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AUD/USD

  • #39,741
  • Feb 1, 2012 11:04pm Feb 1, 2012 11:04pm
Quoting mrhb30jr
hi dyekid,

I just check the aud lite fx index the price near the resistance level and usd lite fx index also near the support level, i will hold to entry long till the end of this week candle close, if the close of this week price close above the previous weekly high than i will go to entry long ...

cheers
ahh nice charts.. i like your take
  • #39,742
  • Feb 1, 2012 11:11pm Feb 1, 2012 11:11pm
Quoting stulic
Wouldn't short AUD/USD above 1.0764 the 11/11 high, break of this level opens 1.1080 but a correction from below 1.0750 looks very likely, possibly targeting 1.0595.
Rejection of 1.0750 area strong as expected, we could see another try or first some profit taking and corrective retrace to 1.06 which should provide plenty of support, then maybe a second attempt higher and a break of 1.0770.
Attached Image (click to enlarge)
Click to Enlarge Name: au020212b.gif Size: 45 KB
Don't get mad, get even!
  • #39,743
  • Feb 2, 2012 6:10am Feb 2, 2012 6:10am
Why hello bears Ive been wondering where you were!
  • #39,744
  • Feb 2, 2012 6:27am Feb 2, 2012 6:27am
Quoting HotBiscuits
Why hello bears Ive been wondering where you were!
aussie pissed me off today. made me lost so much. damn it, the PA is so choppy and it just can't FALL like hell, why does it have to make a sharp retracement for every single 20 pips fall?

euro is trader friendly today.
  • #39,745
  • Feb 2, 2012 6:49am Feb 2, 2012 6:49am
Quoting happytrader
aussie pissed me off today. made me lost so much. damn it, the PA is so choppy and it just can't FALL like hell, why does it have to make a sharp retracement for every single 20 pips fall?

euro is trader friendly today.
Why have you had so many losses on AUD? Its basically just been hovering around 1.07 :s Its high is an extremely strong resistance level, combined with the ratecut coming early next week. Ive just taken a short and intend on leaving it for a couple days, if it forms a solid downtrend like it has the past two times, just set a wide trailing stop and dont open MT4 for a couple of weeks lol...
  • #39,746
  • Feb 2, 2012 6:55am Feb 2, 2012 6:55am
Quoting HotBiscuits
Why have you had so many losses on AUD? Its basically just been hovering around 1.07 :s Its high is an extremely strong resistance level, combined with the ratecut coming early next week. Ive just taken a short and intend on leaving it for a couple days, if it forms a solid downtrend like it has the past two times, just set a wide trailing stop and dont open MT4 for a couple of weeks lol...
i use tight sl cos i hate it when aud spike and it does it usually. and i went crazy with revenge trading after a few of my trades hit BE after moving around 30 pips in my favour.

sigh, the PA today is so so so unfriendly.
  • #39,747
  • Feb 2, 2012 7:02am Feb 2, 2012 7:02am
Quoting happytrader
i use tight sl cos i hate it when aud spike and it does it usually. and i went crazy with revenge trading after a few of my trades hit BE after moving around 30 pips in my favour.

sigh, the PA today is so so so unfriendly.
So what youre saying is that you... werent a..... "HappyTrader"


http://puu.sh/frcG
  • #39,748
  • Feb 2, 2012 7:05am Feb 2, 2012 7:05am
Quoting HotBiscuits
So what youre saying is that you... werent a..... "HappyTrader"


http://puu.sh/frcG
haha, it's hard to be happy when you're not pro = lose money...
  • #39,749
  • Feb 2, 2012 7:14am Feb 2, 2012 7:14am
Quoting happytrader
aussie pissed me off today. made me lost so much. damn it, the PA is so choppy and it just can't FALL like hell, why does it have to make a sharp retracement for every single 20 pips fall?

euro is trader friendly today.

When it is so choppy and PA is all over the place, it's best not to trade unless you trade pretty short term (scalping effectively).

With such a steep rise lately, AU is currently unstable (I don't mean it will fall but is prone to swings up & down for no logical reason).

There's no reason why AU must fall, in fact it is still overall bullish longer term.

There's no reason why it should fall back to parity, I think we'll see averages up around 1.20 this year, 1.30 for 2013 & 1.40 2014

AU is tied to Asian exports among others and there is a positive outlook for manufacturing/production consuming Aussie exports (iron, minerals, etc.)

I feel there has been a lot of manipulation lately across many currencies with price moving opposite to expectations on news, etc. I can see no other explanation as the next day/week, expectations/effects are back to normal again.

I'm mainly waiting for buys on AU lately, only a few odd shorts when I think I can get away with it.

Regards, Paul.
  • #39,750
  • Feb 2, 2012 7:24am Feb 2, 2012 7:24am
Quoting pah
When it is so choppy and PA is all over the place, it's best not to trade unless you trade pretty short term (scalping effectively).

With such a steep rise lately, AU is currently unstable (I don't mean it will fall but is prone to swings up & down for no logical reason).

There's no reason why AU must fall, in fact it is still overall bullish longer term.

There's no reason why it should fall back to parity, I think we'll see averages up around 1.20 this year, 1.30 for 2013 & 1.40 2014

AU is tied to Asian exports among others and there...
yea.. you're right. i shouldn't have traded in choppy market. i'm actually long AUD but i want to short it as i'm expecting a retracement to 1.060++ before breaking that 1.075 resistance.
  • #39,751
  • Feb 2, 2012 7:25am Feb 2, 2012 7:25am
Quoting happytrader
i use tight sl cos i hate it when aud spike and it does it usually. and i went crazy with revenge trading after a few of my trades hit BE after moving around 30 pips in my favour.

sigh, the PA today is so so so unfriendly.
Stick to your plan, don't make a vengeance trade and let your emotions out of trade. You have a very good positive point: You use a tight SL, and if you don't risk big, you will survive until market will go to your direction, if your calculation is correct. I am facing for the rare time such problem with Aussie and still short from 1.0735. I will not exit and take profit, because i am following my strategy. I know when i am wrong, i am protected, but if i am right, huge reward will come from first lots and pyramiding.

Take it cool, no need to be angry. This is the trading.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #39,752
  • Feb 2, 2012 7:37am Feb 2, 2012 7:37am
685 area of prior resistance holding for now. AUD has not fully broke prior resistance to retest lower support since mid December. Need a break here to begin thinking about a short term trend change and maybe challenging the trend lines soon...
  • #39,753
  • Feb 2, 2012 7:44am Feb 2, 2012 7:44am
Lower highs and lower lows at the moment visible this moment on the 5 min chart, could change very swiftly with this sudden bullrush however, just placed a small buy to hedge some of potential losses if it continues up, dont think it will at this stage though.

BRB need my other shot of hopium
  • #39,754
  • Feb 2, 2012 7:49am Feb 2, 2012 7:49am
Shouldn't good US data have brought it down instead of up? stupid news action...grrrr
  • #39,755
  • Feb 2, 2012 8:03am Feb 2, 2012 8:03am
Quoting ibotman
Shouldn't good US data have brought it down instead of up? stupid news action...grrrr
youre not ready to trade live
  • #39,756
  • Feb 2, 2012 8:26am Feb 2, 2012 8:26am
Quoting ibotman
Shouldn't good US data have brought it down instead of up? stupid news action...grrrr
Trading the news, Itl go against you 60% more often then it goes for you, regardless of which way you go
  • #39,757
  • Feb 2, 2012 9:37am Feb 2, 2012 9:37am
Quoting HotBiscuits
Trading the news, Itl go against you 60% more often then it goes for you, regardless of which way you go
Wasn't trading the news, but had a short, so hit my SL.
  • #39,758
  • Feb 2, 2012 9:47am Feb 2, 2012 9:47am
Quoting HotBiscuits
Trading the news, Itl go against you 60% more often then it goes for you, regardless of which way you go
lol nice
  • #39,759
  • Feb 2, 2012 9:51am Feb 2, 2012 9:51am
See u at 800+
Use me as a contrarian indicator
  • #39,760
  • Edited 10:26am Feb 2, 2012 9:56am | Edited 10:26am
Quoting mrbandwidth
See u at 800+
I wouldnt call it this early in, 075 is still holding. If this rally cant break it the light for 1.08xxx or upwards grows dimmer each passing moment (In the short term)

Did anyone else experience Go Markets disconnect then? That was infuriating!
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