Oct 12, 2011 3:16am
No sign of reversal yet..bull can charge to 1.0250..Good Luck !!
  • #34,357
  • Oct 12, 2011 3:17am Oct 12, 2011 3:17am
Quoting taxe91
just TP'd on long from 9920. have another long from 9930 that im still running, plan on letting this rally die out fully before closing
40 pips in 2 minutes?!

...wish i'd held onto my first long too!
  • #34,358
  • Oct 12, 2011 3:25am Oct 12, 2011 3:25am
Glad I just scalped that last trade. What the made it jump like that ? More promises ? Volatility is one thing, but this is just silly.
  • #34,359
  • Oct 12, 2011 3:26am Oct 12, 2011 3:26am
10055

this is hairy, could backfire, but price is at extreme
  • #34,360
  • Oct 12, 2011 3:37am Oct 12, 2011 3:37am
Quoting webart
Glad I just scalped that last trade. What the made it jump like that ? More promises ? Volatility is one thing, but this is just silly.
gbp and euro jumped about 90 pips too. fairly sure there was no new data or comments.. got no explanation for this
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