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  • #34,901
  • Oct 26, 2011 3:46am Oct 26, 2011 3:46am
Phew... Survived the rally squeze to 1.0394 by just 2 pips (4 pips spread broker = 1.0398 Ask) and we are now knocking at some support 1.0340s.

Im still in @ 1.03648 SL 1.0400 TP 1.03200 initial, then to 1.0280.
  • #34,902
  • Oct 26, 2011 3:58am Oct 26, 2011 3:58am
Quoting BurgerKing
Phew... Survived the rally squeze to 1.0394 by just 2 pips (4 pips spread broker = 1.0398 Ask) and we are now knocking at some support 1.0340s.

Im still in @ 1.03648 SL 1.0400 TP 1.03200 initial, then to 1.0280.
just survived that little rally (more like a stop hunt!) as well. short from 1.0385 and 1.0462, no TP but i will be closing these sooner rather than later
  • #34,903
  • Oct 26, 2011 4:40am Oct 26, 2011 4:40am
Quoting taxe91
just survived that little rally (more like a stop hunt!) as well. short from 1.0385 and 1.0462, no TP but i will be closing these sooner rather than later
this 1.0300 level provides a ton of supports! One in every 20 pips levels each with varying conviction/strength though.

In my last AUDUSD position (long 1.0350 ), i got stopped out when I moved my SL to BE+25 pips.. and yes, I got stopped out! otherwise, it could have fattened my account by 50%... today, I will just move SL to BE+2 pips once my initial TP is reached.
  • #34,904
  • Oct 26, 2011 4:51am Oct 26, 2011 4:51am
this is one hell of a trade.. now Im in red again...
  • #34,905
  • Oct 26, 2011 4:59am Oct 26, 2011 4:59am
the AUD is so unpredictable these days... breakouts or reversal "laws" don't seem to apply....
  • #34,906
  • Oct 26, 2011 6:17am Oct 26, 2011 6:17am
rumours everywhere that we wont get a definitive solution tonight..bulls still seeming defiant
  • #34,907
  • Oct 26, 2011 6:19am Oct 26, 2011 6:19am
Quoting taxe91
rumours everywhere that we wont get a definitive solution tonight..bulls still seeming defiant
Maybe even at the announcement that the summit is starting, the bulls would feel it's good to continue buying...
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,908
  • Oct 26, 2011 6:21am Oct 26, 2011 6:21am
Quoting rafiqhidayat
Maybe even at the announcement that the summit is starting, the bulls would feel it's good to continue buying...
i wouldnt be surprised. im still bearish on the pair so i dont mind.. to me it just seems like bulls are inflating the bubble further before it bursts
  • #34,909
  • Oct 26, 2011 6:28am Oct 26, 2011 6:28am
Quoting taxe91
i wouldnt be surprised. im still bearish on the pair so i dont mind.. to me it just seems like bulls are inflating the bubble further before it bursts
HOPE it is all HOPE.
  • #34,910
  • Oct 26, 2011 6:46am Oct 26, 2011 6:46am
Quoting BurgerKing
HOPE it is all HOPE.
cant help but think how high we would be if there actually was a feasible solution to europe on the cards
  • #34,911
  • Oct 26, 2011 6:58am Oct 26, 2011 6:58am
Quoting taxe91
cant help but think how high we would be if there actually was a feasible solution to europe on the cards
We could be 1.1000 by now.. or 1.1500 discounting the drop to 0.9400

Nobody loves USD. Everybody HATES USD.
  • #34,912
  • Oct 26, 2011 7:02am Oct 26, 2011 7:02am
Out of Europe:

50% Haircut a done deal. No details what to happen to the other 50%.. Maybe wait for another 3 months and then another 50% haircut .. rinse repeat.

Makes me wanna become a greek. Borrow all you can then dont pay...
  • #34,913
  • Oct 26, 2011 7:07am Oct 26, 2011 7:07am
Quoting BurgerKing
Out of Europe:

50% Haircut a done deal. No details what to happen to the other 50%.. Maybe wait for another 3 months and then another 50% haircut .. rinse repeat.

Makes me wanna become a greek. Borrow all you can then dont pay...
if this is true, then I would expect market direction now depends on usd data. 50% haircut would be neutral to the market as this was expected..No?

I can only assume that bad USD data equals a stronger usd...? anybody agree or disagree?
  • #34,914
  • Oct 26, 2011 7:21am Oct 26, 2011 7:21am
Quoting western
if this is true, then I would expect market direction now depends on usd data. 50% haircut would be neutral to the market as this was expected..No?

I can only assume that bad USD data equals a stronger usd...? anybody agree or disagree?

Hi All Good traders,

Quick question. When there is a bad news from US, why all the other currency goes down.

If the news is bad for us then Aud/usd , Eur/usd should go up is it?

Any thoughts.

Thanks.
KC.
  • #34,915
  • Oct 26, 2011 7:22am Oct 26, 2011 7:22am
Quoting western
if this is true, then I would expect market direction now depends on usd data. 50% haircut would be neutral to the market as this was expected..No?

I can only assume that bad USD data equals a stronger usd...? anybody agree or disagree?
Nowadays, bad USD Data means bad for Equities, bad for Risk, bad for commodities. Bad USD Data therefore will drive AUDUSD down. USDJPY down, EURUSD Down.

USD Durable Goods Order in 7 minutes. then there is USD GDP tomorrow.
but USD DGO is a minor news nowadays... GDP is big time news
  • #34,916
  • Oct 26, 2011 7:33am Oct 26, 2011 7:33am
Quoting BurgerKing
Out of Europe:

50% Haircut a done deal. No details what to happen to the other 50%.. Maybe wait for another 3 months and then another 50% haircut .. rinse repeat.

Makes me wanna become a greek. Borrow all you can then dont pay...
Quoting western
if this is true, then I would expect market direction now depends on usd data. 50% haircut would be neutral to the market as this was expected..No?

I can only assume that bad USD data equals a stronger usd...? anybody agree or disagree?
the approach im taking into the eu summit news is that any news that isnt bad news, is good news. the euro has been driven to 1.395 simply on the fact that greece isnt leaving the eu and there wont be a default (yet).

there is so much investor overconfidence currently that it is best (and safest) to not expect a massive bearish rally unless we get a breakdown in negotiations or something horrific along those lines. although i'l still be hoping for one!

note that this isnt the approach i take to normal news releases but in recent days ive felt we've been riding some pretty unsubstantiated bullish sentiment
  • #34,917
  • Oct 26, 2011 7:44am Oct 26, 2011 7:44am
Quoting taxe91
the approach im taking into the eu summit news is that any news that isnt bad news, is good news. the euro has been driven to 1.395 simply on the fact that greece isnt leaving the eu and there wont be a default (yet).

there is so much investor overconfidence currently that it is best (and safest) to not expect a massive bearish rally unless we get a breakdown in negotiations or something horrific along those lines. although i'l still be hoping for one!

note that this isnt the approach i take to normal news releases but in recent days ive felt...
There is so much indecision out there, resulting in a boring day. a 35 pip range for the euro this morning.
  • #34,918
  • Oct 26, 2011 8:04am Oct 26, 2011 8:04am
Quoting taxe91
just survived that little rally (more like a stop hunt!) as well. short from 1.0385 and 1.0462, no TP but i will be closing these sooner rather than later
just stopped out on both of these for a small profit. equity indices in europe are all up and new york futures are up too.

i almost definitely will re-enter but am going to sit back and get a better price first
  • #34,919
  • Oct 26, 2011 8:21am Oct 26, 2011 8:21am
Stopped out here too.. Only reds no blacks here.

Sigh.. When to take profit, when to move SL... its part of the game.
Damned if I do, Damned if I dont.

Cest la Vie.
  • #34,920
  • Edited 8:40am Oct 26, 2011 8:28am | Edited 8:40am
Quoting BurgerKing
Stopped out here too.. Only reds no blacks here.

Sigh.. When to take profit, when to move SL... its part of the game.
Damned if I do, Damned if I dont.

Cest la Vie.
I am fading this rally.....

that looked like a clear stop loss hunt...in the euro....alot of hits were made on that one...LOL. That was downright nasty and mean.
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