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AUD/USD

  • #41,961
  • Mar 15, 2012 6:59pm Mar 15, 2012 6:59pm
Spotted long opportunity for AUDNZD, right after closing a 90 pips move down
  • #41,962
  • Mar 15, 2012 7:43pm Mar 15, 2012 7:43pm
Quoting mkshoaib
Long AUD @ 1.0529
Closed long 1.0550, Short 1.0550
  • #41,963
  • Mar 15, 2012 7:54pm Mar 15, 2012 7:54pm
Quoting jayjb
Spotted long opportunity for AUDNZD, right after closing a 90 pips move down
Jay, have you find the holy grail in trading for this month?
Look at your return
  • #41,964
  • Mar 16, 2012 12:00am Mar 16, 2012 12:00am
Double top formation at a critical resistance where a previous double top pattern went south bound. Also, bearish divergence is clearly seen on H1 chart. 200-day moving average on H1 has almost been touched. I can sense that the time is right to short the pair.
PRICE ACTION is the only real time indicator.
  • #41,965
  • Mar 16, 2012 1:16am Mar 16, 2012 1:16am
Long aud @1.0520 tp @1.0590 sl @1.0479
  • #41,966
  • Mar 16, 2012 1:21am Mar 16, 2012 1:21am
M5 Chart: fibonacci 61 support from latest rally and bull flag forming on said rally.

that flag can also be a wedge.
  • #41,967
  • Mar 16, 2012 2:39am Mar 16, 2012 2:39am
Today I expect +40 pip of profit before market close. Let's roll
The tone of your words reflects the quality and result of your trading ;-)
  • #41,968
  • Mar 16, 2012 5:18am Mar 16, 2012 5:18am
Quoting Daytrader74
Bear flag on 5M Chart
Hi, Friends,

I am very new in this forum also in Forex trading, kindly advise me where i can get the latest news for forex trading, specially for AUDUSD? any web site?

2nd what you expect AUDUSD will more bearish or there is chance of bullish, I got entry on 1.430, still going in small loss,
kindly waiting your advise,
  • #41,969
  • Mar 16, 2012 6:07am Mar 16, 2012 6:07am
Quoting Daytrader74
Long aud @1.0520 tp @1.0590 sl @1.0479
Perfect Daytrader74,
what made you feel (or foresee) to go long?
  • #41,970
  • Mar 16, 2012 6:09am Mar 16, 2012 6:09am
Quoting ahmad37
Hi, Friends,

I am very new in this forum also in Forex trading, kindly advise me where i can get the latest news for forex trading, specially for AUDUSD? any web site?

2nd what you expect AUDUSD will more bearish or there is chance of bullish, I got entry on 1.430, still going in small loss,
kindly waiting your advise,
Just noticed that you stated that you made an entry at 1.430 and stated a small loss. Did you go short at that entry or did you mean 1.530 for a Long entry? If it was short, then the news came out and didn't do you any favours.

The Aussie is a fairly interesting currency to trade in that against the US dollar, news can actually come out favorable to the USD and because of risk on effect, the AUD can actually go up against the USD because of it. Or, the US can post bad news for the country and the AUD can still go up against it or it may go down because of poor risk sentiment.

Rather than trading the news, probably better to trade Price Action. (PA)

Currently because of the interest rate differential, the AUD tends to be biased to the up side. Some traders will simply go long on the Aussie and hold it for the positive swap they receive on it. That's called Carry Trade.

The Forex Calendar here on FF will give you a list of the upcoming events as they are happening.
  • #41,971
  • Mar 16, 2012 6:17am Mar 16, 2012 6:17am
Quoting AdamG
Perfect Daytrader74,
what made you feel (or foresee) to go long?
My crystal ball...
  • #41,972
  • Mar 16, 2012 6:29am Mar 16, 2012 6:29am
Maybe 630 then 480
Use me as a contrarian indicator
  • #41,973
  • Mar 16, 2012 6:52am Mar 16, 2012 6:52am
Quoting ahmad37
Hi, Friends,

I am very new in this forum also in Forex trading, kindly advise me where i can get the latest news for forex trading, specially for AUDUSD? any web site?

2nd what you expect AUDUSD will more bearish or there is chance of bullish, I got entry on 1.430, still going in small loss,
kindly waiting your advise,
AUDUSD @ 10576

OUCH !!! If you are short from 10430, I would guess that this trade went against you pretty much immediately (low is 10422)... and are now down some 130 pips...

My mentor has taught me that every trader has TWO accounts to protect in FOREX trading:

Account #1) Your financial trading account. Obviously a 140 pip stop loss is going to affect your trading account negatively

Account #2) Your Psychological account... your personal psychological state is also negatively affected with a trade that far against you. This account is equally important... ESPECIALLY for newer traders...

We must protect our psyche just as much as we protect our trading account. Big losses affect our confidence and the next trade could be substantially affected by that 'emotion' that has carried over psychologically from those big losers

My recommendation on this pair - AND ANY PAIR - for that matter - know your exit strategy before you enter... this may help protect both accounts.

Also, do everything in your power to learn to stop chasing price...

Just Say NO to chasing.... seriously, in this game - "PAYtience" is King

Best wishes for your success...
  • #41,974
  • Mar 16, 2012 7:10am Mar 16, 2012 7:10am
Quoting FX-Petra
Closed 0440 @ 0550. Still holding 0525, 0550, and 0575. Good trades to all!

Regards,
will TP on 525 near 625.... top of the 4hr channell that is forming. Let the other 2 run for potential beakout next week.

Regards,
  • #41,975
  • Mar 16, 2012 7:13am Mar 16, 2012 7:13am
Quoting zodiak
..i agree...

still holding my longs...SL at BE....cheers
  • #41,976
  • Mar 16, 2012 7:14am Mar 16, 2012 7:14am
Quoting AdamG
Perfect Daytrader74,
what made you feel (or foresee) to go long?
The question is, should I be long, or should I be out? Being short this pair has been mostly heartache for almost 2 yrs now. Why try to make money short with that horrible roll just clobbering you over the head every day? Until the fundamental outlook changes for intrest rates, this pair will drift upwards absent some news temporarily driving it down.

Regards,
  • #41,977
  • Mar 16, 2012 7:23am Mar 16, 2012 7:23am
Also, do everything in your power to learn to stop chasing price...

Just Say NO to chasing.... seriously, in this game - "PAYtience" is King

Best wishes for your success...[/quote]


Great advice, the hardest lesson I had to learn was patience, knowing when to wait and knowing when to pull the trigger
  • #41,978
  • Mar 16, 2012 8:50am Mar 16, 2012 8:50am
Quoting FX-Petra
The question is, should I be long, or should I be out? ...
Regards,
A very good post, thanks. Indeed i was shorting
Adam
  • #41,979
  • Mar 16, 2012 10:33am Mar 16, 2012 10:33am
If we can get a close up here this afternoon, Aussie will post a very bullish hammer on the weekly candle. May hold my longs over the weekend.
  • #41,980
  • Mar 16, 2012 11:32am Mar 16, 2012 11:32am
Quoting Zeroh
0550 looks like it soon will be tested. potentially strong rally if it can reach that and hold gains but im getting out 2/3rds there too risky this things been making new lows and i added to longs @ 0450. Will probably end up holding a small long if we can keep 0550 levels over the weekend.

Better to use this opportunity to reduce your longs if you have em.

I reduced my positions @550 and took profit set a small long order @500 but it never came back to 500. Watched as the price hit a low of about 510 saw signs of reversal on 15m got impatient and added small longs unfortunately @530, my position sitting at just under 0500 currently. Today checking on the market on my phone on the train to work were @590 on dailys fair chance of reversal, with an hour to go we are likely to hold these gains. Will hold my position and probably be buying on dips next week, lets hope were fortunate and got in on the beginnings of a new trend...ill be happier if we close above 1.06
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