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AUD/USD

  • #45,021
  • May 21, 2012 8:47am May 21, 2012 8:47am
Quoting fosking
Welcome to the consistently profitable traders club!
that good for u mate..welcome to the club.
  • #45,022
  • May 21, 2012 8:53am May 21, 2012 8:53am
Quoting fosking
Aussie equities are being held up. A break and AU should sink like the Titanic.

ASX M30
Attachment
Really?
  • #45,023
  • May 21, 2012 8:55am May 21, 2012 8:55am
Trading is as difficult as you make it. Try and predict the future and you will lose. Trade what the chart is actually doing and you will have half a chance of making some decent money.
The truth is too many people come with the idea of buy at the bottom and sell at the top and try and put that into practice by trying to pick tops and bottoms, they will fail.
If there looks to be a change in trend, you wait for confirmation. Sure you will not get in right at the top or bottom but who cares because you know you have just increased your percentage win rate by 100 fold.
  • #45,024
  • May 21, 2012 8:56am May 21, 2012 8:56am
Quoting Daytrader74
Really?
Aussie equities fall off a cliff, you think AU will fly?
  • #45,025
  • May 21, 2012 8:57am May 21, 2012 8:57am
Quoting fosking
Aussie equities fall off a cliff, you think AU will fly?
It certainly will not sink like the Titanic like your saying
  • #45,026
  • May 21, 2012 9:08am May 21, 2012 9:08am
Quoting fosking
sink like a rubber dingy.

Haha is that better?
  • #45,027
  • May 21, 2012 9:25am May 21, 2012 9:25am
i fully understand where your coming from now. Im only 21 been trading for 2 years. I have been doing exactly what you said trying to pick top and bottom. My account balance just varies to much in one direction or another. Hence why i can never make decent money.

Ill be sure to let you know how well im getting on in this club over the next few months.

thank you for the wise words.

good night all.
  • #45,028
  • May 21, 2012 9:33am May 21, 2012 9:33am
US equity market have kind of a reverse effect on USD, i.e. when US equity market raise USD usually drop.
  • #45,029
  • May 21, 2012 9:33am May 21, 2012 9:33am
Quoting pippaholic
i fully understand where your coming from now. Im only 21 been trading for 2 years. I have been doing exactly what you said trying to pick top and bottom. My account balance just varies to much in one direction or another. Hence why i can never make decent money.

Ill be sure to let you know how well im getting on in this club over the next few months.

thank you for the wise words.

good night all.
It's that and pure experience! I've been trading since 2003 so have a little head start. Good luck!
  • #45,030
  • May 21, 2012 9:37am May 21, 2012 9:37am
Quoting ywong
US equity market have kind of a reverse effect on USD, i.e. when US equity market raise USD usually drop.
Yes. The blue line is the USDOLLAR index and the white is the Dow.

H1
Attached Image (click to enlarge)
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  • #45,031
  • May 21, 2012 9:38am May 21, 2012 9:38am
p.a close to the 15m 200.. been bouncin off of it.. the 3rd time in the last 3 hours... 9825 looks like a good target in case of a short..
  • #45,032
  • May 21, 2012 10:02am May 21, 2012 10:02am
US equity market is recovering, however gold still at its low range of the day AUD run up is capped.
  • #45,033
  • May 21, 2012 10:04am May 21, 2012 10:04am
ok.. touched the 200 **black line** .. candle pattern is formin.. nice shootin star / doji like candle.. now waitin on a low close.. 5-6ema cross and macd .. and short we go.. if not.. then i'll keep waitin :-/ ... for the right set up..
Attached Image (click to enlarge)
Click to Enlarge Name: au sample2.jpg Size: 292 KB
  • #45,034
  • May 21, 2012 10:05am May 21, 2012 10:05am
Quoting forexjam1
p.a close to the 15m 200.. been bouncin off of it.. the 3rd time in the last 3 hours... 9825 looks like a good target in case of a short..
oops i meant to say ..in the last 12 hours..
  • #45,035
  • May 21, 2012 10:22am May 21, 2012 10:22am
long 0.9850 sl 20 pips tp 45 pips
  • #45,036
  • May 21, 2012 10:39am May 21, 2012 10:39am
Quoting jayjb
long 0.9850 sl 20 pips tp 45 pips
Turns from 9890 a couple of times already.

Good luck.
  • #45,037
  • May 21, 2012 11:26am May 21, 2012 11:26am
S&P and AUD both testing day high, if break out upside 9890 at least.
  • #45,038
  • May 21, 2012 11:27am May 21, 2012 11:27am
Quoting jayjb
long 0.9850 sl 20 pips tp 45 pips
sl to be +1
  • #45,039
  • May 21, 2012 1:16pm May 21, 2012 1:16pm
What a terribly unexciting day for the Dow.

M1
Attached Image (click to enlarge)
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  • #45,040
  • May 21, 2012 2:14pm May 21, 2012 2:14pm
Quoting Intrepid32
Looks like the sell-off to .9795 was a push to the lower edge of the descending channel, then a bounce. We've since posted higher swing lows on the hourly charts, so if it holds, we should test the upper edge of the descending channel somewhere around .9900 at minimum. Should that break, we would target .9950, 1.0050, 1.0130, 1.0220. Failure to hold .9795 would open up .9708 and .9670 areas to the downside.
Updated chart.....Testing upper resistance of descending channel now. Closed longs, will re-enter if the channel breaks.
Attached Image (click to enlarge)
Click to Enlarge Name: au 240 des channel.gif Size: 47 KB
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