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AUD/USD

  • #34,921
  • Oct 26, 2011 8:46am Oct 26, 2011 8:46am
Provided a good chance for me to short from 1.039x initial target was past 1.04 but after narrowly missing out an entry in the early europe session, i moved my entry down

all my signals on h4 are telling me to short the AUD

let's see how it unfolds for the rest of the week.
  • #34,922
  • Oct 26, 2011 8:54am Oct 26, 2011 8:54am
Quoting jayjb
Provided a good chance for me to short from 1.039x initial target was past 1.04 but after narrowly missing out an entry in the early europe session, i moved my entry down

all my signals on h4 are telling me to short the AUD

let's see how it unfolds for the rest of the week.
I think the oil inventories is the number to watch for this pair at 10:30....be on your toes. JMHO
  • #34,923
  • Oct 26, 2011 9:12am Oct 26, 2011 9:12am
wonder how the market is going to react if the decision is for the ECB to print off more money.. its simply delaying the inevitable but im sure a lot of speculative investors would see it as a solution
  • #34,924
  • Oct 26, 2011 9:19am Oct 26, 2011 9:19am
Quoting taxe91
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
so the us indices are paring their gains..nasdaq has turned south

..and i have re-entered short at 1.04. kindve regret not getting in at 0420 but i live to learn. have a trailing stop on this one as i want to guarantee some profits
  • #34,925
  • Oct 26, 2011 9:32am Oct 26, 2011 9:32am
hmm that was interesting. cnbc just had an 'expert' on recommending a sell trade on the aud/usd pair at 1.0475 with SL at 1.0550 and TP at 1.0275 depending on whether the gdp data tomorrow is < 2.4%
  • #34,926
  • Oct 26, 2011 9:42am Oct 26, 2011 9:42am
The stopped out loss earlier was totally unnecessary seeing how we are back to where we were.... but no SL is a bad idea should it should up instead and when AUDUSD was hovering aroudn 1.0420, getting stopped out was a relief..

hindsight is always correct. but we cant trade hindsight. It is one of those "very lagging" indicators meant to be used by so called "forex-gurus" offering USD1000 trading lessons...

Anyways, I went to short @ 1.03845 and with SL ATM @ 1.03820 (some pips to offer protection)... Sad to say i should have shorted EU instead.. then again hindsight.

I wanna see 1.0320 then 1.0260

taxe91, we wont be seeing 1.0475 seeing how we are now...
  • #34,927
  • Edited 9:59am Oct 26, 2011 9:49am | Edited 9:59am
Quoting BurgerKing
The stopped out loss earlier was totally unnecessary seeing how we are back to where we were.... but no SL is a bad idea should it should up instead and when AUDUSD was hovering aroudn 1.0420, getting stopped out was a relief..

hindsight is always correct. but we cant trade hindsight. It is one of those "very lagging" indicators meant to be used by so called "forex-gurus" offering USD1000 trading lessons...

Anyways, I went to short @ 1.03845 and with SL ATM @ 1.03820 (some pips to offer protection)... Sad to say i should have shorted EU...
couldnt agree more with pretty much everything you just said. especially the last two parts, we missed an opportunity for 150+ pips in about an hour by not shorting the euro. but i think there'll be better opportunities to come, im still bearish on that pair till it gets to its 1.31 levels again.

and in regards to the cnbc trade, thats exactly what i thought when i saw it. but i suppose when he was 'preparing' that trade idea yesterday or even earlier, the pair was still rallying towards 1.05. the train has definitely left the station on that trade idea but at least he had the direction right


edit: god i hope our first resistance level is not 1.0330 again..i would not handle another 90 pip bounce off it
  • #34,928
  • Oct 26, 2011 9:50am Oct 26, 2011 9:50am
I will feel very good if I pulled this through...

didnt have the conviction/anger towards eurusd to go big on that
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  • #34,929
  • Edited 10:47am Oct 26, 2011 10:02am | Edited 10:47am
damn quite jealous that you got in at 1.3850 on the euro. ive had a phobia since my early days of trading of jumping in on a falling ride cos too many times it turned right around on me. you've already got 30 pips on this one

my plan at the moment is to probably get out of the aus/usd position before the us gdp data tomoro and then direct my focus to shorting the euro

edit: 1 lot stopped out @ 1.035. have another lot with a stop placed at 1.038 and a TP at 1.03. if we get through this support level though i'll target 1.025 instead

edit 2: closed the 2nd lot @ 1.035 too, im getting the idea that i'll be able to get a better price to re-enter short again if i want, so im sitting back and waiting...again
  • #34,930
  • Oct 26, 2011 10:13am Oct 26, 2011 10:13am
Quoting taxe91
damn quite jealous that you got in at 1.3850 on the euro. ive had a phobia since my early days of trading of jumping in on a falling ride cos too many times it turned right around on me. you've already got 30 pips on this one

my plan at the moment is to probably get out of the aus/usd position before the us gdp data tomoro and then direct my focus to shorting the euro

edit: 1 lot stopped out @ 1.035. have another lot with a stop placed at 1.038 and a TP at 1.03
nothing to be jealous on the eurusd.. its a lame 0.5 lot
i should be jealous of you for getting out with small profit when I had was a loss when we got stopped out earlier.


im not risking waiting for audusd to drop further.. ran way with profits @ 1.03468 for a net 600+ profit
  • #34,931
  • Oct 26, 2011 10:24am Oct 26, 2011 10:24am
another 'expert' on cnbc saying the recent rallys on equities has been based on confidence that america will avoid another recession in 2012. and to a lesser extent because its earnings season

he says today and for the near future the market will trade based purely on europe and it wont be as fun for the bulls.

for a nice change i actually agree with this guy

whats your target for your euro short burger? looks like i could get a nice price to go short if theres a nice 50% retracement or so.. will probably hold out till tomorrow though
  • #34,932
  • Oct 26, 2011 10:48am Oct 26, 2011 10:48am
I wanna see 1.3680 - support from last week.
we could see it eventually drop even further...

small lots (low leverage) are for my long term runs.
  • #34,933
  • Edited 11:44am Oct 26, 2011 10:55am | Edited 11:44am
this 1.032x area is a tough nut to crack. twice today, all bounce
will wait to short at 1.0400 for a retest of 1.032 support.


ADD:
According to chartists, AUDUSD could rise back to 1.0425 (68% fib from 1.050 to current drop). Hmmm better price to short? or too high it may never come?

POI for AUDUSD: 10260 10300 10315 10380 10425 10440
  • #34,934
  • Oct 26, 2011 12:03pm Oct 26, 2011 12:03pm
Perhaps it will push. Perhaps it wont, only time will tell.
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  • #34,935
  • Oct 26, 2011 12:09pm Oct 26, 2011 12:09pm
The silence before the storm....

Gotta be prepared with all guns a blazin'
  • #34,936
  • Oct 26, 2011 12:38pm Oct 26, 2011 12:38pm
1.0385

Rise, Rise, Rise!
  • #34,937
  • Oct 26, 2011 1:10pm Oct 26, 2011 1:10pm
1.0400

Rise, Rise, Rise!
  • #34,938
  • Oct 26, 2011 2:52pm Oct 26, 2011 2:52pm
Hi All,

Any one trading Nzd/usd.

Think it will go atleast 40Pips down after the news.

KC.
  • #34,939
  • Oct 26, 2011 3:20pm Oct 26, 2011 3:20pm
down -12 pips on a long, still holding conviction that the 4 hour CCI is pointing us north.
  • #34,940
  • Oct 26, 2011 3:37pm Oct 26, 2011 3:37pm
a nice big push through 1.0400 would be rather nice. it's inching closer.
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