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AUD/USD

  • #36,041
  • Nov 21, 2011 11:21pm Nov 21, 2011 11:21pm
Quoting Recluse
I'll join you in the quest down to 93.. after I close my long at 99.
Hi guys, the GU has the 200ema of every significant timeframe above it from the 15 min to the monthly. It retested the 4 hourly 200ema on Friday after crashing south through the daily 200ema. Yesterday it broke and closed convincingly south through the daily trendline see post 35984, giving lots of pips. This together with world events are going to have every investor and his lap dog rushing to the USD to make the most of this move and to safety after the Dow finished 300 points lower yesterday. This will hurt any and every currency paired aginst the USD including the high yielders. I just would not think of any significant longs right now regardless of minor support below us. Got to head out now and massage a client.
Come with me if you want to live....
  • #36,042
  • Nov 21, 2011 11:23pm Nov 21, 2011 11:23pm
On support
Attached Image (click to enlarge)
Click to Enlarge Name: mnbcx.gif Size: 18 KB
FF journal: Peaks and Troffs
  • #36,043
  • Nov 21, 2011 11:24pm Nov 21, 2011 11:24pm
Quoting Ill-b-back
I just would not think of any significant longs right now regardless of minor support below us. Got to head out now and massage a client.
I understand this. I have longed with B.E. SL so no worries. Want to get a higher price for the short.

Edit: B.E + 10 now
  • #36,044
  • Nov 21, 2011 11:30pm Nov 21, 2011 11:30pm
Quoting Recluse
I understand this. I have longed with B.E. SL so no worries. Want to get a higher price for the short.
Sorry, I should not have singled out your quote, it was a general message, not specifically to you. Sorry dude.
Come with me if you want to live....
  • #36,045
  • Nov 21, 2011 11:46pm Nov 21, 2011 11:46pm
If this hits 0.9880, I will revive my previous positions.

SL 0.9910 like it should have been!
  • #36,046
  • Nov 22, 2011 12:04am Nov 22, 2011 12:04am
look like the trend is change.... heading up?
  • #36,047
  • Nov 22, 2011 12:13am Nov 22, 2011 12:13am
Quoting chewwl88
look like the trend is change.... heading up?
Has been heading up in a channel on the 15m/30m chart for the past 14 hours now

http://img696.imageshack.us/img696/1056/upupupf.png
  • #36,048
  • Nov 22, 2011 12:25am Nov 22, 2011 12:25am
I take a long from this position with small SL about 0.9830
  • #36,049
  • Nov 22, 2011 12:26am Nov 22, 2011 12:26am
Long GU to 5710 then 5745, then shorting hard to continue down trend
Come with me if you want to live....
  • #36,050
  • Nov 22, 2011 12:34am Nov 22, 2011 12:34am
Quoting Ill-b-back
Shorted just now at 9833, target 93ish, no SL as I don't see the point. Will short again at NY open if we get a london rally.
Damn!

I should have thought of that!

BUT! when I dont have SL, damn price action would shoot fast and I end up with a wolf inside a hen house doing mucho damage to my account.
  • #36,051
  • Nov 22, 2011 12:47am Nov 22, 2011 12:47am
I will wait till UK session to decide the trade again...
  • #36,052
  • Nov 22, 2011 12:49am Nov 22, 2011 12:49am
Quoting ragnakore
Damn!

I should have thought of that!
It's not too late . In fact, better price right now.

I'll wait until Asian rally ends first though.
  • #36,053
  • Nov 22, 2011 1:05am Nov 22, 2011 1:05am
Quoting ragnakore
Damn!

I should have thought of that!

BUT! when I dont have SL, damn price action would shoot fast and I end up with a wolf inside a hen house doing mucho damage to my account.
Today got USD GDP report. will affect the trend?
  • #36,054
  • Nov 22, 2011 1:54am Nov 22, 2011 1:54am
Quoting chewwl88
Today got USD GDP report. will affect the trend?
US GDP might have an effect, however i am not sure of the magitude...

AUD follows EUR against USD (not every time though) .... Now EUR is reaching a falling wedge line where there could be a possible reversal and that may lead to AUD moving south again... So i've short AUD @ 0.9863....
  • #36,055
  • Nov 22, 2011 2:05am Nov 22, 2011 2:05am
Quoting chewwl88
Today got USD GDP report. will affect the trend?
Today's US GDP report is a "2nd release" and therefore, it will not provide any surprise to the market.
  • #36,056
  • Nov 22, 2011 2:06am Nov 22, 2011 2:06am
Quoting ragnakore
Damn!

I should have thought of that!

BUT! when I dont have SL, damn price action would shoot fast and I end up with a wolf inside a hen house doing mucho damage to my account.
I never use SL, they're just a way of forking over pips. The stop-loss IS the wolf with his mouth gaping wide open.

I'm short from 103.97 and .9977, holding out till low 90's.

The 103.97 position is an example of where a SL would have killed me. I interpreted a top as in place, or nearly in place on October 26, only to have the market go 350 pips against me for 1 day, then come back in my favour.
Channeling profits from the fractal universe.
  • #36,057
  • Nov 22, 2011 2:08am Nov 22, 2011 2:08am
Quoting ragnakore
Damn!

I should have thought of that!

BUT! when I dont have SL, damn price action would shoot fast and I end up with a wolf inside a hen house doing mucho damage to my account.
Yes I understand, it can get hairy, but with the GU determining overall direction of majors right now, I see only downside, also hedged my Aussie short with a GU long (see previous post) which seems to be going ok
Come with me if you want to live....
  • #36,058
  • Nov 22, 2011 2:10am Nov 22, 2011 2:10am
Quoting ragnakore
Damn!

I should have thought of that!

BUT! when I dont have SL, damn price action would shoot fast and I end up with a wolf inside a hen house doing mucho damage to my account.
Don't worry man, I am confident we will see mucho profits shorting NY or so
Come with me if you want to live....
  • #36,059
  • Nov 22, 2011 2:13am Nov 22, 2011 2:13am
Quoting Recluse
It's not too late . In fact, better price right now.

I'll wait until Asian rally ends first though.
Price action has formed a bullish trend channel. S&P, DJI and other indexes were suggestive of bullish correction and I withdrew my BULK pending orders (leaving behind only 1 lot sell 0.9890) waiting for the smoke to clear up.

It is Thanksgiving week and traditionally, it is bullish market regardless of market atmosphere (check 2008).

selling this pair isnt advisable atm.
wait wait wait.. unless I heard some ultra BAD news coming out of europe
  • #36,060
  • Nov 22, 2011 2:22am Nov 22, 2011 2:22am
Quoting Wavesurfer
I never use SL, they're just a way of forking over pips. The stop-loss IS the wolf with his mouth gaping wide open.

I'm short from 103.97 and .9977, holding out till low 90's.

The 103.97 position is an example of where a SL would have killed me. I interpreted a top as in place, or nearly in place on October 26, only to have the market go 350 pips against me for 1 day, then come back in my favour.
Following the 4 hour trend channel of your preferred pair and keeping an eye on the GU daily and weekly trendlines, I firmly agree with this practice. Selling rallies in a down trend until the GU reaches it's higher time frame trend channel. it does take some hairy balls and quite a bit of practice. Talking of such...
Come with me if you want to live....
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