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AUD/USD

  • #45,541
  • May 28, 2012 10:27pm May 28, 2012 10:27pm
Quoting Daytrader74
Trading account back in GREEN and already up +7.74% for the day.
I clicked on your myfxbook link... Might I inquire as to what happened on that 1 trade?

I mean, it was looking so good... is this just inherent in your system (small targets, big stops), or was there another factor?

X
  • #45,542
  • May 28, 2012 10:29pm May 28, 2012 10:29pm
Quoting forextraderx
I clicked on your myfxbook link... Might I inquire as to what happened on that 1 trade?

I mean, it was looking so good... is this just inherent in your system (small targets, big stops), or was there another factor?

X
Earthquake
  • #45,543
  • May 28, 2012 10:43pm May 28, 2012 10:43pm
Second short in @9849
  • #45,544
  • May 28, 2012 10:51pm May 28, 2012 10:51pm
Quoting GSGill
Second short in @9849
GS... not to burst your bubble so much as to suggest a thought...

If you take a look at the eur/aud charts, a daily and a 4 hour, you'll see that it has broken a long term trendline, and looks like it could mount a scary drop off.

At very least, I wouldn't go long it.

And, if you check the eur/usd charts...you'll see greatly diminished downward momentum the last 3-4 days, and in fact many at the eur/usd thread who daytrade successfully are looking to get long.


So...if eur/usd may go up...and eur/aud looks about to really drop...

aud/usd short may be an exercise in masochism. Of course, it could be brilliant.... but I tend to think any drop on it will be small. I doubt we'll retest below 0.9800 before we hit 0.9900.

It's just not the best odds, IMO. Not saying so much for this trade in particular, but as a concept, you might want to check out the charts of related markets...to get a sense of the overall market sentiment and currency strength against each other.

X
  • #45,545
  • May 28, 2012 10:52pm May 28, 2012 10:52pm
Quoting Daytrader74
Earthquake
gotcha.
  • #45,546
  • May 28, 2012 11:03pm May 28, 2012 11:03pm
Just wondering if any one thinks this pair will go back down to .9707 any time soon.
  • #45,547
  • May 28, 2012 11:08pm May 28, 2012 11:08pm
Quoting forextraderx
GS... not to burst your bubble so much as to suggest a thought...

If you take a look at the eur/aud charts, a daily and a 4 hour, you'll see that it has broken a long term trendline, and looks like it could mount a scary...

X
My thoughts, if I may: you make valid points on all counts but here's what I see, I see a failed attempt at breaking through and holding 9880 yesterday. I see us closing below a key FIB on the weekly and I see that fundamentally the EURO is walking a very fine line here and 1.25 is being defended with institutional might and fireworks but that I beleive to be just a show where that COT record short report last week is fading to the background in the retailers' mind.... just a part of what Im looking at, and yes I could be very wrong also and we do end up seeing 9935-66 before anything else. As I write this, I see a bullish engulfing candle forming on the 240 min chart and so I might exit here soon. It wont be terrible impact on my account as I had planned a third short which I might not take if this infact does break and hold 9860.
  • #45,548
  • May 28, 2012 11:14pm May 28, 2012 11:14pm
I'm being patient and waiting for the London open to see which way the market wants to play.

Price action suggests shorting the USD pairs, based on my fibs (4 hour and dailys), but the market will do what it wants, and I'm not about to enter it a few hours before London opens.
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,549
  • May 28, 2012 11:21pm May 28, 2012 11:21pm
We may get a little move down here from 9850 now...but i wouldn't bet it going any lower than 9825-30
  • #45,550
  • May 28, 2012 11:24pm May 28, 2012 11:24pm
Quoting GSGill
My thoughts, if I may: you make valid points on all counts but here's what I see, I see a failed attempt at breaking through and holding 9880 yesterday. I see us closing below a key FIB on the weekly and I see that fundamentally the EURO is walking a very fine line here and 1.25 is being defended with institutional might and fireworks but that I beleive to be just a show where that COT record short report last week is fading to the background in the retailers' mind.... just a part of what Im looking at, and yes I could be very wrong also and we...
Ok, fair enough.... I'm kinda new to actually posting here (though i've been around for years as a visitor), so I'm not familiar with some folks and their trading... you have your reasons, and they are decent. I also don't know your targets... but I just hate selling after drops in price. So that bias may be leaking through.

X

P.S. china just announced it will support a stimulus of sorts, and asian equity markets as well as aussie and kiwi markets are rallying (and this is likly bullish for the currency, and risk in general)
  • #45,551
  • May 28, 2012 11:27pm May 28, 2012 11:27pm
Short Setup
Attached Image (click to enlarge)
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  • #45,552
  • May 28, 2012 11:31pm May 28, 2012 11:31pm
Quoting forextraderx
Ok, fair enough.... I'm kinda new to actually posting here (though i've been around for years as a visitor), so I'm not familiar with some folks and their trading... you have your reasons, and they are decent. I also don't know your targets... but I just hate selling after drops in price. So that bias may be leaking through.

X

P.S. china just announced it will support a stimulus of sorts, and asian equity markets as well as aussie and kiwi markets are rallying (and this is likly bullish for the currency, and risk in general)
Much appreciated
  • #45,553
  • May 28, 2012 11:40pm May 28, 2012 11:40pm
Quoting CoolTrader
Short Setup
It could work, no doubt. But I don't think you'll get much more than 9830 at most.

In fact, if we can get to london open without a retracement there, I'll be looking to get long around 9830 myself.

too many factors from a techi senti fundi point of view supporting the aud today, and with greece polling pointing towards a pro-austerity party in the coming elections and the overall massive selloff we've had the last few weeks, I personally am looking long on risk markets for toady.

ANd with china's announcement and asian equity markets reversing to the upside now... selling just doesn't feel right.
  • #45,554
  • May 28, 2012 11:50pm May 28, 2012 11:50pm
Long NZD 0.7608, Sl 0.7568, Tp open
Expect the unexpected.
  • #45,555
  • May 28, 2012 11:51pm May 28, 2012 11:51pm
Quoting CoolTrader
Short Setup
i do too
  • #45,556
  • May 29, 2012 12:00am May 29, 2012 12:00am
Long aud 0.9850 sl 50 tp 110
  • #45,557
  • May 29, 2012 12:01am May 29, 2012 12:01am
Down it seems, might test up but Im holding the short.
  • #45,558
  • May 29, 2012 12:04am May 29, 2012 12:04am
Quoting fx-rocket
Long NZD 0.7608, Sl 0.7568, Tp open
wrong thread again dude... you smoke too much weed
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,559
  • May 29, 2012 12:05am May 29, 2012 12:05am
Quoting pt49
wrong thread again dude... you smoke too much weed
HAHA
  • #45,560
  • May 29, 2012 12:11am May 29, 2012 12:11am
Quoting pt49
wrong thread again dude... you smoke too much weed
What is weed?
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