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AUD/USD

  • #38,641
  • Jan 10, 2012 3:29pm Jan 10, 2012 3:29pm
i am looking to sell into peaked supply around 0380 with maybe a 25 tick stop.
Any prices quoted are futures
  • #38,642
  • Jan 10, 2012 3:36pm Jan 10, 2012 3:36pm
looking for retest here to short
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  • #38,643
  • Jan 10, 2012 3:36pm Jan 10, 2012 3:36pm
Quoting redteamgo
i am looking to sell into peaked supply around 0380 with maybe a 25 tick stop.
will you confirm the double top, before you enter? or are you just going to pull the trigger? (just curious, I am still in long from yesterday)
  • #38,644
  • Jan 10, 2012 3:43pm Jan 10, 2012 3:43pm
consolidation with possible bull to 1.04 dependent on stocks.

on short covering can easily blow past 1.04 (on an exaggeration) so be careful guys, keep short stops but if stopped be prepared to reenter.
  • #38,645
  • Jan 10, 2012 3:43pm Jan 10, 2012 3:43pm
Quoting Riskit
will you confirm the double top, before you enter? or are you just going to pull the trigger? (just curious, I am still in long from yesterday)
a double top would be a nice, additional piece of confidence but I will not wait for confirmation. i am looking for an aggressive sell
Any prices quoted are futures
  • #38,646
  • Jan 10, 2012 3:56pm Jan 10, 2012 3:56pm
couldnt resist.. long @ 1.0296.. might end up scratching at be+1

edit: the euro is pooping the bed right now.. might close
Any prices quoted are futures
  • #38,647
  • Jan 10, 2012 3:59pm Jan 10, 2012 3:59pm
might have a correction today. longing risky. shorting risky too because short cover
  • #38,648
  • Jan 10, 2012 4:01pm Jan 10, 2012 4:01pm
Quoting Halba
might have a correction today. longing risky. shorting risky too because short cover
agreed. only targeting 8-15 ticks
Any prices quoted are futures
  • #38,649
  • Jan 10, 2012 4:03pm Jan 10, 2012 4:03pm
aud index losing momentum upwards.. we may finally see a drop in the aussie dollar. USD gaining strength as well
  • #38,650
  • Edited 4:50pm Jan 10, 2012 4:07pm | Edited 4:50pm
Quoting redteamgo
agreed. only targeting 8-15 ticks
scratched for small loss. still looking to buy possibly in 0270 range

edit.. too hasty. looks like a bottom is forming

edit2: my scalping needs work lol
Any prices quoted are futures
  • #38,651
  • Jan 10, 2012 4:17pm Jan 10, 2012 4:17pm
I'm waiting for resistance off the 60min 50ema. What do you guys think.
  • #38,652
  • Jan 10, 2012 4:43pm Jan 10, 2012 4:43pm
Quoting redteamgo
scratched for small loss. still looking to buy possibly in 0270 range

edit.. too hasty. looks like a bottom is forming
hi, i'm looking to buy at 2800 but i'm not sure if i should just buy straight at that price or wait for a green bar to form at the support first.

what do u normally do ?
  • #38,653
  • Jan 10, 2012 4:48pm Jan 10, 2012 4:48pm
Quoting happytrader
...what do u normally do ?...
"what do you normally do" is not an exact science ranging from as accurate as 0 pip to as huge as 200 pips.

When to buy/sell is basically gut feeling+observation+experience. If it is exact science, then everyone can do it exactly.

Now that we are testing some supports, 1.0280, we could see a bounce up.
Another support is around 1.0250
  • #38,654
  • Jan 10, 2012 4:53pm Jan 10, 2012 4:53pm
Quoting happytrader
hi, i'm looking to buy at 2800 but i'm not sure if i should just buy straight at that price or wait for a green bar to form at the support first.

what do u normally do ?
i assume you mean 0280

honestly, im not doing anything right now. it looks like price has scope to hit 0250/60 during asia today. im sidelined again. i have found this pair difficult to trade lately. i was originally looking for a top closer to 0380 to sell.. but it undershot my sell targets... so i'm just waiting and trying to scalp when i feel its appropriate (which has been pretty so-so. more or less break even).

if i had to give advice, i would wait for aud/usd to confirm a bottom then short the eur/aud. a short at 2420 or above would be a solid. dont be afraid to take a little heat though


ragnakore summed it up nicely as well
Any prices quoted are futures
  • #38,655
  • Jan 10, 2012 4:58pm Jan 10, 2012 4:58pm
Quoting ragnakore
"what do you normally do" is not an exact science
That said you would not want to be entering without some form of back test to your entry.

I will be trading daily bars, actually looking for breakout of yesterday's high on AUDCAD......

need bulls for AUD to get things moving.
  • #38,656
  • Jan 10, 2012 5:00pm Jan 10, 2012 5:00pm
Like red, I am sideline since yesterday. Monday was a killer got screwed..

I too have a sell order parked at 1.0380 - its a strong resistance since late Nov. tested it twice this year as well. And this time I wanna short it at that price with Stop at 1.0410.

While we are below 1.0300, and market is very energetic, hopeful, I am buying but waiting for a price I still dont know where! Tentatively, I'd trade small lots till I get it right. SPX is looking heavy all those talks of slowing China is weighting heavily on AUD. But I cant shake the news of China buying huge copper last december - should be bullish for economy.. or maybe they just took advantage of low prices?
  • #38,657
  • Jan 10, 2012 5:18pm Jan 10, 2012 5:18pm
usd gaining strength again. AU is gonna drop.. were bouncing off a level 2 monthly resistance.
  • #38,658
  • Jan 10, 2012 5:22pm Jan 10, 2012 5:22pm
Quoting Dyekid217
usd gaining strength again. AU is gonna drop.. were bouncing off a level 2 monthly resistance.
yes. i cant emphasize this enough.. note that eur/aud is flat despite a weakening aud/usd. as bollingers tighten up before london, this could be a very nice entry point before the next euro downleg. there are some crosses out there that have had tremendous performance
Any prices quoted are futures
  • #38,659
  • Jan 10, 2012 5:24pm Jan 10, 2012 5:24pm
i agree.. I would enter in on some euro pairs but I'm afraid my overall positions are big enough for my account size. Can't afford more risk at the moment even though 5/8 pairs are big winners in my basket
  • #38,660
  • Jan 10, 2012 5:25pm Jan 10, 2012 5:25pm
Quoting ragnakore
SPX is looking heavy all those talks of slowing China is weighting heavily on AUD. But I cant...
the thing i dont get about the materials/aud correlation is that mining etc is only 10% of their economy. they are a service based economy.
Any prices quoted are futures
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