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AUD/USD

  • #41,521
  • Mar 7, 2012 1:28am Mar 7, 2012 1:28am
Quoting rustyram
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.....
1.0630 Here
We do our best But @end market do whatever it LIKE
  • #41,522
  • Mar 7, 2012 1:44am Mar 7, 2012 1:44am
I think that there is a well formed diamond at the bottom of the trend... Shouldn't we buy instead?
  • #41,523
  • Edited 2:10am Mar 7, 2012 1:52am | Edited 2:10am
Quoting repsis
I think that there is a well formed diamond at the bottom of the trend... Shouldn't we buy instead?
Depends on what type of trader you are
Scalping , Counter trend , trend trader ,...
  • #41,524
  • Mar 7, 2012 1:55am Mar 7, 2012 1:55am
I am new here, and I was told that diamonds are pretty rare and have a huge profit, if you can see one...
What can you tell me about the current situation, and if I should buy in a long term atm?
  • #41,525
  • Mar 7, 2012 2:50am Mar 7, 2012 2:50am
Start goin' down from 0580 ..let's see if 0500 will hold till NY open ( Good ADP might boost this to 1.06 ? )..
  • #41,526
  • Mar 7, 2012 7:13am Mar 7, 2012 7:13am
Let us see.....
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  • #41,527
  • Mar 7, 2012 8:09am Mar 7, 2012 8:09am
I should sell, I presume ?

Quoting Daytrader74
Let us see.....
Patience is magic
  • #41,528
  • Mar 7, 2012 9:21am Mar 7, 2012 9:21am
still going down heading the support zone (target)
hope by tomolo b4 nfp
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  • #41,529
  • Mar 7, 2012 9:27am Mar 7, 2012 9:27am
Commodity prices are still going down, so thats an indication that the Aussie Dollar is also going down isnt it?
  • #41,530
  • Mar 7, 2012 10:11am Mar 7, 2012 10:11am
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
Finally we saw movement towards upside....
My target for upside is 1.0620.

I would like to short AUD at 1.0620 with target of 1.0550/1.0530 then close my shorts...I am expecting price should reach 1.0550 again by AUD employment data comes out, they are expecting only 5K comeon, the data is going to print more than that, then we should see a upside of 100 Pips atleast to 1.0640 to complete 60 Min ABC retracement.

So anticipating a surprise good data, i would enter long at 1.0540 area target 1.0640. Then take a short at 1.0640 target 1.0400, which is also 200 day SMA.

Some of this is Risky... but if it works out, i could milk this cow for every pip.

PPP - Patience Pays PIPS
  • #41,531
  • Mar 7, 2012 11:49am Mar 7, 2012 11:49am
Quoting FX-Petra
Just got long 1 lot @ 0575. Will take another @ 0550 and again @ 0525 if given the chance.

Regards.
3 lots in @ 0575, 0550, and 0525. Looks like the Daily Trendline might hold. TP1 @ 0740. TP2 @ 0850, TP3 @ 1.1000.

Regards,
  • #41,532
  • Mar 7, 2012 12:44pm Mar 7, 2012 12:44pm
Quoting FX-Petra
3 lots in @ 0575, 0550, and 0525. Looks like the Daily Trendline might hold. TP1 @ 0740. TP2 @ 0850, TP3 @ 1.1000.

Regards,

Need DXY to drop and for the bears to go back into hibernation!!
100 Pips per day can keep the bosses away.
  • #41,533
  • Mar 7, 2012 5:08pm Mar 7, 2012 5:08pm
AUD/USD @ 1.0583

Unemployment out today.
If its a good number somebody is lying.
So many lay offs across many sectors except resources.

Look for opportunities to sell into any upward spike as I dont think we have finished this downside run.

happy punting
  • #41,534
  • Mar 7, 2012 5:16pm Mar 7, 2012 5:16pm
Quoting lasty
AUD/USD @ 1.0583

Unemployment out today.
If its a good number somebody is lying.
So many lay offs across many sectors except resources.

Look for opportunities to sell into any upward spike as I dont think we have finished this downside run.

happy punting
Damn!!!!
100 Pips per day can keep the bosses away.
  • #41,535
  • Mar 7, 2012 5:40pm Mar 7, 2012 5:40pm
Quoting rustyram
Finally we saw movement towards upside....
My target for upside is 1.0620.

I would like to short AUD at 1.0620 with target of 1.0550/1.0530 then close my shorts...I am expecting price should reach 1.0550 again by AUD employment data comes out, they are expecting only 5K comeon, the data is going to print more than that, then we should see a upside of 100 Pips atleast to 1.0640 to complete 60 Min ABC retracement.

So anticipating a surprise good data, i would enter long at 1.0540 area target 1.0640. Then take a short at 1.0640 target 1.0400, which...
Looks good but remem that important EU info is out soon so may change the PA.
  • #41,536
  • Mar 7, 2012 5:44pm Mar 7, 2012 5:44pm
Do you look at 1 min timeframe or 5 mins timeframe when trading the spike if any?
  • #41,537
  • Mar 7, 2012 5:45pm Mar 7, 2012 5:45pm
Quoting sidhujag
Looks good but remem that important EU info is out soon so may change the PA.
Sorry if this is a dumb question, but what is "PA"?
100 Pips per day can keep the bosses away.
  • #41,538
  • Mar 7, 2012 5:58pm Mar 7, 2012 5:58pm
Quoting rustyram
Finally we saw movement towards upside....
My target for upside is 1.0620.

I would like to short AUD at 1.0620 with target of 1.0550/1.0530 then close my shorts...I am expecting price should reach 1.0550 again by AUD employment data comes out, they are expecting only 5K comeon, the data is going to print more than that, then we should see a upside of 100 Pips atleast to 1.0640 to complete 60 Min ABC retracement.

So anticipating a surprise good data, i would enter long at 1.0540 area target 1.0640. Then take a short at 1.0640 target 1.0400,...
The upside potential is at 1.0700/1.0740 area.... Then head down to 1.0400

I am keeping my longs open.
PPP - Patience Pays PIPS
  • #41,539
  • Mar 7, 2012 5:58pm Mar 7, 2012 5:58pm
Quoting lasty
AUD/USD @ 1.0583

Unemployment out today.
If its a good number somebody is lying.
So many lay offs across many sectors except resources.

Look for opportunities to sell into any upward spike as I dont think we have finished this downside run.

happy punting
Ahhhh... so the gov't down under reports inaccuracies when it comes to "unemployment" just like here in the US of A.
again....

Politics....break down. Poli ..Latin word for MANY
Tics.... Blood sucking parasites.


Nuff said.
It's the simple things in life that have the most powerful meaning.
  • #41,540
  • Mar 7, 2012 6:39pm Mar 7, 2012 6:39pm
Quoting e585009
Sorry if this is a dumb question, but what is "PA"?
Price Action I believe
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