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AUD/USD

  • #51,141
  • Jul 27, 2012 1:43am Jul 27, 2012 1:43am
Wow, I can't believe the aud just keeps going up. Did some news just come out or something? I mean, it's almost 50 pips above the 200 ema on the minute chart. Just keeps shooting up and up and up.
Play the players, not the cards.
  • #51,142
  • Jul 27, 2012 1:46am Jul 27, 2012 1:46am
Quoting eliteincome
Great sunny day in NZ

New to this pair
so any tips
I trade small
to reduce stress an risk
Yeah lovely fine day here in NZ. My advice for this pair, trade big, make big, use stops and re enter if stopped out, trade with the trend.
  • #51,143
  • Jul 27, 2012 2:14am Jul 27, 2012 2:14am
NZ i am Auckland

I was eur/us yesterday

Had to close a few lemons out

with the big move up

still came out ahead
  • #51,144
  • Jul 27, 2012 2:17am Jul 27, 2012 2:17am
Quoting DonL
You can find the FF market data system here:

http://www.forexfactory.com/market.php

They can be very helpful. They can also be configured to post live data for different forex pairs and current & upcoming news reports. All sorts of good stuff!

Thank you DonL.
It's quite helpful..
  • #51,145
  • Jul 27, 2012 2:22am Jul 27, 2012 2:22am
Anyone seeing a retrace soon??
  • #51,146
  • Jul 27, 2012 2:41am Jul 27, 2012 2:41am
Quoting tradercnx
Yeah lovely fine day here in NZ. My advice for this pair, trade big, make big, use stops and re enter if stopped out, trade with the trend.

I'm not sure that I would ever advise a trader to trade big as a first rule of thumb.
That's a great way to blow an account.
I would recommend spending a LARGE/ HUGE/ MAJOR amount of time looking at the charts of the instrument that a person is interested in trading to learn how it reacts to as many variables that can be thrown at it, develop a system of rules for entry and exits that can be applied to that instrument and prove it out with small amounts first, using good risk management based on the size of account that a person can work with.

I suppose it's easy to understand why more than 75% of traders loose money, if not totally destroy their investment capitol!
  • #51,147
  • Jul 27, 2012 5:37am Jul 27, 2012 5:37am
i hope this is double top.
Short 1.0434 TP 1.0212 SL 1.0450
Attached Image (click to enlarge)
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Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #51,148
  • Jul 27, 2012 5:46am Jul 27, 2012 5:46am
Quoting DonL
The Aussie is definitely an interesting currency to trade. It has some attributes that will take some time to understand in how it reacts and responds to outside actions and the events that take place in countries other than Australia.
I do trade other currencies but always find myself gravitating back to the AUS.

It's price action can do exactly what you might expect and then at other times we have to look hard for the underlying reason that it has moved opposite to what you originally thought. Just keep in mind that there is always a good reason...
Good analogy.
Luck has no place in trading. Leave that for the poker table.
  • #51,149
  • Jul 27, 2012 10:23am Jul 27, 2012 10:23am
Short
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  • #51,150
  • Jul 27, 2012 11:45am Jul 27, 2012 11:45am
The Reserve Bank of Australia is like the Federal Reserve Bank of America, where key interest rates are set by the policy members. In forex trading, one of the most important indicators to watch are the interest rates.

One key strategy of large institutions is the carry trade strategy. This is when they buy currencies of countries with high interest rates (such as AUD +3.50%), and sell currencies with low interest rates (such as JPY +0.10%). Thereby earning the difference in interest every day. To learn more about this highly profitable strategy, google "forex carry trade."

For this year 2012, the Reserve Bank of Australia (RBA) has been busy cutting the interest rates. It was 4.75% last year! Right now, the rates sits at 3.5%. Yet at 3.5%, it has one of the highest interest rates for any developed nation. Not to forget that Australia still holds a AAA rating. Being a fundamentally sound country, with stable politics and economy, with 3.5% interest rate, it is the choice for institutionals who do long term carry trade strategies.

Once RBA starts to gradually increase interest rates, maybe back to 4.75%, the carry trade will become more attractive again. This will cause the institutions to buy up AUDUSD. When demand for AUDUSD increases, we may see the return to the all time high of 1.1000. So the question is when will RBA increase the rates? My guess. Early 2013, if and when eurozone crawls its way out of the mess.
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  • #51,151
  • Jul 27, 2012 12:17pm Jul 27, 2012 12:17pm
Quoting MidasFG
Short
Totally I agree with u mate!!!
  • #51,152
  • Jul 27, 2012 12:41pm Jul 27, 2012 12:41pm
Quoting reza9739
Totally I agree with u mate!!!
oops, 40 pip spike up
  • #51,153
  • Jul 27, 2012 1:55pm Jul 27, 2012 1:55pm
Who else sees a inverse H&S?

if that is the case, according to the calculation of the H&S , it sets a target to 1.20000
  • #51,154
  • Jul 27, 2012 2:02pm Jul 27, 2012 2:02pm
Quoting jeremyyn
Who else sees a inverse H&S?

if that is the case, according to the calculation of the H&S , it sets a target to 1.20000

trip to australia
  • #51,155
  • Jul 27, 2012 2:07pm Jul 27, 2012 2:07pm
Quoting jeremyyn
Who else sees a inverse H&S?

if that is the case, according to the calculation of the H&S , it sets a target to 1.20000
My apologies. 1.12 not 1.2

http://i49.tinypic.com/nmc10k.jpg

Must stay above the 1.04 level
  • #51,156
  • Jul 27, 2012 2:35pm Jul 27, 2012 2:35pm
its obvious we are in a uptrend, we go up 300 pips since 25th July, maybe we will see 1.06 but im sure we will have a retrace of 100 pips first
Do you want bet, guys?
  • #51,157
  • Jul 27, 2012 2:46pm Jul 27, 2012 2:46pm
Hello

Started this pair yesterday
Went short bad
Went long good

Trying pick these waves,not so easy

I will keep reading the posts
  • #51,158
  • Jul 27, 2012 2:55pm Jul 27, 2012 2:55pm
Quoting Itrade24h
its obvious we are in a uptrend, we go up 300 pips since 25th July, maybe we will see 1.06 but im sure we will have a retrace of 100 pips first
Do you want bet, guys?
Hello

Dam just closed my long which was in profit,done this 3 times now.
Keep thinking it will retrace,I got a bad habit off entering at the top the big move an it drops heaps.
  • #51,159
  • Edited 3:35pm Jul 27, 2012 3:19pm | Edited 3:35pm
Quoting jeremyyn
My apologies. 1.12 not 1.2

http://i49.tinypic.com/nmc10k.jpg

Must stay above the 1.04 level

I totally agree if 490-500 zone taken, but if not, see u at .98
Use me as a contrarian indicator
  • #51,160
  • Jul 27, 2012 6:20pm Jul 27, 2012 6:20pm
Quoting mrbandwidth
I totally agree if 490-500 zone taken, but if not, see u at .98
You may be right. The market tend to the opposite from what im thinking.

Use me as a contrarian indicator
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