AUD/USD

got closed all trade? it shoot UPPPPP

I think this is exactly the reason for the spike, and I agree it could be shortlived, am staying out until it settles down.
C.

5M upward channel broken, and a failed attempt to rally over the 1.007 previous highs..- start of the long leg down to the 80's?

http://www.bloomberg.com/news/2011-1...bal-banks.html

It cause pair has big jump

releasing the reserve requirements means that the banks in china can and will loan out more cash... this stimulates the chinese economy... probably in response to the slowdown in growth and to address rising inflationary pressure that the only political party is worried about. Hu Jingtao has publicly said that inflation is bad for the govt because people grow disgruntled.

BUT, growth means producing and exporting more 'Made in China' but the biggest buyers aint the domestic market. it's the foreign market aka us, japan, europe(ROW who have Free trade agreements with china)

if ROW has no cash... who would the chinese sell all these goods to?

Yeah made a small profit on top two positions.....

left the bottom one open....going to add to it later.

All it did was retest that trend line break...

now it has to retest the bottom

broke trend line...

shorted again

HOLLLLLLY COW!

SHORTING???? You wanna blow your account?
Its so festive, this will rally hard!

some mental stuff just happened,i bet millions of accounts were busted

up +300 on eu longs

locking with a sell now and closed upper for +92



stop screaming, every detail was said to go long.

HOLY MOLY! are we going to see 1.07 now!??!???!!

Closed half at +200 pips in audusd

1.04X.... Lets see!

I think those who are sitting at their computers for the next few hours are going to be able to bag a few decent wins here

We seem to be completing the inverse H&S pattern (as mentioned much2 earlier) on the daily chart. If this is true, those who are short better beware. Completion of the chart (the size of the head to the neckline is 1400 pips (neckline at 1.0750)).

This means there is a POSSIBILITY that it can breach 1.1 (all the way to 1.2).

This is just a possibility, but looking at fundamentals,

1. There is still the next summit (and the next one, and the next one, etc)
2. We are still waiting for EFSF to work

Only a default or the breakup of Euro IMHO can reverse this uptrend this time.

Good thing I stayed out of the market...

Fundamentals, Technicals, Emotions, Sentiments all dont add up.

European Fundamentals are all screwed. EFSF without money cant/wont solve the crisis. AUDUSD should drop to 0.90s

Technicals is up for debate. I am sure 1,000,000 traders will come up with their sets of charts showing AUDUSD will go to 1.200; And I am equally sure there are 1,000,000 traders showing a different chart claiming AUDUSD should be 0.8000 as well. Technical studies is very subjective.

Emotions and Sentiments is again subjective to whoever you ask.

And all dont add up to the same direction.

However, discounting Europe which I believe is a hopeless case, NFP could point huge positive due mainly to the "Turkey Effect + Black Friday Sales". It has been known that during these days, Retail Stores stock up with goods and hired LOTS AND LOTS of hands.. NFP should be big positive.

So, in my opinion, RISK ON! BUT market jumped the gun ahead of NFP!
DAMN! cant enter...

I would say, this is actually good news, if you believe in your calculations , you would play a waiting game till aud/usd reach a good resistance roughly 1.05- 1.07 then it will probably drop to parity again. Yet, there are so many factors that come into play, including Chinese easing, which is a boon to AUD.
The Euro crisis won't be solved easily even with central banks all over pumping liquidity. It's naive to think problems that were caused by a few years of overspending be solved by a magic wand. You can give the banks tonnes of liquidity, you can even give it to them at ultra low interest, but how would banks be willing to lend if there are auterity packages everywhere ?

But I don't think shorting aud at 1.05-1.07 is a bad idea, in fact that's what i am going to do or have been doing with SL 1.10 , no TP and i've been raking 500 over pips but i get charged for swaps.

Entered at .99333 the other day. Just closed with +337.
I had set my SL at BE lastnight. During the night it was almost taken out.

http://i168.photobucket.com/albums/u...0nov2011-1.gif