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AUD/USD

  • #40,341
  • Feb 13, 2012 12:38am Feb 13, 2012 12:38am
Quoting gautam0597
I took this sell trade after the trendline break(as per chart) on D1 chart. I thought AUDUSD was nearing the verge of a correction after an exhausted extension. Do u think I should get out of this trade now, since I see the Sunday and today's candle bullish so far.
well I saw that it was Friday and could have led to a big selloff today but hasn't happened as Greece was positive. I personally don't feel its here yet (selloff).

Also you know you're on the wrong side when support is formed near your entry. If that's true, its probably time to get out. If support hasn't formed yet then you can wait.
  • #40,342
  • Feb 13, 2012 12:44am Feb 13, 2012 12:44am
Quoting FX Tsunami
May be you are right with the sell after trend line break. But you should have waited for a pull back after the break. So, now may be a good short entry. However, AUD is damn bullish so far and since they are maintaining 4.25%, i guess this pair might go up further. Given the trend line is broken i have opened a small short now @ 740. If the move towards south is confirmed, i will add some more shorts.
I think you're right on the money! I hurried onto the trade befire waiting for the retest of support(turned resistance).. Thanks for your valuable input.
PRICE ACTION is the only real time indicator.
  • #40,343
  • Feb 13, 2012 12:47am Feb 13, 2012 12:47am
Quoting sidhujag
well I saw that it was Friday and could have led to a big selloff today but hasn't happened as Greece was positive. I personally don't feel its here yet (selloff).

Also you know you're on the wrong side when support is formed near your entry. If that's true, its probably time to get out. If support hasn't formed yet then you can wait.
Agree..quite a bearish candle last friday at daily but so far there's no follow up from the bear..so the downtrend might not started yet..
  • #40,344
  • Feb 13, 2012 12:47am Feb 13, 2012 12:47am
Quoting sidhujag
well I saw that it was Friday and could have led to a big selloff today but hasn't happened as Greece was positive. I personally don't feel its here yet (selloff).

Also you know you're on the wrong side when support is formed near your entry. If that's true, its probably time to get out. If support hasn't formed yet then you can wait.
Okay, clearly noted. will await some confirmation of support. Cant be sure if price has formed a support at the point of my entry yet. Thanks again.
PRICE ACTION is the only real time indicator.
  • #40,345
  • Feb 13, 2012 12:48am Feb 13, 2012 12:48am
Quoting andri66
Agree..quite a bearish candle last friday at daily but so far there's no follow up from the bear..so the downtrend might not started yet..
I agree.
PRICE ACTION is the only real time indicator.
  • #40,346
  • Feb 13, 2012 12:56am Feb 13, 2012 12:56am
Well, if you put the macros aside for a minute and see the charts, I see the bullish momentum waning on the 1H chart at the retest of the trendline(drawn on daily).. Just FYI..not trying to say its going south yet.
PRICE ACTION is the only real time indicator.
  • #40,347
  • Feb 13, 2012 1:01am Feb 13, 2012 1:01am
0750 resistance hold through maybe it will start going south soon
Trade what you see not what you hope
  • #40,348
  • Feb 13, 2012 1:06am Feb 13, 2012 1:06am
Quoting gautam0597
I think you're right on the money! I hurried onto the trade befire waiting for the retest of support(turned resistance).. Thanks for your valuable input.
It is all about learning buddy!!!!

The more we share, the more we learn.
I see you are from India. So am i !!!
  • #40,349
  • Feb 13, 2012 1:12am Feb 13, 2012 1:12am
Quoting FX Tsunami
It is all about learning buddy!!!!

The more we share, the more we learn.
I see you are from India. So am i !!!
True. Its been 5 years since I first embarked on this steep learning curve(read: make mistakes and learn from them) and I am still learning.
I will share a lot of charts here. Added you!
PRICE ACTION is the only real time indicator.
  • #40,350
  • Feb 13, 2012 1:18am Feb 13, 2012 1:18am
Quoting gautam0597
True. Its been 5 years since I first embarked on this steep learning curve(read: make mistakes and learn from them) and I am still learning.
I will share a lot of charts here. Added you!
Yeah sure!!!!!

I have just started my curve It has been only 6 months i'm into trading.

As i type i could see AUD going up and nearing my S/L
  • #40,351
  • Feb 13, 2012 1:22am Feb 13, 2012 1:22am
Quoting FX Tsunami
Yeah sure!!!!!

I have just started my curve It has been only 6 months i'm into trading.

As i type i could see AUD going up and nearing my S/L
Lol..Yeah, same here. My S/L is at 756. Lets see if that gets taken.
PRICE ACTION is the only real time indicator.
  • #40,352
  • Feb 13, 2012 1:25am Feb 13, 2012 1:25am
Quoting gautam0597
Lol..Yeah, same here. My S/L is at 756. Lets see if that gets taken.
Let us wait and see together
  • #40,353
  • Feb 13, 2012 2:16am Feb 13, 2012 2:16am
Market staring @ my S/L
  • #40,354
  • Feb 13, 2012 2:30am Feb 13, 2012 2:30am
sorry to hear that, but we finally broke 1.0750 clearly maybe a good time to long?
just added a thought
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 349 KB
Trade what you see not what you hope
  • #40,355
  • Feb 13, 2012 2:53am Feb 13, 2012 2:53am
Quoting STIprdr
sorry to hear that, but we finally broke 1.0750 clearly maybe a good time to long?
just added a thought
Long AUD is always good. I can clearly see that this pair is going to close the current 4H candle above 750. If it closes, wait for the retest of 750 to take long. 780 may be a small resistance. However, given the strength of AUD, it should be broken. This is just my opinion. Market is always correct and it will answer our questions sooner or later.
  • #40,356
  • Feb 13, 2012 3:03am Feb 13, 2012 3:03am
1H and 4H
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h4.jpg Size: 106 KB
Click to Enlarge Name: h1.jpg Size: 107 KB
  • #40,357
  • Feb 13, 2012 5:28am Feb 13, 2012 5:28am
Quoting mrbandwidth
My guess:

1. up to 700+
2. down to 500 (or more possibly 580)
3. up to 800+
4. down to HELL

Hmmm, I smell a flat, currently finishing possible wave-a (up)... New guess:

1. now down to 690-700 (wave-b)
2. there up to 800+ (wave-c)
3. down back to 600-630 (end of wave-4)
4. 900+ (wave-5)
5. down to HELL
Use me as a contrarian indicator
  • #40,358
  • Feb 13, 2012 5:30am Feb 13, 2012 5:30am
Quoting mrbandwidth;
Hmmm, I smell a flat... New guess:

1. now down to 690-700
2. there to 800+
3. down back to 600-630
4. 900+
5. down to HELL
number 5
  • #40,359
  • Feb 13, 2012 5:35am Feb 13, 2012 5:35am
Quoting mrbandwidth
Hmmm, I smell a flat, finishing wave-a (up)... New guess:

1. now down to 690-700 (wave-b)
2. there up to 800+ (wave-c)
3. down back to 600-630 (wave-4)
4. 900+ (wave-5)
5. down to HELL
Fair bit of guessing there don't you think?

Might just be easier to flip a coin, it's got two sides instead of five, head=up, tails=down. (navia aut caput)
Don't get mad, get even!
  • #40,360
  • Feb 13, 2012 5:46am Feb 13, 2012 5:46am
Quoting stulic
Fair bit of guessing there don't you think?

Might just be easier to flip a coin, it's got two sides instead of five, head=up, tails=down. (navia aut caput)
Hehe, thanks, I know but this way is more fun...
Use me as a contrarian indicator
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