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AUD/USD

  • #38,221
  • Dec 29, 2011 7:54am Dec 29, 2011 7:54am
Quoting Gofer Pips
Captured this earlier this morning as I saw possible reverse H&S or double bottom. Set pending to support a double bottom, but my entry was 1.00450 and it missed price by spread.
I was careless not to compensate for bid/ask.

No prob, will be another set-up...............there always is!
if you back out to the 4H, there is a large double top. there may be small corrective upticks today but the bearish tone is likely to remain. (i can't chart at work to show what i mean, sorry)
Any prices quoted are futures
  • #38,222
  • Dec 29, 2011 8:35am Dec 29, 2011 8:35am
Quoting redteamgo
if you back out to the 4H, there is a large double top. there may be small corrective upticks today but the bearish tone is likely to remain. (i can't chart at work to show what i mean, sorry)
The double-top you reference I traded and have taken profits. SEE POST#16572 in Euranalysis thread.
Quoting Gofer Pips
Trades today
Shorts EURUSD and AUDUSD

OOPS EDIT: Latest entry on EURUSD was 1.3035 not 1.3133.
1.3133 was previous entry presently in profit from 12/21/11 spike.
Sorry about confusion



I traded it as TL was respected. IF it was even a double-top I definitely would not be entering short here!

I trade higher TF and enter on smaller.
Double bottom was within 2 pips of 4H candles and is more valid than YOUR double-top, but hey that's why it's called trading. If we get risk on today, the +25 pips at present could become profitable, but it would have been no loss at a BE if I had gotten entry.

Good luck in your trading
Attached Image (click to enlarge)
Click to Enlarge Name: 12-29-11DB.png Size: 74 KB
  • #38,223
  • Dec 29, 2011 8:51am Dec 29, 2011 8:51am
Quoting Gofer Pips
The double-top you reference I traded and have taken profits. SEE POST#16572 in Euranalysis thread. I traded it as TL was respected. IF it was even a double-top I definitely would not be entering short here!

I trade higher TF and enter on smaller.
Double bottom was within 2 pips of 4H candles and is more valid than YOUR double-top, but hey that's why it's called trading. If we get risk on today, the +25 pips at present could become profitable, but it would have been no loss at a BE if I had gotten entry.

Good luck...
if your intention is not what it sounds like, disregard the following:

spare me the petty sarcasm and attempts at invalidation, i am simply presenting my view. your attitude is pitiful. GOOD LUCK IN YOUR TRADING FRIEND
Any prices quoted are futures
  • #38,224
  • Dec 29, 2011 9:00am Dec 29, 2011 9:00am
Quoting redteamgo
if your intention is not what it sounds like, disregard the following:

spare me the petty sarcasm and attempts at invalidation, i am simply presenting my view. your attitude is pitiful. GOOD LUCK IN YOUR TRADING FRIEND
Chill bro'
I wasn't trying to be sarcastic. I was trying to let you know I saw the top but already traded it down, and was trying to get it on a swing back up.
I usually go in on small TF and lock BE and try to get runs with small lots and scalp large lots. That's all.
I apologize if I offended you as that was not my intention. It's like texting.........there can be misunderstandings. So please forgive me.

My attitude is great, and I will not take offense to your misunderstanding my post!
  • #38,225
  • Dec 29, 2011 9:28am Dec 29, 2011 9:28am
Quoting Gofer Pips
Chill bro'
I wasn't trying to be sarcastic. I was trying to let you know I saw the top but already traded it down, and was trying to get it on a swing back up.
I usually go in on small TF and lock BE and try to get runs with small lots and scalp large lots. That's all.
I apologize if I offended you as that was not my intention. It's like texting.........there can be misunderstandings. So please forgive me.

My attitude is great, and I will not take offense to your misunderstanding my post!
sorry, i apologize. i also traded the downside but am holding for parity or below despite the demand zone we are clearly in. sincere good luck to you!

and edit: it looks like you made a great call there to go long. maybe ill get out/in next time
Any prices quoted are futures
  • #38,226
  • Dec 29, 2011 9:52am Dec 29, 2011 9:52am
Gold is falling really nice, and I think here will happen the same thing! I like longer term positions and I am building a biiig short position slowly
go go go
  • #38,227
  • Dec 29, 2011 11:04am Dec 29, 2011 11:04am
whats happening?? why AU suddenly going north?? any clue??
  • #38,228
  • Dec 29, 2011 11:32am Dec 29, 2011 11:32am
Quoting nsrajesh
whats happening?? why AU suddenly going north?? any clue??
From a fundamental standpoint? Technical?
  • #38,229
  • Dec 29, 2011 11:36am Dec 29, 2011 11:36am
Quoting Gofer Pips
From a fundamental standpoint? Technical?
both??
  • #38,230
  • Dec 29, 2011 11:51am Dec 29, 2011 11:51am
Quoting nsrajesh
both??
well from where i understand it:
Recent US data was good , soo that has eased a concerned on US recovery, so investors basically leaving the save haven asset in this case USD/Stock (cashing out) and opted for more risky asset and that might be one of the reason why The pair is strengthening right now.

Just my 2 cent
  • #38,231
  • Dec 29, 2011 11:53am Dec 29, 2011 11:53am
Quoting nsrajesh
both??
Risk came back into the market as indicated by the move higher in the stock market. The biggest risers would be the ones with the biggest interest rates differential

Olu
If you think you can or cannot do it you are correct
  • #38,232
  • Dec 29, 2011 12:19pm Dec 29, 2011 12:19pm
Fundamentally risk on so dollars flow out of treasuries and into market as higher yields are sought than what USD offers as safe haven.

Technically, see previous post regarding trading double bottom.
Quoting Gofer Pips
Captured this earlier this morning as I saw possible reverse H&S or double bottom. Set pending to support a double bottom, but my entry was 1.00450 and it missed price by spread.
I was careless not to compensate for bid/ask.

No prob, will be another set-up...............there always is!
Pair is trading in a wedge.

My 2 cents.
Attached Image (click to enlarge)
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  • #38,233
  • Dec 29, 2011 1:36pm Dec 29, 2011 1:36pm
Reversal Zone Analyse

Analyse buy if PA touch the area between 1.01050 - 1.00960
  • #38,234
  • Dec 29, 2011 3:04pm Dec 29, 2011 3:04pm
Quoting rustyram
While Eur/Usd made a new low, AUD held on to its previous low.
Entered at 1.0055 , target hopefully 1.05, depends on how fast it moves from here and takes out 1.02 high.

Will wait for some time and move the SL to entry point, so that i dont get burned when it moves south.
AUD is poised to take out the previous high 1.0205, and then form 15 min - wave 1, looks like it should get to 1.04/1.05 area pretty quickly.

I would not be surprised to see if AUD closes above 1.02 before the year end, DOW and Gold everything is going to finish positive for year 2011, why not AUD.
PPP - Patience Pays PIPS
  • #38,235
  • Dec 29, 2011 3:07pm Dec 29, 2011 3:07pm
Arggh..

There are reasons why one should never trade when they just woke up...

Wanted to buy 0.01 lot, ended buying 1 lot... and had to close it because was way out of my risk mgmt capabilities.

Lost the last 1 1/2 weeks of profit.... grrrrr...
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #38,236
  • Dec 29, 2011 3:12pm Dec 29, 2011 3:12pm
Quoting rustyram
AUD is poised to take out the previous high 1.0205, and then form 15 min - wave 1, looks like it should get to 1.04/1.05 area pretty quickly.

I would not be surprised to see if AUD closes above 1.02 before the year end, DOW and Gold everything is going to finish positive for year 2011, why not AUD.
Euro isn't finishing positive......neither is GBP they have to close about 200 pips higher each, why not AUD? lol. I think people have placed too much stock on Australia as a Chinese proxy.
  • #38,237
  • Dec 29, 2011 3:21pm Dec 29, 2011 3:21pm
Quoting lolygagv2
Euro isn't finishing positive......neither is GBP they have to close about 200 pips higher each, why not AUD? lol. I think people have placed too much stock on Australia as a Chinese proxy.
EURO last year high was around 1.49, and currently it way off from that and it is close to its year lows, rightfully so, with so many problems in EURO zone, one can no way expect positive year for EURO.

GOLD and AUD is closely related, like oil and CAD, so if gold is finishing positive for the year, so should AUD. it began the year opening around 1.025, with the recent uptrend being fast, i am assuming we should close in 1.02 - 1.04 area tomorrow.
PPP - Patience Pays PIPS
  • #38,238
  • Dec 29, 2011 3:33pm Dec 29, 2011 3:33pm
Quoting rustyram
GOLD and AUD is closely related, like oil and CAD, so if gold is finishing positive for the year, so should AUD. it began the year opening around 1.025, with the recent uptrend being fast, i am assuming we should close in 1.02 - 1.04 area tomorrow.
this seems strange given that gold and AUD, categorically, have an inverse relationship in terms of risk (as it stands right now). mining is a fraction of AUDs GDP <10%. a run up to 104 is definitely possible. further contraction in china (likely) will definitely hurt the AUD
Any prices quoted are futures
  • #38,239
  • Edited 5:24pm Dec 29, 2011 5:21pm | Edited 5:24pm
Let it. Lock and Load and lace yer boot straps on tight. It's going to slide.

tic toc tic toc

The 61.8% Fib Retrace has been kissed.
It's the simple things in life that have the most powerful meaning.
  • #38,240
  • Dec 29, 2011 6:52pm Dec 29, 2011 6:52pm
Quoting lebleup
Let it. Lock and Load and lace yer boot straps on tight. It's going to slide.

tic toc tic toc

The 61.8% Fib Retrace has been kissed.
goodbye 61.8%.

im about to get stopped out
Any prices quoted are futures
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