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AUD/USD

  • #45,681
  • May 29, 2012 11:53pm May 29, 2012 11:53pm
probably coz venus is retrogade :-)

  • #45,682
  • May 30, 2012 1:42am May 30, 2012 1:42am
Quoting RhemyD
I just had a thought:

If we break a trend line and are unsure of direction would it be a wise idea to set up two trades one in each direction? Use half the channel as a stop loss point for the other direction trade. This way one trade gets stopped and you make half the channel as profit.
I've read on FF that if you are going to hedge it is best to do it in a different pair.
Over thinking over analyzing separates the body from the mind.
  • #45,683
  • May 30, 2012 2:00am May 30, 2012 2:00am
Quoting RhemyD
I'm giving it a go. I agree with you on tech and fundamental. Fundamentals are hard to guage at this point in time as risk sentiment is chaotic. Lots of people are uninvesting which is resulting in plays in the market against the norm.

If we drop back in the channel we'll stay there. If this is a break out then we'll hit a new high before trending down again. That's my take on the markets.
If you are trading longer timeframe charts fundamentals are easy, nothing chaotic at all... Europe is screwed, the US$ is regarded as a safe haven for scared big money, the minerals boom in Australia is waning a little and Julia Gillard/Wayne Swan a freakin idiots.

Sell the AUD, GBP, EUR

Simple.

If you are a sacalper trading 5 to 60 minute charts, I agree that fundies are confusing, but I prefer not to be confused, so I generally don't look at charts under 4hr

TRUST ME... it really is easy to make money trading if you are NOT confused.

In the days of old when sailors were bold, and seldom if ever contented.
  • #45,684
  • May 30, 2012 2:04am May 30, 2012 2:04am
Quoting pt49
If you are trading longer timeframe charts fundamentals are easy, nothing chaotic at all... Europe is screwed, the US$ is regarded as a safe haven for scared big money, the minerals boom in Australia is waning a little and Julia Gillard/Wayne Swan a freakin idiots.

Sell the AUD, GBP, EUR

Simple.

If you are a sacalper trading 5 to 60 minute charts, I agree that fundies are confusing, but I prefer not to be confused, so I don't look at charts under 4hr
You mention the mining industry waning in Oz but if China have put stimulus on hold then will exports in Iron ore pick up.
Over thinking over analyzing separates the body from the mind.
  • #45,685
  • May 30, 2012 2:10am May 30, 2012 2:10am
Good morning.

Attached Image (click to enlarge)
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  • #45,686
  • May 30, 2012 2:21am May 30, 2012 2:21am
Quoting 3stepsahead
You mention the mining industry waning in Oz but if China have put stimulus on hold then will exports in Iron ore pick up.
Nope... CHY stimulus = Chinese the money to buy minerals, coal and LNG that Australia sells

EDIT... sorry

Chinese stimulus on hold = Australia suffers, causing loss of jobs and lower GDP = lower AUD
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,687
  • May 30, 2012 2:24am May 30, 2012 2:24am
I just tried "hedging" if that's what its called. Unfortunately it looks as if Odana doesn't allow this?! My orders executed and cancelled each other out. What's the deal?
  • #45,688
  • May 30, 2012 2:25am May 30, 2012 2:25am
Quoting RhemyD
I just tried "hedging" if that's what its called. Unfortunately it looks as if Odana doesn't allow this?! My orders executed and cancelled each other out. What's the deal?
Read your brokers terms of trading rules
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,689
  • May 30, 2012 2:27am May 30, 2012 2:27am
Quoting pt49
Nope... CHY stimulus = Chinese the money to buy minerals, coal and LNG that Australia sells

EDIT... sorry

Chinese stimulus on hold = Australia suffers, causing loss of jobs and lower GDP = lower AUD
Cheers mate glad I'm trading in the right direction. Do you think there will be a retest of 97
Over thinking over analyzing separates the body from the mind.
  • #45,690
  • May 30, 2012 2:28am May 30, 2012 2:28am
Quoting Paulenok
Good morning.

Attachment
+16
  • #45,691
  • May 30, 2012 2:32am May 30, 2012 2:32am
Quoting 3stepsahead
Cheers mate glad I'm trading in the right direction. Do you think there will be a retest of 97
We'll probably see a retest of 0.9300 in the next few weeks.

Only thing that can push the AUD up in my opinion is Chinese stimulus (possible) and/or higher interest rates from RBA (unlikely).

That being said I would not be surprised to see the AUD at or over $1.30 within 12 months.
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,692
  • May 30, 2012 2:53am May 30, 2012 2:53am
The gappies are celebrating, their precious gap from last Friday finally closed.
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,693
  • May 30, 2012 3:22am May 30, 2012 3:22am
Quoting pt49
The gappies are celebrating, their precious gap from last Friday finally closed.
Yeah well done to the gappies. Mind the GAP.
  • #45,694
  • May 30, 2012 4:30am May 30, 2012 4:30am
Quoting RhemyD
I just tried "hedging" if that's what its called. Unfortunately it looks as if Odana doesn't allow this?! My orders executed and cancelled each other out. What's the deal?
Just open a sub-account. Then you can do "hedging".
  • #45,695
  • May 30, 2012 5:03am May 30, 2012 5:03am
Quoting Paulenok
Good morning.

Attachment
Alternate view, however unlikely that it is, for the sake of argument...

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Every time you use 'hopium' in a post, God kills a kitten.
  • #45,696
  • May 30, 2012 5:10am May 30, 2012 5:10am
hello every one is this head & shoulders on 4h charts

what do u all think about it

http://www3.0zz0.com/2012/05/30/09/278874083.gif
  • #45,697
  • May 30, 2012 5:54am May 30, 2012 5:54am
been breaking my supports all day
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  • #45,698
  • May 30, 2012 6:38am May 30, 2012 6:38am
Quoting aheuss01
hello every one is this head & shoulders on 4h charts

what do u all think about it

http://www3.0zz0.com/2012/05/30/09/278874083.gif
Looks more like my old sac hanging between my legs.

The AUD is dropping in the near term, stop trying to buck the obvious trend... it can only end in disaster.
__________________
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,699
  • May 30, 2012 6:44am May 30, 2012 6:44am
Quoting pt49
Looks more like my old sac hanging between my legs.

The AUD is dropping in the near term, stop trying to buck the obvious trend... it can only end in disaster.
__________________
Be nice.

At least guide the poor fellow to a proper site that teaches the proper head and shoulders PA
  • #45,700
  • May 30, 2012 7:16am May 30, 2012 7:16am
Strong correlation of all USD crosses.
Be careful not to overleverage because your trades will most likely move in tandem.
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