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AUD/USD

  • #34,581
  • Oct 17, 2011 10:00pm Oct 17, 2011 10:00pm
Hit the daily TL of channel at 1.0365 ish, I plan on Golding short for some time, I don't have target, and if I said it, I might get laughs, but .90 ish around it, so I said it anyway, don't care.
  • #34,582
  • Edited 10:18pm Oct 17, 2011 10:07pm | Edited 10:18pm
LOL.. Good luck..! Fully engufling daily candle can give way to 9969 in my book.

ps..projected targets for shorts in my chart
Attached Image (click to enlarge)
Click to Enlarge Name: au4hr1017.gif Size: 39 KB
  • #34,583
  • Oct 17, 2011 10:42pm Oct 17, 2011 10:42pm
Showing a daily and 4hr close below the 1.0230ish area.
Waiting "PAY"-tiently for price to retest this zone before collapsing further.

I also like the .9969 area for an ititial target... Longer term... would not be surprised to see price test the recent low just below .9400
  • #34,584
  • Oct 17, 2011 11:04pm Oct 17, 2011 11:04pm
maybe pullback to 1.0260 where 50% ret & kijun sen covrage
  • #34,585
  • Oct 17, 2011 11:12pm Oct 17, 2011 11:12pm
Quoting taxe91
short at 1.019
how to pass the time while waiting for your position to heat up..
  • #34,586
  • Edited Oct 18, 2011 1:09am Oct 17, 2011 11:46pm | Edited Oct 18, 2011 1:09am
I'm in my second try with short positions at 1.0210 and 1.0200 (Got 40 pips the first try)

Hoping to secure another 40 pips at least.

Closed.. secured another 30 pips..
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,587
  • Oct 17, 2011 11:59pm Oct 17, 2011 11:59pm
Quoting taxe91
how to pass the time while waiting for your position to heat up..
Take a walk at the park or mall..then come back after London open
  • #34,588
  • Oct 18, 2011 12:04am Oct 18, 2011 12:04am
Short AUD/USD at 1.02210, looking for a downside move to 1.01640 level
  • #34,589
  • Oct 18, 2011 12:30am Oct 18, 2011 12:30am
Quoting andri66
Take a walk at the park or mall..then come back after London open
managed to kill an hour and a half so far...another hour and a half to go
  • #34,590
  • Oct 18, 2011 12:59am Oct 18, 2011 12:59am
i dont suppose anyone here can tell me how reliable the oanda fx lab statistics are?

http://fxtrade.oanda.com/analysis/fo...r-book#AUD/USD

its showing a really dominant group of short positions below 1.02, and a few buy orders at 1.01 and 1.00.. also shows a LOT of buy orders all the way up at 1.08
  • #34,591
  • Oct 18, 2011 1:27am Oct 18, 2011 1:27am
Quoting taxe91
i dont suppose anyone here can tell me how reliable the oanda fx lab statistics are?

http://fxtrade.oanda.com/analysis/fo...r-book#AUD/USD

its showing a really dominant group of short positions below 1.02, and a few buy orders at 1.01 and 1.00.. also shows a LOT of buy orders all the way up at 1.08

interesting that on almost all pairs, their clients are in the wrong positions. Short below the market, Long above the market. Most of forex players are losing money is damn real shown there.
I mean what I say, I say what I mean
  • #34,592
  • Oct 18, 2011 1:42am Oct 18, 2011 1:42am
Plan to short aud at 1.05 failed. Standing on the sidelines waiting for an obvious pattern. Anyone care to contribute their strategy?
  • #34,593
  • Oct 18, 2011 1:50am Oct 18, 2011 1:50am
Quoting rnegoro
Plan to short aud at 1.05 failed. Standing on the sidelines waiting for an obvious pattern. Anyone care to contribute their strategy?
Just my dumb strategy :
- Previous High : 1.1070
- Latest low : 0.9380
If price close to 1.1/ I'll start selling and if price close to 0.94 /I'll start buying..Good Luck !!
  • #34,594
  • Oct 18, 2011 1:57am Oct 18, 2011 1:57am
Quoting Neosaladin
interesting that on almost all pairs, their clients are in the wrong positions. Short below the market, Long above the market. Most of forex players are losing money is damn real shown there.
It's actually interesting to note that the long lines correlates a strong support or resistance level. Take the 3 longest lines in the graph, 1.08 , 1.00 and 1.01, these levels are inflection points. I don't know how to paste graphs like the others but you can check the history.


The huge buy order in 1.08 is most likely a stop loss someone placed (1.08 is a good resistance level). I highly doubt it's an open buy at 1.08 ( i wouldn't open a buy personally, unless i get a high volume that breaks resistance, weak volumes that break resistance is usually a turnaround). If you recall in my previous threads, I planned to open sell at 1.05 , SL at 1.08 and TP at 1.01( decent support as it was broken before).
  • #34,595
  • Oct 18, 2011 2:29am Oct 18, 2011 2:29am
Quoting Neosaladin
interesting that on almost all pairs, their clients are in the wrong positions. Short below the market, Long above the market. Most of forex players are losing money is damn real shown there.
Quoting rnegoro
It's actually interesting to note that the long lines correlates a strong support or resistance level. Take the 3 longest lines in the graph, 1.08 , 1.00 and 1.01, these levels are inflection points. I don't know how to paste graphs like the others but you can check the history.


The huge buy order in 1.08 is most likely a stop loss someone placed (1.08 is a good resistance level). I highly doubt it's an open buy at 1.08 ( i wouldn't open a buy personally, unless i get a high volume that breaks resistance, weak volumes that break resistance...
thanks guys, very insightful. especially the parts about how it shows that mots traders are unfortunately losing traders and that the 1.08 orders could just be stop losses
  • #34,596
  • Oct 18, 2011 3:14am Oct 18, 2011 3:14am
Has been a good trading days to far for the bears.... hope it continues down... got some positions that I need to divest
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,597
  • Oct 18, 2011 3:49am Oct 18, 2011 3:49am
My day has been up and down and up. Got a 15pip this morning, then got wiped out for -30 (wasn't at my screen there was a crazy little rally), now clawed all that back to be up 10 pips for the day, scalping all the way.

At the moment the main S/R is at 144, a line created on Friday. We have confirmed a downtrend at this time and we 75% towards to bottom of that downtrend channel, which is at 1.0080.
  • #34,598
  • Oct 18, 2011 4:27am Oct 18, 2011 4:27am
thats the second time since london opened that the pair has bounced violently off 1.0118 area.. climbed 60 pips last time wonder how far it will get this time
  • #34,599
  • Oct 18, 2011 5:09am Oct 18, 2011 5:09am
just closed short from 01970 (76 odd pips) went short from 21 55 ema cross on 1 minute chart. Confirmed by the break below the 200 EMA trend
  • #34,600
  • Edited 6:53am Oct 18, 2011 5:41am | Edited 6:53am
Quoting taxe91
thats the second time since london opened that the pair has bounced violently off 1.0118 area.. climbed 60 pips last time wonder how far it will get this time
Based on the supply and demand theory, at most you might have one more bounce before the area will break...

Secured another 45 pips... waiting for another entry point.

Got in at 1.0162 and exited 1.0140 for another 22 pips (4 positions)
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
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