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AUD/USD

  • #35,721
  • Nov 16, 2011 2:32am Nov 16, 2011 2:32am
Quoting happytrader
what the hell was that... it's so misleading. my god. stupid aud
hey man, im sure you already have knowledge of this but take a look anyway: http://www.babypips.com/school/regular-divergence.html

compare that first image of 'bullish divergence' with the lower lows and the stoch readings on the 2H chart, depending on your parameters theres divergence from the 1.01607 low two days ago and the 1.00598 low today.

having said that this rallys been fueled by italy's bond yield dipping back under 7% again, http://www.bloomberg.com/quote/GBTPGR10:IND
  • #35,722
  • Nov 16, 2011 2:33am Nov 16, 2011 2:33am
Woo Hoo, time to short bubba
Come with me if you want to live....
  • #35,723
  • Nov 16, 2011 2:35am Nov 16, 2011 2:35am
Quoting Ill-b-back
Woo Hoo, time to short bubba
nice, what entry points are you looking at?
  • #35,724
  • Nov 16, 2011 2:40am Nov 16, 2011 2:40am
Rumor that china is ready to help eurozone
  • #35,725
  • Nov 16, 2011 2:41am Nov 16, 2011 2:41am
Woot..

My longs got closed at TPs...
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #35,726
  • Nov 16, 2011 2:43am Nov 16, 2011 2:43am
Quoting rafiqhidayat
Woot..

My longs got closed at TPs...
good work brother, always deserve some reward after having to wait out a losing trade


Quoting ragnakore
Rumor that china is ready to help eurozone
i thought the euro leaders said no to the conditions the chinese gave them?
  • #35,727
  • Nov 16, 2011 2:45am Nov 16, 2011 2:45am
Quoting taxe91
nice, what entry points are you looking at?
0128
Come with me if you want to live....
  • #35,728
  • Nov 16, 2011 2:48am Nov 16, 2011 2:48am
Quoting rafiqhidayat
Woot..

My longs got closed at TPs...
Put in a short at 1.0150 targeting 1.01 - 0.01 units
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #35,729
  • Edited 3:05am Nov 16, 2011 2:51am | Edited 3:05am
Quoting taxe91
i thought the euro leaders said no to the conditions the chinese gave them?
i thought so too... maybe they conceded to the conditions.
or its another "buy the rumor" thing thats not substantiated later - in which case short play

Quote
ECB Buying Italian Government Bonds, Traders Say
ECB Also Buying Spanish, Portuguese Bonds, Traders Say
Quote
$EUR gains as avg PIIGS 10y bond yield drops 19.3bps to lowest in 6 days. ECB buying said to be the culprit
im waiting for 1.0180 to sell. PA is very bullish
  • #35,730
  • Nov 16, 2011 2:53am Nov 16, 2011 2:53am
Quoting taxe91
good work brother, always deserve some reward after having to wait out a losing trade




i thought the euro leaders said no to the conditions the chinese gave them?
I've tried so many forex techniques, but I finally realized without proper risk management, non of the techniques can help you.

How I trade now is I still identify entry points (using S&D) but no SLs, but with TPs. As long as I obey my risk management rules, I will let the trade run until it hits it TP.

The results have been great, from only having a margin of 400% (lasting only 400 pips any direction), now I have a margin of 3000% (lasting 3000 pips in any direction)

Moral of the story : The most important part of forex trading is risk management.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #35,731
  • Nov 16, 2011 2:59am Nov 16, 2011 2:59am
Quoting ragnakore
i thought so too... maybe they conceded to the conditions.
or its another "buy the rumor" thing thats not substantiated later - in which case short play

im waiting for 1.0180 to sell. PA is very bullish
from what i remember they were pretty fair conditions, i think one of them was for europe not to publicly criticise china's fixed exchange rate policy anymore? that was one of the more insignificant conditions though, i dont remember the others off the top of my head.

and yeah plenty of bullish momentum at the moment, i think we should be good for another move up after a small retrace, NY will have a big say


Quoting rafiqhidayat
I've tried so many forex techniques, but I finally realized without proper risk management, non of the techniques can help you.

How I trade now is I still identify entry points (using S&D) but no SLs, but with TPs. As long as I obey my risk management rules, I will let the trade run until it hits it TP.

The results have been great, from only having a margin of 400% (lasting only 400 pips any direction), now I have a margin of 3000% (lasting 3000 pips in any direction)

Moral of the story : The most important part of forex trading is risk management.
nice.. im actually fairly open to the no-SL trading approach, except for the fear of some intervention (BOJ, SNB) that will wipe me out eventually
  • #35,732
  • Nov 16, 2011 3:18am Nov 16, 2011 3:18am
might be an opportune time to buy dips here, wouldnt be confident in saying the move is done yet
  • #35,733
  • Nov 16, 2011 3:24am Nov 16, 2011 3:24am
Quoting taxe91
might be an opportune time to buy dips here, wouldnt be confident in saying the move is done yet
Preaching to the choir..
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #35,734
  • Nov 16, 2011 4:24am Nov 16, 2011 4:24am
Let's see if 1.023 resistance holds

I'm in at 1.0180 but hmm... Us might rally later
Hope Europe bonds jump again
  • #35,735
  • Nov 16, 2011 4:38am Nov 16, 2011 4:38am
Hey guys,

Was out for the whole day.... Seems like i've missed good moves...

And what happened now is, out of my curiosity, i went long in GBPAUD @ 1.5532...

t/p : 1.5625

s/l : 1.5575

Anyone short AUD ??
  • #35,736
  • Nov 16, 2011 4:48am Nov 16, 2011 4:48am
Quoting ragnakore
i thought so too... maybe they conceded to the conditions.
or its another "buy the rumor" thing thats not substantiated later - in which case short play



im waiting for 1.0180 to sell. PA is very bullish
Great entry, me too, riding down to 9950
Come with me if you want to live....
  • #35,737
  • Nov 16, 2011 4:51am Nov 16, 2011 4:51am
Quoting ragnakore
Let's see if 1.023 resistance holds

I'm in at 1.0180 but hmm... Us might rally later
Hope Europe bonds jump again
I did thought this is dropping too fast.
I had tp for 50 pips and I'm out..

Waiting for retrace back to 1.015 to short anew
  • #35,738
  • Nov 16, 2011 5:20am Nov 16, 2011 5:20am
Quoting ragnakore
I did thought this is dropping too fast.
I had tp for 50 pips and I'm out..

Waiting for retrace back to 1.015 to short anew
looks like a big correction move to me, that upmove from 0060 to 0180 was too quick as well. more market noise than a market trend
  • #35,739
  • Nov 16, 2011 5:39am Nov 16, 2011 5:39am
Quoting taxe91
looks like a big correction move to me, that upmove from 0060 to 0180 was too quick as well. more market noise than a market trend

Hi taxe91, i agree. It has been a roller coaster ride today with both bulls and bear earning money but in the end it is the bear's territory. I have attached my chart and as you can see the pin bars are nicely rejected on certain levels for bears and bull to play. As I type this, the bears are in control. Anyway, my concerns are only the 8HR TF since I am at work typing this haha ...

Good luck to all and have a green week ahead
Attached Image (click to enlarge)
Click to Enlarge Name: AUD.jpeg Size: 232 KB
  • #35,740
  • Nov 16, 2011 5:51am Nov 16, 2011 5:51am
Quoting taxe91
looks like a big correction move to me, that upmove from 0060 to 0180 was too quick as well. more market noise than a market trend
Now I don't know where to reenter short....
Where are you shorting?

My instinct tells me 1.014

BTW. 1500GMT, Portugal will release troika report will be balistic if bad report

10 yr Italian bond is back above 7... Ecb can't keep buying indefinitely unless ecb prints money indefinitely too
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