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AUD/USD

  • #46,101
  • Jun 3, 2012 11:07pm Jun 3, 2012 11:07pm
Quoting DaddyBear
Give you a heads up. I will be unloading my positions between 9670 (61.80%) and 0.9673. Please don't follow me if you feel there is more upside tonight. For Sunday moonlighting trading, it is good enough to me. Give my thanks to God!
Ya... I'm not sure where i'll be taking it, but i don't like the double top around 9660... and then the strong selloff back down below the 9644 low made about 40ish minutes ago.

This is a trade that...for me, technically is very nearly an A+ trade, but general market sentiment being so bearish, the asian equity markets having sold off... S&P mini breakout moved back into it's range... its just got a lot of downside bias to work through.

Not exactly sure were i will act, but i'm looking more towards position reduction and minimizing exposure at this point rather than capturing max profits.

X
  • #46,102
  • Jun 3, 2012 11:19pm Jun 3, 2012 11:19pm
Quoting DaddyBear
Give you a heads up. I will be unloading my positions between 9670 (61.80%) and 0.9673. Please don't follow me if you feel there is more upside tonight. For Sunday moonlighting trading, it is good enough to me. Give my thanks to God!
BTW, I liked the way you thought about this trade... particularly with the exits... moving your target zones closer as price action failed to gain continued upside traction.

Helps me to get a slightly different perspective on setting targets and managing a trade.

X
  • #46,103
  • Jun 3, 2012 11:30pm Jun 3, 2012 11:30pm
AUDUSD @ 9647ish...

Either way I count this, my EW training says we have at least one more push down before up... comments welcome...

Happy Monday!
Attached Image (click to enlarge)
Click to Enlarge Name: 12.06.03.AU.wo.15min.FFPost.jpg Size: 116 KB
  • #46,104
  • Jun 3, 2012 11:33pm Jun 3, 2012 11:33pm
My thoughts:

coupled with a slow sunday morning, today's theme still seems to be indecision. Sure technicals point that price is in a support zone, and that the bears seem to be running out of theme, but price appears to be stuck.

I see the eurozone ppi as a good catalyst that is likely to drive the prevailing direction (down) for tonight as long as the print meets or is worse than expectations to form new lows. I think for now price will most likely stick within the 20-60 range until a new pace is decided for tonights london session.
  • #46,105
  • Jun 4, 2012 12:13am Jun 4, 2012 12:13am
CNBC:
China Central Bank Chief Affirms Support for Euro Zone
daddybearforex. com
  • #46,106
  • Jun 4, 2012 12:51am Jun 4, 2012 12:51am
forextraderx, I am done. Got out of the trade @ 0.96701 as planned. It is really not easy to be a "gambler". I sat before computer for almost 5 hours. Now I am going to bed. see you tomorrow. Good night.
daddybearforex. com
  • #46,107
  • Jun 4, 2012 12:56am Jun 4, 2012 12:56am
Well, ended up closing about 85% of my total position out at 9669... so about 9 pips on first entry, and 20 on the 2nd... with part of the 2nd still running.

just really don't like sentiment, and with the lack of liquidty due to london holiday, i'd rather just reduce risk to 0, make a small profit, and focus on the next trade.

I see sentiment is risk off, with little chance of something emerging new to boost them, but techs giving very good reason for support.

I like the china headline DB... but if anything, it's discouraging more risk selling, rather than actually stimulating buying. The buying it seems is more focused on profit taking than anything else, IMO.

with the RBA being a bit of an x factor tomorrow... i just don't want to hold any exposure for longer than necessary.

I have about 1/4 of my origional position still open, and the target 9695.

Also a tiny short on usd/cad from 0435... targeting 0410, stops at BE.

Time to relax...and do it again tomorrow.

Good trading all, particularly nice trading DB.

X
  • #46,108
  • Jun 4, 2012 1:04am Jun 4, 2012 1:04am
Quoting forextraderx
Well, ended up closing about 85% of my total position out at 9669... so about 9 pips on first entry, and 20 on the 2nd... with part of the 2nd still running.

just really don't like sentiment, and with the lack of liquidty due to london holiday, i'd rather just reduce risk to 0, make a small profit, and focus on the next trade.

I see sentiment is risk off, with little chance of something emerging new to boost them, but techs giving very good reason for support.

I like the china headline DB... but if anything, it's discouraging more risk selling,...

It was very enjoyable to trade with you side by side tonight. It kept me focus on my goal better.
-DB-
daddybearforex. com
  • #46,109
  • Jun 4, 2012 1:24am Jun 4, 2012 1:24am
Quoting DaddyBear
It was very enjoyable to trade with you side by side tonight. It kept me focus on my goal better.
-DB-
well done. awsome trading
  • #46,110
  • Jun 4, 2012 1:47am Jun 4, 2012 1:47am
Quoting DaddyBear
CNBC:
China Central Bank Chief Affirms Support for Euro Zone
What was that? Can you make that print any bigger?
-I cant find my reading glasses...
Expect the unexpected.
  • #46,111
  • Jun 4, 2012 1:59am Jun 4, 2012 1:59am
lines lines lines

entry at 0.9655 sl 20 pips tp 40 pips

Attached Image (click to enlarge)
Click to Enlarge Name: audusd_june4.JPG Size: 165 KB
  • #46,112
  • Jun 4, 2012 2:07am Jun 4, 2012 2:07am
So what's everyone's take on the ASX closing below 4000? Media are having a field day saying the economy is screwed yet on the every chart below the 15M I can see growth and the 4H chart is showing that we are at the turning point of the MACD.

I'd like people's view. Should I hold my long? RBA are being tipped to cut rates but I think they will keep it level.
  • #46,113
  • Jun 4, 2012 2:08am Jun 4, 2012 2:08am
Quoting jayjb
lines lines lines

entry at 0.9655 sl 20 pips tp 40 pips

Attachment
long or short?
  • #46,114
  • Jun 4, 2012 2:11am Jun 4, 2012 2:11am
Quoting randyshan
long or short?
see chart ..buy
  • #46,115
  • Jun 4, 2012 2:12am Jun 4, 2012 2:12am
Quoting RhemyD
So what's everyone's take on the ASX closing below 4000? Media are having a field day saying the economy is screwed yet on the every chart below the 15M I can see growth and the 4H chart is showing that we are at the turning point of the MACD.

I'd like people's view. Should I hold my long? RBA are being tipped to cut rates but I think they will keep it level.
I think China will cut interest rate very soon. Maybe this week. So hold long.
  • #46,116
  • Jun 4, 2012 2:28am Jun 4, 2012 2:28am
Only a brain dead monkey would be long the Aussie at present hoping for free banana's

Monkeys are dreamers
In the days of old when sailors were bold, and seldom if ever contented.
  • #46,117
  • Jun 4, 2012 2:29am Jun 4, 2012 2:29am
I'm sitting on my hands
In the days of old when sailors were bold, and seldom if ever contented.
  • #46,118
  • Jun 4, 2012 2:35am Jun 4, 2012 2:35am
Pending Sell @0.9675
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 27 KB
  • #46,119
  • Jun 4, 2012 2:38am Jun 4, 2012 2:38am
Quoting pt49
Only a brain dead monkey would be long the Aussie at present hoping for free banana's

Monkeys are dreamers
There's a lot of Monkey's that trade forex
  • #46,120
  • Jun 4, 2012 2:46am Jun 4, 2012 2:46am
Quoting jayjb
lines lines lines

entry at 0.9655 sl 20 pips tp 40 pips

Attachment
SL to be+1

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