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AUD/USD

  • #39,541
  • Jan 26, 2012 5:49am Jan 26, 2012 5:49am
closed for 20 pips..

pend new longs at 1.065
  • #39,542
  • Jan 26, 2012 5:59am Jan 26, 2012 5:59am
Quoting Raziha
and all of u guys are zillionaire.....
If ur so successful, how come u spend ur time here?
I don't know about others but atleast i am not even a millionaire.... but yeh i want to be...
  • #39,543
  • Jan 26, 2012 6:14am Jan 26, 2012 6:14am
Quoting Forexgain
I don't know about others but atleast i am not even a millionaire.... but yeh i want to be...
Thats why we're all here, so help me tell the millionaires here to spare the genius talk and focus on reasons why to buy or sell...
  • #39,544
  • Jan 26, 2012 6:23am Jan 26, 2012 6:23am
http://cdn.fxstreet.com/images/retail1240.jpg
  • #39,545
  • Jan 26, 2012 7:12am Jan 26, 2012 7:12am
Quoting Alki
You are totaly out of subject.

No calculations, no timing, no trendlines, no channels, and maybe no patterns for you..etc. How do you trade then mister Forex experience? By gambling?

I am not predicting anything. I only try to know where big players would buy and sell. That's it. They are the market. Go learn about for example how works High Frequency Trading and its influence on Forex market and then come speak about how you, you trade without any calculation, if you see your self as much experienced trader.

I really laugh about traders...

I couldn't care less, always the same story with novice traders. Keep calculating and shorting and I'll see you at 1.1200
Don't get mad, get even!
  • #39,546
  • Jan 26, 2012 7:22am Jan 26, 2012 7:22am
Quoting taxe91
ive got a question for you intuitive traders, has a greek default already been priced into the forex market? if greek were to make their default official say, next week, would these pairs instantly flop or would the moves be relatively marginal?
What do you guys think ?

It's all over the news , but the market SEEMS to ignore it ?
Is this another irrational exuberance ? I mean AUD is a carry trade currency, so everyone knows that if things go wrong , they will start dumping AUD, but on the other hand the US has signal another round of money printing which should weaken the USD. This is another instance where the market is going to be volatile .
  • #39,547
  • Jan 26, 2012 7:27am Jan 26, 2012 7:27am
Quoting happytrader
hi, where do you think the price will retrace to?

i can't tell where the strong support line is...
sorry for the late reply happytrader I'm not on here very much. in cases like these, where risk is determining the direction, support and res lines are a gray area. I mean they are there like in my previous charts, but with risk-on they are all over the place. buying has been the only trade for some time and with yesterdays FED release I don't see it changing until further notice. hope this helps.
  • #39,548
  • Jan 26, 2012 7:46am Jan 26, 2012 7:46am
1.05 or 1.08?
I'm long USDJPY to capitalize on a move to 1.05~
Attached Image
  • #39,549
  • Jan 26, 2012 8:14am Jan 26, 2012 8:14am
Quoting Raziha
http://cdn.fxstreet.com/images/retail1240.jpg

Do you have the Gbp/Aud ratios? The price looks pretty much attempting to me.
Quoting yankeewh1te
1.05 or 1.08?
I'm long USDJPY to capitalize on a move to 1.05~
Y don't u set the pending long for Gbp/Aud @1.4675 instead? But who knows, I could be wrong..
  • #39,550
  • Jan 26, 2012 8:17am Jan 26, 2012 8:17am
Quoting sampoerna
Do you have the Gbp/Aud ratios? The price looks pretty much attempting to me.


Y don't u set the pending long for Gbp/Aud @1.4675 instead? But who knows, I could be wrong..

unfortunatelly no... sorry
  • #39,551
  • Jan 26, 2012 8:28am Jan 26, 2012 8:28am
Quoting sampoerna
Y don't u set the pending long for Gbp/Aud @1.4675 instead? But who knows, I could be wrong..
I agree with that trade, but I don't short risk currencies, I just switch; for example, I go long AUDUSD until I think she's at some apex, I dump, and I buy GBPCHF (BoE @ 0.5% SNB @ 0%) on the idea USDCHF regulates GBPCHF, wagering a synthetic long dollar position.

Base/Quote

AUDUSD
USDJPY

AUDUSD
USDCHF (cointegrated)
GBPCHF (cointegrated)

Hence the long USDJPY position; hope it helps — great trade though I think 100pips is in that to the 1.48 figure
  • #39,552
  • Jan 26, 2012 8:30am Jan 26, 2012 8:30am
hey folks,

i'd like your opinion on the matter. i went short at 1.0596, and am obviously in the red right now. i'm considering adding to the short right now, which is 1.0665-70. this would bring the avg down to about 1.0631 to break even. what do you think? good idea, or you think there's still some short-term boost to it? i'm aware that it's looking quite bullish long-term but it's certainly overbought in most short-term TFs. any non-condescending opinion will be appreciated. thanks
  • #39,553
  • Jan 26, 2012 8:38am Jan 26, 2012 8:38am
Quoting BergenGlobal
hey folks,

i'd like your opinion on the matter. i went short at 1.0596, and am obviously in the red right now. i'm considering adding to the short right now, which is 1.0665-70. this would bring the avg down to about 1.0631 to break even. what do you think? good idea, or you think there's still some short-term boost to it? i'm aware that it's looking quite bullish long-term but it's certainly overbought in most short-term TFs. any non-condescending opinion will be appreciated. thanks
Easier to put SL (on chart or imaginary) than averaging ..it's only 60 - 70 pips loss at the moment..no big deal if u use 1-2% of capital..especially if your account not swap free..but might be worthed to see next h1 candle since it might form bearish engulfing bar now..just my 2 cents
  • #39,554
  • Jan 26, 2012 9:15am Jan 26, 2012 9:15am
Quoting BergenGlobal
hey folks,

i'd like your opinion on the matter. i went short at 1.0596, and am obviously in the red right now. i'm considering adding to the short right now, which is 1.0665-70. this would bring the avg down to about 1.0631 to break even. what do you think? good idea, or you think there's still some short-term boost to it? i'm aware that it's looking quite bullish long-term but it's certainly overbought in most short-term TFs. any non-condescending opinion will be appreciated. thanks
Averaging down has helped me a lot, and even posted profits at times. But just make sure you're not over leveraging lest you invoke a margin call. You should be an analysis to determine getting a SL is better or averaging since you wouldn't wanna short at this level only to have to rise even higher
  • #39,555
  • Jan 26, 2012 9:30am Jan 26, 2012 9:30am
Quoting jayjb
Averaging down has helped me a lot, and even posted profits at times. But just make sure you're not over leveraging lest you invoke a margin call. You should be an analysis to determine getting a SL is better or averaging since you wouldn't wanna short at this level only to have to rise even higher
The trendline for aud is up , I suggest you look at gold. Gold is closely correlated to aud. What's happening now is that everyone is dumping USD. I only suggest a short at 1.09 level.
  • #39,556
  • Jan 26, 2012 9:32am Jan 26, 2012 9:32am
Quoting rnegoro
The trendline for aud is up , I suggest you look at gold. Gold is closely correlated to aud. What's happening now is that everyone is dumping USD. I only suggest a short at 1.09 level.
my charts are telling to short at 1.07 but being an uptrend channel, i will only buy on dips..

still waiting for 1.07 to close my longs
  • #39,557
  • Jan 26, 2012 9:45am Jan 26, 2012 9:45am
small correct or end of a bull run after the negative economic data from the US?
not sure to t/p or let my longs have more wiggle room
  • #39,558
  • Jan 26, 2012 9:53am Jan 26, 2012 9:53am
Quoting BergenGlobal
hey folks,

i'd like your opinion on the matter. i went short at 1.0596, and am obviously in the red right now. i'm considering adding to the short right now, which is 1.0665-70. this would bring the avg down to about 1.0631 to break even. what do you think? good idea, or you think there's still some short-term boost to it? i'm aware that it's looking quite bullish long-term but it's certainly overbought in most short-term TFs. any non-condescending opinion will be appreciated. thanks
I suggest taking your loss now, admit that you were wrong or luck simply wasn't on your side. Then close your trading software, make peace with what happened, refresh your mind, do some fun stuff. Then when your head is clear and good, set a positive expectation (like: I hope I'm going to get some profit in my next trade), smile, and you can trade again. Sounds good?

Losing is a part of professional forex trading. When you can deal with it in a positive way, to some extent, you may call yourself a pro and use it to build up your confidence. Remember, you only need to gain profit a little more than your loss to book a positive monthly performance.

Win and Loss are your friend, you want them to dance in a way that pleases you. Don't avoid or hate Loss, or he will set his revenge on you. If you welcome him, he will ask his friend Win to join him
The tone of your words reflects the quality and result of your trading ;-)
  • #39,559
  • Jan 26, 2012 10:19am Jan 26, 2012 10:19am
Quoting isaacyassar
Win and Loss are your friend, you want them to dance in a way that pleases you. Don't avoid or hate Loss, or he will set his revenge on you. If you welcome him, he will ask his friend Win to join him
I like this point of view.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #39,560
  • Jan 26, 2012 10:23am Jan 26, 2012 10:23am
i think it is only small correct to first or second fibo level and then again up. but don't expect exactly 1.07 level to take profit beter take it before
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