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AUD/USD

  • #46,781
  • Jun 11, 2012 5:37am Jun 11, 2012 5:37am
Quoting balanced2012
The pulse of risk-on to start the week boosted the AUD/USD from Friday’s close near 0.9910 to slightly crack the 1.00 level just moments after retail fx opened for the week of 6/11-6/15. In the 4H chart, the RSI tagged 70 fell to around 50 and is pushing above 60, a sign of bullish momentum developing. This initial push gives the AUD/USD a bullish tone for the week, especially if the opening jump can be followed by a push above the 1.00-1.0020 resistance area. If the market fails to push above 1.0020, and falls below last week’s low, as well as...
But that was last week's RSI... it could be consider a bullish momentum developing but if you look at it again. 4h It's a positive divergence which is a bad sign on my part because I'm long the AUD. two times it tried to surpass 1.0020.. with a positive divergence. I'm hoping for the best which is not making me switch.

Is the weekend gap factored into the RSI?
  • #46,782
  • Jun 11, 2012 5:43am Jun 11, 2012 5:43am
Quoting arcticpolar
But that was last week's RSI... it could be consider a bullish momentum developing but if you look at it again. 4h It's a positive divergence which is a bad sign on my part because I'm long the AUD. two times it tried to surpass 1.0020.. with a positive divergence. I'm hoping for the best which is not making me switch.

Is the weekend gap factored into the RSI?

lets see what the NY is bringing for us
“Don't cry because it's over, smile because it happened.â€Â
  • #46,783
  • Jun 11, 2012 5:46am Jun 11, 2012 5:46am
Quoting balanced2012
lets see what the NY is bringing for us

yes it is but lets agree on something which is the market really driven by fundmentals only for the last couple of weeks
“Don't cry because it's over, smile because it happened.â€Â
  • #46,784
  • Jun 11, 2012 5:49am Jun 11, 2012 5:49am
don't know why everybody is saying going long...i'd short it like i just don't care lol
Twitter: @forexpokerpro
  • #46,785
  • Jun 11, 2012 5:50am Jun 11, 2012 5:50am
Quoting Zac
Thats a really good call, while it hasnt made the 35 pips yet,. calling the 9940 level was spot on, its bounced right off it.
What sort of analysis is that from?

Im new to TA as such and am interested to see what people rely on and works for them.
Look at M15, M30 and H1 for how price behaves then M5 to determine if the same thing happens this time around
  • #46,786
  • Jun 11, 2012 5:50am Jun 11, 2012 5:50am
Quoting balanced2012
lets see what the NY is bringing for us
NY time is always crazy. It's mostly makes big moves... finger crossed in my direction.
  • #46,787
  • Jun 11, 2012 5:52am Jun 11, 2012 5:52am
Quoting balanced2012
yes it is but lets agree on something which is the market really driven by fundmentals only for the last couple of weeks
which fundamental should i look at?!?!!? Europe or Austrailia or China? haha... three things tell me long, One big thing coupled with many Italy Spain and more to come tells me short.

if Ben stepped out and said okay here comes QE3. that'll will make this clear for me.
  • #46,788
  • Jun 11, 2012 5:54am Jun 11, 2012 5:54am
This might be the last chance IMHO to go long. If the price doesn't breach parity in another try we might be looking at a one way street down south.

Might be wrong.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #46,789
  • Jun 11, 2012 5:58am Jun 11, 2012 5:58am
Quoting jayjb
Look at M15, M30 and H1 for how price behaves then M5 to determine if the same thing happens this time around
I wish you could show me what you noticed. I'm looking at it back and forth, back and forth. can't make see a clear decision other than I have made some gains and this unwillingness to let go. haha... maybe i should just tp at 0.99750 with you and reset my play from there.
  • #46,790
  • Jun 11, 2012 6:02am Jun 11, 2012 6:02am
Quoting rafiqhidayat
This might be the last chance IMHO to go long. If the price doesn't breach parity in another try we might be looking at a one way street down south.

Might be wrong.
you're right. if it can't clearly break 1.0020 or whatever the number is around that point. it's south from here. I mean if you can't break it two times, and then you can't break it three times... then yeah.
  • #46,791
  • Jun 11, 2012 6:09am Jun 11, 2012 6:09am
Quoting jayjb
gone long at 0.9940 sl 35 pips tp parity
sl to be +1
  • #46,792
  • Jun 11, 2012 6:11am Jun 11, 2012 6:11am
Quoting jayjb
sl to be +1
Interesting... why the +1?
  • #46,793
  • Edited 6:33am Jun 11, 2012 6:22am | Edited 6:33am
France and Spain sold billions of Euro bonds... is this risk-off or risk-on. I would pick risk-on. any other opinion?

edit: sorry typed the wrong one. Risk-on.

crap... I'm wrong... it just flew 20 pips downwards.
  • #46,794
  • Jun 11, 2012 6:33am Jun 11, 2012 6:33am
Quoting arcticpolar
France and Spain sold billions of Euro bonds... is this risk-off or risk-on. I would pick risk-on. any other opinion?

edit: sorry typed the wrong one. Risk-on.

crap... I'm wrong... it just flew 20 pips downwards.
I agree risk on !!
“Don't cry because it's over, smile because it happened.â€Â
  • #46,795
  • Jun 11, 2012 6:38am Jun 11, 2012 6:38am
Quoting rafiqhidayat
This might be the last chance IMHO to go long. If the price doesn't breach parity in another try we might be looking at a one way street down south.

Might be wrong.
what TP and time-frame do you have in mind here ?
Twitter: @forexpokerpro
  • #46,796
  • Jun 11, 2012 6:41am Jun 11, 2012 6:41am
Quoting BBPI_fxtrader
what TP and time-frame do you have in mind here ?
At a minimum .96 (could be worse). Time frame is more related to potential uncertainties relating to this coming wknd Greek election.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #46,797
  • Jun 11, 2012 6:56am Jun 11, 2012 6:56am
Quoting benjamf13
sorry to say that gap wasn't in the downward trajectory like many thought.

I too got caught in the 66pip gap UP
Looks like the elevator resumes its original downward move to the ground floor. There are so many bulls with us now. I guess they took the wrong elevator earlier.
daddybearforex. com
  • #46,798
  • Jun 11, 2012 7:01am Jun 11, 2012 7:01am
Quoting DaddyBear
Looks like the elevator resumes its original downward move to the ground floor. There are so many bulls with us now. I guess they took the wrong elevator earlier.

yeah gave back almost all the pips gained on the gap jump. should have left when the gap opened. greed. =/
  • #46,799
  • Jun 11, 2012 7:04am Jun 11, 2012 7:04am
Quoting DaddyBear
Looks like the elevator resumes its original downward move to the ground floor. There are so many bulls with us now. I guess they took the wrong elevator earlier.
The painkiller given to Spain by Europe was not working well. The Euro dropped more than 130 pips from its session high at this point.
daddybearforex. com
  • #46,800
  • Jun 11, 2012 7:21am Jun 11, 2012 7:21am
Quoting Daytrader74
Still have 0.01% left of my account.
=/ How much did you start with? live account?
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