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AUD/USD

  • #34,701
  • Oct 20, 2011 4:15am Oct 20, 2011 4:15am
Quoting andri66
Price just ranging between 1.0150 & 1.0380 as Support/Resistance for few days..will just buy/sell near that level for now..Good Luck !!
If 1.0150 breaks cleanly, Im shooting big guns for a 0.9980 target (the next support levels)
  • #34,702
  • Oct 20, 2011 4:38am Oct 20, 2011 4:38am
well....my SL just got blown into oblivion. surely no one saw that coming?
  • #34,703
  • Oct 20, 2011 4:45am Oct 20, 2011 4:45am
this short aint looking good. that efsf news is risk appetizer

However,

"According to guidelines document, EFSF will be able to buy bonds on secondary market if Euro-zone country has sustainable debt."
Greece is not qualified to sell bonds to EFSF....

"German finance minister says still no agreement on whether and how to leverage EFSF $$"
In short, they still dont have any money on the table.

Im in short @ 1.250 SL 1.0315 for a 1.0170 TP (or lower if we can get there)
  • #34,704
  • Oct 20, 2011 5:00am Oct 20, 2011 5:00am
Quoting taxe91
hmm the last time aus bounced off support it went 220+ pips..thats a wee bit worrying
130 pips this time..
  • #34,705
  • Oct 20, 2011 5:07am Oct 20, 2011 5:07am
Quoting taxe91
well....my SL just got blown into oblivion. surely no one saw that coming?
Just another day in forex .. I think before a strong break of that Support area & Resistance hold by utl ,price just up & down in between..
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  • #34,706
  • Oct 20, 2011 5:20am Oct 20, 2011 5:20am
A small change this time. I short EUR at 1.3820. Hope even AUD follows the same path. Seems like the conditions for EFSF to be stringent.
  • #34,707
  • Oct 20, 2011 5:24am Oct 20, 2011 5:24am
Please follow this for info,

http://www.forexfactory.com/news.php?do=news&id=321239

Looks like i am in trap
  • #34,708
  • Oct 20, 2011 5:45am Oct 20, 2011 5:45am
SSI as of Wednesday, 19 October 2011 17:10 GMT

AUDUSD is now almost -2.0 (or 2/3 of traders are short)

The bigger this number the more it will drive the other side (bull)
Attached Image (click to enlarge)
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  • #34,709
  • Oct 20, 2011 6:06am Oct 20, 2011 6:06am
Quoting Associated Press
"Greece is getting its hands on the next batch of bailout loans, according to a draft of a debt inspectors' report obtained by The Associated Press. Although the inspectors said Greece has missed its targets to get borrowing down and that the pace of reforms were insufficient, they said Athens will get euro8 billion ($11 billion) of bailout loans so the country can avoid bankruptcy."
http://hosted.ap.org/dynamic/stories...MPLATE=DEFAULT
In other words, if you owe someone a lot of money, dont pay them and they will give you more money.

I will keep this in mind the next time I have a huge loan (from a local loan shark) and about to get stabbed in the next 3 steps.
  • #34,710
  • Oct 20, 2011 6:25am Oct 20, 2011 6:25am
Quoting BurgerKing
In other words, if you owe someone a lot of money, dont pay them and they will give you more money.

I will keep this in mind the next time I have a huge loan (from a local loan shark) and about to get stabbed in the next 3 steps.
Hi you!Can I have your skype or yahoo!I want to ask you something!Wait for your accept!!
  • #34,711
  • Oct 20, 2011 7:23am Oct 20, 2011 7:23am
Quoting FX-Petra
Haven't been able to keep up with the news today. Don't know what has sparked the sell off. Maybe I will get a chance to buy under 0150 again. We'll see.

Regards,
Well, how about that. Woke up to find my entry order of 0145 missed by 3 pips!!! O well, money is only something I need in case I don't die tomorrow....

still long 0130 and 0250. Holding for 0350-0400 area.

Regards,
  • #34,712
  • Oct 20, 2011 7:28am Oct 20, 2011 7:28am
Quoting BurgerKing
SSI as of Wednesday, 19 October 2011 17:10 GMT

AUDUSD is now almost -2.0 (or 2/3 of traders are short)

The bigger this number the more it will drive the other side (bull)
Usually true. However, SSI is only and indicator. I have seen it be wrong for months at a time. At some point, we will be a lot higher and a lot lower than we are right now. Which comes first?

Regards,
  • #34,713
  • Oct 20, 2011 8:02am Oct 20, 2011 8:02am
Quoting FX-Petra
Usually true. However, SSI is only and indicator. I have seen it be wrong for months at a time. At some point, we will be a lot higher and a lot lower than we are right now. Which comes first?

Regards,
Before AUD dropped, SSI was net Long.
Before the rise, SSI was net Short and it still is Net Short.

But SSI do change. When?

When there are alot of Shorts, some would stubbordly hold till they die (account zero) or they quit the race when they get a little retrace (ie, short @ 1.0000, price went up to 1.0400, then down to 1.0150 and they close at 1.0180). During these times, Shorts will lessen as price go down and bingo, we get Net Long instead.

I am a firm believer of SSI. It is however NOT something I could trade on an HOURLY Basis but on a larger time frame of at least Daily. So it dont make any sense to folks trading 5Min bars.

ANd true, SSI is just another Indicator, just as much like any other ones out there like FIB, MA, MACD or combo of sort. Indicators are LAGGING - I use it in combo with others as confirmation.
  • #34,714
  • Oct 20, 2011 8:44am Oct 20, 2011 8:44am
Quoting FX-Petra
Well, how about that. Woke up to find my entry order of 0145 missed by 3 pips!!! O well, money is only something I need in case I don't die tomorrow....

still long 0130 and 0250. Holding for 0350-0400 area.

Regards,
Just closed my 0250 @ break even. Looks like I will be able to get a better price lower.

Regards,
  • #34,715
  • Oct 20, 2011 9:32am Oct 20, 2011 9:32am
Looking for a short now, h4 bullish failed to hold and seems to be obeying the daily bearish tl
  • #34,716
  • Oct 20, 2011 9:54am Oct 20, 2011 9:54am
Quoting BurgerKing
SSI as of Wednesday, 19 October 2011 17:10 GMT

AUDUSD is now almost -2.0 (or 2/3 of traders are short)

The bigger this number the more it will drive the other side (bull)
Hi Burger,where can I get this indicator?It looks quite interesting!
  • #34,717
  • Oct 20, 2011 9:59am Oct 20, 2011 9:59am
Quoting kaka_ht
Hi Burger,where can I get this indicator?It looks quite interesting!

The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


(Weekly)
http://www.dailyfx.com/technical_analysis/sentiment/



(Twice Daily - needs an account)
https://plus.dailyfx.com/fxcmideas/intraday-list.do
  • #34,718
  • Oct 20, 2011 10:05am Oct 20, 2011 10:05am
Added another short @ 1.02 after the break of that stubborn 1.023 area. Now averaged 2 lots @ 1.0225.
Repeated mistakes I make is "not protecting profit". So I moved SL to 1.0210. Im looking for a 1.0170~ 1.0160 TP (a little above daily low)

very volatile market. need to protect my shorts.
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  • #34,719
  • Oct 20, 2011 10:19am Oct 20, 2011 10:19am
Quoting BurgerKing
Added another short @ 1.02 after the break of that stubborn 1.023 area. Now averaged 2 lots @ 1.0225.
Repeated mistakes I make is "not protecting profit". So I moved SL to 1.0210. Im looking for a 1.0170~ 1.0160 TP (a little above daily low)

very volatile market. need to protect my shorts.
Very good work!I like it,my friend!!
  • #34,720
  • Oct 20, 2011 10:22am Oct 20, 2011 10:22am
Quoting FX-Petra
Just closed my 0250 @ break even. Looks like I will be able to get a better price lower.

Regards,
Re-enter @ 0175. Still long on 0130. We'll see what happens!

Regards,
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