Another drop? Jeez!!! My long trade to 1.0804 has now become an investment. hahahaha. Well at least we are getting 9% positive swap, but I would prefer ching-ching of the cash register.
Why would you invest in an over valued currency?
- #41,022
- Feb 27, 2012 10:18am Feb 27, 2012 10:18am
Why would you invest in an over valued currency?
100 Pips per day can keep the bosses away.
- #41,029
- Feb 27, 2012 1:09pm Feb 27, 2012 1:09pm
I am tempted to sell, but this god damn flag thing is stopping me
ADD: Flag is not drawn exactly. I drew it in a hurry, just to show it
Many are watching this pair on the edge of their seats.
It's the simple things in life that have the most powerful meaning.
- #41,030
- Feb 27, 2012 1:12pm Feb 27, 2012 1:12pm
I am tempted to sell, but this god damn flag thing is stopping me
ADD: Flag is not drawn exactly. I drew it in a hurry, just to show it
100 Pips per day can keep the bosses away.
- #41,031
- Feb 27, 2012 1:40pm Feb 27, 2012 1:40pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
.... I anticipate this pair could retrace as much as 1.3800 in the short to medium term.
And I even think it could fall a little further to the 50% (1.2380/1.2400) although we have some support at 02-10's high (1.2420).
1.2900 is the 161.8% extension on the actual daily swing from the bottom and next resistance area lies about 1.2920/1.2950.
I would for safety vouch for a 138.2% extension (38.2% retracement on the down-move) to 1.2760/1.2790.
The break of today's high might occur around next week though, I think we can thus see more upside on the AUD/USD (while EUR/AUD retests the break) and possibly another attempt to break the 1.0840 level.
- #41,033
- Feb 27, 2012 4:29pm Feb 27, 2012 4:29pm
We are in daily pullback to form wave 4, which is also 4hour ABC formation, right now we are forming wave B, which should stall at 1.0775 - 1.0795
From here it should head down to atleast 1.0550 or even 1.0470 area.
This will complete the down move .
Then AUD is headed to 1.1200.
100 Pips per day can keep the bosses away.
- #41,034
- Feb 27, 2012 6:16pm Feb 27, 2012 6:16pm
So is the dive on now, or will we pass 1.0805 1st? Like during the Open of the European Session. Also, who does the pair freeze for the 1st 15 minutes of the open of the Australian trading session?
Then it should fall from there.....
15 min wave, says it will go to 1.0811
60 min says it should stall at 1.0785
240 min says it should stall at 1.0792
so it can go as high as 1.0785 - 1.0811, i will turn to 15 min charts to see any bearish candles and then take a short.
PPP - Patience Pays PIPS
- #41,039
- Feb 27, 2012 7:13pm Feb 27, 2012 7:13pm
thanks,
aussie is really pissing me off, euro has fallen quite a bit since tokyo open but aussie's so reluctant to fall.
many times i lose because i chose the wrong pair to trade, i know which way the market is heading then i look at euro and aud, i'll usually pick the one that hasn't fallen too much hence, smaller sl.
this doesn't work... i finally understand it... even though they're pair with USD, different currencies have different movements...
100 Pips per day can keep the bosses away.
- #41,040
- Feb 27, 2012 7:23pm Feb 27, 2012 7:23pm
Don't expect it to reach 1.08 today, but it will reach..
You are over leveraged.. You need to reduce your lot sizes to minis or get significantly more capital.
I am holding a long at 1.08 too. But I bought several more all the way down to 1.06, got my aggreagate below 1.07. Leverage no problem, I made money all the way back up to where it is now
Current lot size is .45, current balance is $8,200 USD .. account type is STANDARD .. is this too risky? ... Free margin is always high .. I'm in the USA, so leverage is 50:1.
I am holding a long at 1.08 too. But I bought several more all the way down to 1.06, got my aggreagate below 1.07. Leverage no problem, I made money all the way back up to where it is now