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AUD/USD

  • #41,501
  • Mar 6, 2012 10:10pm Mar 6, 2012 10:10pm
Quoting rustyram
Dont worry happy trader , you will figure it out...

You are correct about the trend, just that you have to time your entry.
even that can be off, provided you put your SL at correct spot. you should have put your stop loss at 1.0580, atleast 10 pips above the last high.

Now price will go to your target, dont get frustated.
you got Trend, Entry , TP all correct, only Stop loss was wrong....so be happy....just like your name....
haha thanks, i got out @ BE just now, i think my entry at 1.0545 was a little too low for a sell. i don't know, i've this fear of frankfurt wiping out my profit.

will reload it if it goes higher than my previous entry.
  • #41,502
  • Mar 6, 2012 10:23pm Mar 6, 2012 10:23pm
looking to short from 0600, y'all think it'll get that high?
  • #41,503
  • Mar 6, 2012 10:37pm Mar 6, 2012 10:37pm
@happy trader and rustyram thanks brother i know it will touch target price and thanks for sharing your analysis,
@andri66 yes right said thats why i am trading with free money (welcome bonus) 100$ and now i have 500$ lol i am winner of many contest...
  • #41,504
  • Mar 6, 2012 10:54pm Mar 6, 2012 10:54pm
Been on a decline for a long time now. Has to be OVERSOLD...Bulls lets go!!!!!

100 Pips per day can keep the bosses away.
  • #41,505
  • Mar 6, 2012 11:36pm Mar 6, 2012 11:36pm
AUD/USD dives further to as low as 1.0552 so far today and the break of 1.0597 support indicates that a short term top is at least formed at 1.0852. Indeed, whole rise from 0.9663 and even that from 0.9387 might be completed too. Intraday bias remains on the downside for 1.0377 support. Break will indicate that another falling leg inside the consolidation pattern from 1.1079 has started and should target 0.9663 support and below.
very nice, good price..!
  • #41,506
  • Mar 6, 2012 11:39pm Mar 6, 2012 11:39pm
Sell at 1.0568
Take profit* at 1.0522
Stop loss at 1.0602
very nice, good price..!
  • #41,507
  • Mar 6, 2012 11:42pm Mar 6, 2012 11:42pm
Quoting Jose Louis
Sell at 1.0568
Take profit* at 1.0522
Stop loss at 1.0602
imo,i think we might even see this pair hitting 1.4000 later today
  • #41,508
  • Mar 6, 2012 11:44pm Mar 6, 2012 11:44pm
Quoting e585009
Any chance Institutional/Bank $$$ will go long here, knowing that retailers will likely go short, due to technical analysis charts? Just a thought ..
The retailers...small fry... hardly feel like a gnat on the back of a banker. We simply ride the coat tails of these big fish. The key is to ride in the wake of the big boys without getting too cocky or fidgity. No emotion is essential. Tossing trades out there and praying... is the quickest way to blow up an account. THIS IS NOT GAMBLING!!! Well, for the experienced. There is a methodical way about trading the FX. I am amazed at how many are actually gambling. Never ends well when one "gambles" in the FX.
It's the simple things in life that have the most powerful meaning.
  • #41,509
  • Edited 12:15am Mar 7, 2012 12:02am | Edited 12:15am
Quoting rustyram
My previous long got screwed .

I guess AUD is headed to either 1.0470 or even 1.0400
200 day MA for daily is at 1.0400.

1.0470 is .38% retracement of the daily wave 3 to form wave 4.

EUR has another 170 PIPS space to go down to test 1.2970 area.
AUD can go 160 pips down to 1.0400

So i am guessing more likely AUD will head to 1.0400

Where i would like to go long with target 1.1100
If the price reaches lower than 1.0370, i would change bias to downtrend.
As the price would enter wave 1 of daily, which is no no.

I am currently...
I closed my short and entered long, looks like we will head up atleast for the today, meaning few 4h bullish candles, also retrace the big wave 3, .38% comes at 1.0620. Also on a daily basis we just took out a past low at 1.0525, so we should see a pullback on the daily chart...

Putting everything in prespective, i am Long at 1.0545 target 1.0620
SL , move to BE once price takes out past high at 1.0575

Keep the SL at last low, until price takes out 1.0575 and then pull back to test 1.0530 low and then back up. then put the SL to BE
PPP - Patience Pays PIPS
  • #41,510
  • Mar 7, 2012 12:36am Mar 7, 2012 12:36am
Quoting happytrader
yea.. i've been sending out my CV since the start of last week. perhaps i'm too anxious and too impatient to recover my previous losses.

time to take things slow...

perhaps one day, in a year's time i will be profitable again...
Do read gold nuggets advices from Lever70's Trading Checklist.

Try to digest the info given. Hopefully it can gives some light bulb for you.

~profi~
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #41,511
  • Mar 7, 2012 12:37am Mar 7, 2012 12:37am
Quoting rustyram
I closed my short and entered long, looks like we will head up atleast for the today, meaning few 4h bullish candles, also retrace the big wave 3, .38% comes at 1.0620. Also on a daily basis we just took out a past low at 1.0525, so we should see a pullback on the daily chart...

Putting everything in prespective, i am Long at 1.0545 target 1.0620
SL , move to BE once price takes out past high at 1.0575

Keep the SL at last low, until price takes out 1.0575 and then pull back to test 1.0530 low and then back up. then put the SL to BE
210 posts only BUT Sound like good trader here
  • #41,512
  • Mar 7, 2012 12:39am Mar 7, 2012 12:39am
Quoting profi4554
Do read gold nuggets advices from Lever70's Trading Checklist.

Try to digest the info given. Hopefully it can gives some light bulb for you.

~profi~
thanks,i'm reading it now.
  • #41,513
  • Mar 7, 2012 12:43am Mar 7, 2012 12:43am
Quoting sachinkumar
@happy trader and rustyram thanks brother i know it will touch target price and thanks for sharing your analysis,
@andri66 yes right said thats why i am trading with free money (welcome bonus) 100$ and now i have 500$ lol i am winner of many contest...
Easier to win when there's no pressure..Congrats champ.. maybe soon your $500 turn into $ 50 K..then it's time to stop trade & use it for good..
Someone start to buy eu & au ..see if it can break 1.06
  • #41,514
  • Mar 7, 2012 12:47am Mar 7, 2012 12:47am
Quoting happytrader
out -10 pips, so far already -22 today. this weeks' total loss is 92 pips. i'm getting pro at making losses.
Hi
Sorry to know that, If I can tell my view
U need Patience and MM
I don't know what TF u use or MM so can't tell it's good or bad entry but
When u trade with the trend u r in safe hand believe me and in higher tf this entry very good

Also rustyram well said
  • #41,515
  • Mar 7, 2012 12:52am Mar 7, 2012 12:52am
yes right said in demo or in contest there is no pressure and no emotional attachment so we can do well,
here is little analysis
***************

Pair: AUDUSD
Type: Resistance Proximity Alert
S/R Level: 1.0573
Alert Price: 1.0563
buy if brake resistance level you can sell now with 20 pips stoploss
  • #41,516
  • Mar 7, 2012 12:56am Mar 7, 2012 12:56am
Quoting egkid
Hi
Sorry to know that, If I can tell my view
U need Patience and MM
I don't know what TF u use or MM so can't tell it's good or bad entry but
When u trade with the trend u r in safe hand believe me and in higher tf this entry very good

Also rustyram well said
thank you for your kind advice. i realised that i'm quite impatient at times esp after a series of losses.
  • #41,517
  • Mar 7, 2012 1:02am Mar 7, 2012 1:02am
Quoting egkid
210 posts only BUT Sound like good trader here
Thanks Kid, what is your current position.
PPP - Patience Pays PIPS
  • #41,518
  • Mar 7, 2012 1:14am Mar 7, 2012 1:14am
Quoting rustyram
Thanks Kid, what is your current position.
sell [email protected]
and if go higher will add
Actually selling above 1.0560 is safe in my view
  • #41,519
  • Mar 7, 2012 1:20am Mar 7, 2012 1:20am
Quoting egkid
sell [email protected]
and if go higher will add
Actually selling above 1.0560 is safe in my view
"Depends on my TF , MM"
  • #41,520
  • Mar 7, 2012 1:23am Mar 7, 2012 1:23am
Quoting egkid
sell [email protected]
and if go higher will add
Actually selling above 1.0560 is safe in my view
I am with you on the downtrend.
Price can go as high as 1.0640 area...

This is what i am thinking might happen, because this is a 4hour retracement
we should see a 60 min up A to 1.0620, down B to 1.0530 and up C to 1.0650

Once price gets to 1.0650 area, it should fall to 1.0470/1.0400

Currently the price is at 1.0550, it has to take out 1.0575 high , for all this to happen.....
PPP - Patience Pays PIPS
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