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AUD/USD

  • #40,001
  • Feb 6, 2012 7:34pm Feb 6, 2012 7:34pm
Quoting fxgump88
Hi all, I am new here. My name is Terry and I have been trading fx for almost 5 years now.

Finally decided to become a member share ideas instead of being just a selfish reader.

Went through what most other traders went through, losing alot of money, changing systems and feeling very depressed before becoming profitable for the last 8 mths.

Now my trading system consist of good money management rules, formulated using a strategy which combines elliot waves, fibonacci and price action.

I hope I can share my trading idea regarding AUDUSD for...
Hope you are in for the ride up to the sky!
  • #40,002
  • Feb 6, 2012 7:35pm Feb 6, 2012 7:35pm
1.10 here we come? maybe?
  • #40,003
  • Feb 6, 2012 7:35pm Feb 6, 2012 7:35pm
suprise: no cut.

LONG AUD
  • #40,004
  • Feb 6, 2012 7:37pm Feb 6, 2012 7:37pm
Long from 1.07. Yee haa, Had a feeling they weren't going to drop it! woop wooop
Enter Signature
  • #40,005
  • Feb 6, 2012 7:38pm Feb 6, 2012 7:38pm
and also very nicely it is following the uptrend channel
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 372 KB
Trade what you see not what you hope
  • #40,006
  • Feb 6, 2012 7:41pm Feb 6, 2012 7:41pm
damn missed my buy entry zzz
  • #40,007
  • Feb 6, 2012 7:45pm Feb 6, 2012 7:45pm
Quoting mohan76
may be NAB confident there is no rate cut
well called
  • #40,008
  • Feb 6, 2012 7:55pm Feb 6, 2012 7:55pm
So whens the next level to buy again? 1.0755?
Enter Signature
  • #40,009
  • Feb 6, 2012 7:58pm Feb 6, 2012 7:58pm
Quoting diggo
Nice observation! I trade the rate announcement every month. It really depends how certain the rate cut is going to be, there's different results every month.

Today there is around a 75% chance of a 25 point cut, so there will be a drop if it does eventuate, just not a significant drop like November. On the flipside, if rates stay on hold, there will be a significant surge to the upside.

It is gambling. This is the only time of the month where I use a stop loss. Today I'm short, targeting mid-low 1.06's in 4-5 hours, and possibly more...
Thank god
  • #40,010
  • Feb 6, 2012 8:01pm Feb 6, 2012 8:01pm
jus got robbed looool..... fuck hate it wen its against me... bitch i thot it was head downnnnnnn jus to gt suprised i can talk now after blowin ma account 4500usd yes sir i went in full throtle aand was actually up 700usd but wanted more this is wat u gt account blown.... lol...
  • #40,011
  • Feb 6, 2012 8:01pm Feb 6, 2012 8:01pm
bbands are getting very very tight... the anticipation is pulpitating...

This will be very interesting..
A genius is born every minute, me I am lucky if my socks match.
  • #40,012
  • Feb 6, 2012 8:01pm Feb 6, 2012 8:01pm
The market is due for correction and the 1.0800 would be taken out. above all patience!!!!!!!!!!!!!!!!

Quoting ChipsnPips
Long from 1.07. Yee haa, Had a feeling they weren't going to drop it! woop wooop
  • #40,013
  • Feb 6, 2012 8:03pm Feb 6, 2012 8:03pm
Quoting ChipsnPips
So whens the next level to buy again? 1.0755?
That's exactly where I'm waiting to long, it's around 50% of the initial move, but will happily leave GBP/AUD run, just hit 100 pips.
Had a late entry on EUR/AUD which too dropped over 100 pips to a fresh historic low.
Attached Image (click to enlarge)
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Don't get mad, get even!
  • #40,014
  • Feb 6, 2012 8:03pm Feb 6, 2012 8:03pm
wait first, let 1.0800 resistance be broken and let it be retested, however wait first and be patient. Market would be very volatile this week from the UK and the euro zone. the best bet is to wait for aud/usd to dip and you enter from there.

Quoting ChipsnPips
So whens the next level to buy again? 1.0755?
  • #40,015
  • Feb 6, 2012 8:04pm Feb 6, 2012 8:04pm
Quoting CathS
well called
it was a joke not a call , i was @ 50 :50
Mohan
  • #40,016
  • Feb 6, 2012 8:04pm Feb 6, 2012 8:04pm
Quoting rasula
jus got robbed looool..... fuck hate it wen its against me... bitch i thot it was head downnnnnnn jus to gt suprised i can talk now after blowin ma account 4500usd yes sir i went in full throtle aand was actually up 700usd but wanted more this is wat u gt account blown.... lol...
did you analyse properly? technicals were pointing to a 1.0680 rebound and this was a key support for the past 2 weeks.. even with a rate cut, I would still have jumped in a long because of euraud
  • #40,017
  • Feb 6, 2012 8:06pm Feb 6, 2012 8:06pm
Well i'm pissed.

Was well into profit placed stop loss at 5 pips loss total....then it jumped my stoploss loosing 30 pips...whats the point of a stop loss if it doesnt work...I'm sure if it was a stop profit it wouldnt jump them.
  • #40,018
  • Feb 6, 2012 8:09pm Feb 6, 2012 8:09pm
Quoting rasula
jus got robbed looool..... fuck hate it wen its against me... bitch i thot it was head downnnnnnn jus to gt suprised i can talk now after blowin ma account 4500usd yes sir i went in full throtle aand was actually up 700usd but wanted more this is wat u gt account blown.... lol...
I feel your pain man. Expensive lesson learned there, but you will be better for it in the future.

For some it takes several blown accounts to really learn the lesson. I think I've blown 5-6 in the past, 1 of which was significant. But you get back up on the horse and keep going! I'm profitable these days with less risk. And like I said earlier, you always need to use a stop loss at this time of the month. Good luck!
  • #40,019
  • Feb 6, 2012 8:11pm Feb 6, 2012 8:11pm
Quoting mohan76
it was a joke not a call , i was @ 50 :50
I get that, me too, but I'm sure you were correct in your sarcastic NAB comment - I am just surprised the other banks didn't come out and say the same
  • #40,020
  • Feb 6, 2012 8:11pm Feb 6, 2012 8:11pm
Quoting Mobstriker
Well i'm pissed.

Was well into profit placed stop loss at 5 pips loss total....then it jumped my stoploss loosing 30 pips...whats the point of a stop loss if it doesnt work...I'm sure if it was a stop profit it wouldnt jump them.
Are you pissed or pissed off?

Either way, trading during major announcements with a stop loss can be riskier then without one.
Don't get mad, get even!
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