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AUD/USD

  • #35,281
  • Nov 3, 2011 2:29am Nov 3, 2011 2:29am
Quoting rafiqhidayat
True.

Shorts have been really good this week. Closed another 360 pips worth of positions today.

Waiting on the sidelines for better entry positions.
congrats brother

just closed one of my shorts too, had to lock in some profit since i made a loss trying to short the retracement yesterday

relying on a bounce back to 0250 hopefully before ny opens so i can reenter. i'll be kicking myself if i come back and we're at 1.01 but oh well whats done is done
  • #35,282
  • Nov 3, 2011 4:36am Nov 3, 2011 4:36am
Quoting taxe91
looking at another bounce to around 0260?
im pondering closing one of my shorts at 0220 to lock in some profit and get in short again (hopefully at a better price) before ny
a bit more than that looking for 1.0400... unless we reverse at this area here and head back down... about to hit a stop level here gonna see where it goes
  • #35,283
  • Nov 3, 2011 4:40am Nov 3, 2011 4:40am
Quoting fxjawn
a bit more than that looking for 1.0400... unless we reverse at this area here and head back down... about to hit a stop level here gonna see where it goes
fair enough, yep interesting to see if it turns out to be a stop hunt
  • #35,284
  • Nov 3, 2011 5:17am Nov 3, 2011 5:17am
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 18 KB
  • #35,285
  • Nov 3, 2011 5:25am Nov 3, 2011 5:25am
Quoting taxe91

relying on a bounce back to 0250 hopefully before ny opens so i can reenter. i'll be kicking myself if i come back and we're at 1.01 but oh well whats done is done
well i got the bounce...150 pips worth.. now im just too scared to reenter in the face of this rally. sitting back till ny/tomorrow now
  • #35,286
  • Nov 3, 2011 5:28am Nov 3, 2011 5:28am
It is really crazy how the market reacted this way inspite of looming europe crisis.

That goes to show you, forex is gonna screw your logic/reasoning.
  • #35,287
  • Nov 3, 2011 5:32am Nov 3, 2011 5:32am
Quoting BurgerKing
It is really crazy how the market reacted this way inspite of looming europe crisis.

That goes to show you, forex is gonna screw your logic/reasoning.
the bigger the bubble, the bigger the collapse when it finally bursts..

only in forex could rumours of an imminent government collapse send the market on this tear

edit: and now we've gone 35 pips and counting in the opposite direction in about 10 minutes. whats driving this market?! surely that rally wasnt just a stop hunt
  • #35,288
  • Nov 3, 2011 5:38am Nov 3, 2011 5:38am
Quoting taxe91
the bigger the bubble, the bigger the collapse when it finally bursts..

only in forex could rumours of an imminent government collapse send the market on this tear

edit: and now we've gone 35 pips and counting in the opposite direction in about 10 minutes. whats driving this market?! surely that rally wasnt just a stop hunt

...I don't think you understand the forces at work in this market. In order to succeed in this game you must have a creative imagination.
  • #35,289
  • Nov 3, 2011 5:50am Nov 3, 2011 5:50am
Quoting Warwick
...I don't think you understand the forces at work in this market. In order to succeed in this game you must have a creative imagination.
the forces that i know of in this market are buyers and sellers.

it would help me out if you explained what im missing. what was that rally, unpricing the greek referendum? rumours of a new greek government? what i see right now is the negative (i.e. china today implying they wont contribute to the EFSF) fundamentals outweighing the positive.

i did in fact close one short at 1.0210 if you happened to catch my post earlier but i definitely didnt expect a bounce like this.

you also told me my shorts at 0530 and 0560 a couple days ago were 'pretty numbers' and i should expect stagnant price action around those levels, but didnt explain why?

  • #35,290
  • Nov 3, 2011 7:25am Nov 3, 2011 7:25am
Quoting taxe91
the forces that i know of in this market are buyers and sellers.

it would help me out if you explained what im missing. what was that rally, unpricing the greek referendum? rumours of a new greek government? what i see right now is the negative (i.e. china today implying they wont contribute to the EFSF) fundamentals outweighing the positive.

i did in fact close one short at 1.0210 if you happened to catch my post earlier but i definitely didnt expect a bounce like this.

you also told me my shorts at 0530 and 0560 a couple days ago were 'pretty...
In terms of Elliot Wave Analysis... the AU just experienced a textbook Expanded Flat pattern... a corrective move with difinitive targets.this should hit at least 10455 IF.... big IF... this is indeed an expanded flat... I caught longs... 1 lot @ 10247, 1 @ 10227 and one @ 10211, and one lot unfilled @ 10174. The only problem with my trades was I didnt trust my own research and bailed way too early at around 10255 for all three lots. Shucks - gotta trust what we know and see... my original target was 10428, see if we get there.
  • #35,291
  • Nov 3, 2011 7:27am Nov 3, 2011 7:27am
Quoting FX-Petra
Took another long on the dip @ 0300. Just closed it @ 0350. Chicken, I know. Still long from 0350 and 0550. Also still long from 0130, but I am holding that one for a while.

Regards,
Long triggered overnight @ 0250, and closed @ 0350. Still holding 0350 and 0550.

Regards,
  • #35,292
  • Nov 3, 2011 7:29am Nov 3, 2011 7:29am
Quoting fxjawn
a bit more than that looking for 1.0400... unless we reverse at this area here and head back down... about to hit a stop level here gonna see where it goes
covering here for 165 pips profit... almost made it to my target 20 pips off.. wanted to cover pre data
  • #35,293
  • Nov 3, 2011 7:56am Nov 3, 2011 7:56am
Quoting deanoracer
In terms of Elliot Wave Analysis... the AU just experienced a textbook Expanded Flat pattern... a corrective move with difinitive targets.this should hit at least 10455 IF.... big IF... this is indeed an expanded flat... I caught longs... 1 lot @ 10247, 1 @ 10227 and one @ 10211, and one lot unfilled @ 10174. The only problem with my trades was I didnt trust my own research and bailed way too early at around 10255 for all three lots. Shucks - gotta trust what we know and see... my original target was 10428, see if we get there.

a chart for your review
Attached Image (click to enlarge)
Click to Enlarge Name: AU.11.03.11.EpandedFlat.JPG Size: 52 KB
  • #35,294
  • Nov 3, 2011 7:59am Nov 3, 2011 7:59am
Quoting redsword11
Attachment


Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 19 KB
  • #35,295
  • Nov 3, 2011 8:11am Nov 3, 2011 8:11am
i was in profit, now i am at loss...

hate waking up with a loss
  • #35,296
  • Edited 8:58am Nov 3, 2011 8:37am | Edited 8:58am
took a small/mini lot short at 0415. slapped a trailing stop on it now, may add when all the dust settles tomorrow morning (sydney market)


Quoting deanoracer
In terms of Elliot Wave Analysis... the AU just experienced a textbook Expanded Flat pattern... a corrective move with difinitive targets.this should hit at least 10455 IF.... big IF... this is indeed an expanded flat... I caught longs... 1 lot @ 10247, 1 @ 10227 and one @ 10211, and one lot unfilled @ 10174. The only problem with my trades was I didnt trust my own research and bailed way too early at around 10255 for all three lots. Shucks - gotta trust what we know and see... my original target was 10428, see if we get there.
thanks mate, very insightful.

and i know that annoyance of closing out a trade too early, but you can still enjoy that satisfaction of knowing you predicted the price action with almost perfect precision. definitely something to take confidence from. not to mention you still made a profit
  • #35,297
  • Nov 3, 2011 8:43am Nov 3, 2011 8:43am
Quoting deanoracer
a chart for your review
nice count bud!
Don't have an ego. Always question yourself and your ability.
  • #35,298
  • Nov 3, 2011 9:00am Nov 3, 2011 9:00am
Quoting RamsesII
nice count bud!

Thanks for the nice comment... we missed our projected target by 10 pips... the trade would have closed at my limit order target and I would be dancing a jig... had I left the emotion out of it!!! Ah Well... there will be many more
  • #35,299
  • Nov 3, 2011 9:04am Nov 3, 2011 9:04am
Quoting taxe91
took a small/mini lot short at 0415. slapped a trailing stop on it now, may add when all the dust settles tomorrow morning (sydney market)

ahh silly me. didnt take my own advice and trade with confidence, shouldve taken a bigger position on this.. oh well live and learn

edit: i dont suppose anyoens watching the press conference? cant stream it where i am right now, trying to work out why these pairs are falling off the cliff
  • #35,300
  • Nov 3, 2011 9:18am Nov 3, 2011 9:18am
Quoting taxe91
ahh silly me. didnt take my own advice and trade with confidence, shouldve taken a bigger position on this.. oh well live and learn

edit: i dont suppose anyoens watching the press conference? cant stream it where i am right now, trying to work out why these pairs are falling off the cliff
dont worry mate, trade with small lot is always good, you will eventually grow your balance and will trader larger later !!
I miss the chance to short this pair and I am waiting for another chance now
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