GBP/AUD - Daily Trading

newbie muppet going long @ 1.5993 *Edit - 1.5593



looking for a large RR



My line represents an optimistic outcome.

entered @ 1.5544

We are not psychic, long or short?



see this thread for some great price action analysis

http://www.forexfactory.com/showthread.php?t=332195

GBPAUD :

gbp/aud 4h - Short scalp w/be+1, maintain long.

Looking forward to touch 1.5580 and above.

anyone trading this pair still /.? seems todays data is killing aud,And gbp busting though all resistances slowly.

Looking to sell this pair and GBPNZD. I like GBPNZD a bit better for momentum down and heres what my chart looks like:

Hi guys,

I predict a sharp decline in this pair. Have a look at my analysis and let me know what you think with the positive swap, i believe a short position would be very rewarding

http://emppuedge.blogspot.com/2012/0...-expected.html

The R:R is defiantly there if you can find a low risk entry. Plan the trade, trade the plan.

Great analysis. Where are you looking at for your entry? Are you onboard already? Gotta love that positive swap too!

I just re-entered this pair. Shorted @1.59581

Updated on my analysis you can take a look

nice analysis, I've been shorting this pair as well

this latest retrace did test my nerves a little but now I see a nice H4 pinbar with stochs crossing over, on the H1 I see a head and shoulders forming.

there's still a gap from May 25-27 @ 1.60414, I'm not sure if the pinbar itself was an attempt to close the gap (17.5% closed) if not, there may be upward movement before dropping again

I'm monitoring carefully, but I think we're headed due south some more a break of 1.59150 would make me more confident, break of 1.5862 would strongly suggest more downtrend.

also keeping an eye on upcoming news announcement, hopefully something positive for the Kiwi and Aussie


haven't traded non USD pairs much, a little tricky figuring out how fundamentals play into the action. it feels a little uncomfortable holding onto a technically long AUD position when the fundamentals seem weak


is your superjet bavarian?



.

Targets

http://imgs.su/tmp/2012-05-31/1338419416-575.jpg

Interesting chart, I haven't heard of spectral systems before


The AUD news announcement was slightly positive, helped bring down this pair a little. It completed the head and shoulder and is now moving down again


http://i1264.photobucket.com/albums/...7/6e1fe1d7.jpg

Looks like we met resistance at the 23.6% level from the daily fibs

Still holding on to my shorts however, may close partial before today's AUD announcement depending on PA beforehand

the swap for this pair makes it nice to sit on shorts

was able to move SL past entry before RBA announcement, and the expected cut rate seems to have helped

next target is 1.55614 (38.2%)

More down suspected.

now order in good profit ...


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some profit fixation...

http://imgs.su/tmp/2012-06-07/1339026473-575.jpg



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Nice trading

Wish i were trading standard lots