AUD/USD

I had a nice short waiting at 1.0230. Don't know what Eur session will get up to. Guess it depends on how the bailout hope is being perceived today.

Closed -5 - Now Short 91 break of the median. No one took it on that second run up off the median, so perhaps someone will on the downside.

Interesting article for the fundmental players with European worries ahead.

http://online.wsj.com/article/SB1000...TTopCarousel_1

Does anybody else find it interesting when moving averages provide some support levels that is outside of Fib areas, even when it's minor?

(Edit) Hmm,... Looks like it's going to provide more than just minor support at the moment )

Yes ... so much S&R to choose from though, add it all together its at every level almost !

Interesting move today .. I've seen this before, a big spike up and then a ranging shock wave after, ranging smaller and smaller (lower highs and higher lows), but soon it will pop when the range is small enough and a trend line is broken.

Closed that one for +15 so just green for the day, but it was a sloppy trade.

I had +18 and +20 starring at me twice today, but didn't or couldn't take them .... but if I had I assure you the market would have really taken off then hehe !

anyone knows what just happened?

AU just reversed for 70 pips within the last 30 minutes (not that I'm complaining)

*edit* finally can post without having my post moderated first.... wooo hoo

I closed my short, so that made it drop another 30 points

It's Europe waking up and doing its thing, no idea why.

Selling it again, based on a little flag on the 50 line (which was the 40 line yesterday).

wow first for me...

my platform entire system collapsed during that....

kind of an intense feeling even with a stop in place.. good thing i was short haha

It was a violent move there are several gaps in the price on the way down.

Apparently market needs to be reminded about the risks..

http://www.dailyfx.com/forex/market_..._of_Risks.html

Cliff bellow 37 !

Must have been a trampaline at the bottom.

Ive got a question for all you AUD/USD sellers.

Apologises if my tone seems rude or insulting, its not meant in that way, im just a very direct talker when it comes to trading though...


My question to all of you though is-

If you want to sell the aussie dollar (so bet on the aud weakening over the next few hours-days) why on earth would you choose to do it through selling the aud/usd,
which has already crashed down a huge amount over the past few weeks (and even though its bounced over the last few days) its now just totally mid-range (and so in my view and extremely foolish and risky area to do do any trading in).....,
Instead of doing the Aud selling vs the Canadian dollar??


As unlike the Aud/Usd pair which is currently midrange, so a very risky and foolish place to enter any trades due to the potential of movement on both sides,
the AUD/CAD pair is currently just below the highest level that its been in the last 6years, so seems like a vastly more logical and clever area to enter a sell trade at.



Especially since-

*The AUD/CAD has ALSO risen 4-5% over the last few days like the aud/usd and so is very likely due for a pullback of 1-2% over the next few hours-days.

*Aud/Cad is now following the aud/usd almost pip for pip,
since the cad element of the pair is basically irrelevant for now and so its merely a trade on the direct strength or weakness of the AUD.

*The pair has previously made a very strong triple top formation just above this level (about 120pips above current),
and each time the market hit that level it was then thrown down very hard and fast for 500-600pips.

*The potential further upside for the pair (without it reaching new record highs) is very limited vs the potential downside for the pair from the current level is very big.




I personally sold Aud/Cad lastnight at 1.0336 (unfortunately 15minutes before the spike from aussie jobs number),
my stoploss is set at 1.0580 and target level is set at 1.0169 (although i would like 1.0124 depending on the way it moves downwards).

And have attached a chart of the pair, as i know most people are not familiar with it due to it being an exotic.




But so i am just curious as to why those of you who have shorted AUD yesterday/today have choosen to do it through the mid range Aud/Usd pair instead of doing it from the top of peak Aud/Cad pair??

Have a look at Eur/Usd, vs Aud/USD tell me they aint the same chart..?

short from 1.01909

news up coming

who else is scared...

Ive put on my brown trousers just to be safe...

It's all the S&P in the end !

I'm still short, but its been Red, Green, Red Green, Red Green for hours... it just can't break that 37 again .. i count 7 tries to get through and even when it did once it bounced.

[quote=Spanish89;5037621]Ive got a question for all you AUD/USD sellers.

Some guys scalping..so they based at m15 or m5 even m1 looking for opportunity to buy/sell based on the PA..For the longer term trader ,i think they already sell from around 1.1..just my thought ..Good Luck !!

Where's Canada ?