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  • #6,481
  • Aug 17, 2012 2:24am Aug 17, 2012 2:24am
Quoting Rag2RichesFX
Is it finally safe to short EURAUD?

Short @ 1.1840
i was wrong.. the smaller was 1842.. we hit it.. so some retrace is normal sometime after.. #106452 (http://www.forexfactory.com/showthread.php?p=5911598#post5911598)
1855 may be a better s.. just not for me.. i am already long.
those who can, do. those who cant, talk about those who can
  • #6,482
  • Aug 17, 2012 2:26am Aug 17, 2012 2:26am
Quoting gatorinla
i quit thinking in trading. its either or not. no grenades here.. precise, in or out.. if wrong, i am out
cutting losers quick and trying to get precise entries has been a key breakthrough for me. sometimes ill still try the occasional 25 pip S/L but most of the time its a 5-10 pip S/L. Sometimes 1-3 pips (adding to a position on a retrace, trying to get the precise entry before trend continues)

This way I get multiple attempts per day before my limit of 25 pips lost in one day is reached.

If there was no such thing as a spread, everyone could just trade with 1 pip S/L and reenter the position after the S/L got hit. Makes no difference whether you let it float or not if you are going to re enter anyway, the only difference is you have to pay another spread.

With spreads of 0.7, it's almost like having no spread, so I can do this 10 times a day and only have to pay an additional 7-8 pips for doing so. But the amount of pips saved from using a tight stop instead of a wide one far outweighs the spread cost.

Hope that made sense..I'm not the best at explaining anything




What do you think about AUD, do you think 104.40 has enough demand to hold her up, or whats your next target for getting long?
Be hopeful in a winning position, and fearful in a losing position.
  • #6,483
  • Aug 17, 2012 2:27am Aug 17, 2012 2:27am
Quoting KiNgEdwarD
the best feeling in forex is when you buy a currency and someone told its value will fall soon...
It doesn't mean that you shouldn't long it, every technical indicator on the H1 chart shows buying signals, stochastic is below 20, RSI is below 30, not to mention the weekly support level. Opportunities are always present at any moment and at any given trend. IMHO your long price is considered a good price as long as your risk/reward ratio is good, but if I were you I wouldn't hold it for long term.......
  • #6,484
  • Aug 17, 2012 2:34am Aug 17, 2012 2:34am
i am not taking the long here yet, 1.0436 , i may miss it. but i look for 1.0400 7at least. seems weak still.
  • #6,485
  • Aug 17, 2012 2:41am Aug 17, 2012 2:41am
Quoting 5percent
i am not taking the long here yet, 1.0436 , i may miss it. but i look for 1.0400 7at least. seems weak still.
I think so.
  • #6,486
  • Aug 17, 2012 2:41am Aug 17, 2012 2:41am
Quoting 5percent
i am not taking the long here yet, 1.0436 , i may miss it. but i look for 1.0400 7at least. seems weak still.
I agree. Was really wanting to long at 1.0440 but need convincing. Watching this next test.
  • #6,487
  • Aug 17, 2012 2:44am Aug 17, 2012 2:44am
Quoting KiNgEdwarD
a confusing question is why aud is down,,,,means which factors make it fall?can someone explain?
3 things mostly make a currency value. its always comparable to the other at a given moment in time. those 3 are banking, manufacturing or commodities. aud is a commodity based currency.. it commodities fall or perceived to fall then the currency should fall if all =. take for instance the ez.. commodities very little. banking on the death watch. manufacturing Germany..
trade balance in manufacturing is a big deal. the u.s. has lowered that trajectory in recent times.

as for as the aud.. you got hundreds if not thousands of ships full of aud iron moored around China with no place to unload. if i was trading this i would be short.. but i am not bright enough to do this.. so i am long at support in this nail biter with a s/l to protect me. with the 07xx target. and on the edge of a s/o.. the way i like it. no thinking, in or out. 11 days to set up.. and a few minutes to take me out. or $$$$
those who can, do. those who cant, talk about those who can
  • #6,488
  • Aug 17, 2012 2:46am Aug 17, 2012 2:46am
How far is this decline going to last? I thought 1.0434 will be THE support.
Any other guesses?

Cheers
  • #6,489
  • Aug 17, 2012 2:47am Aug 17, 2012 2:47am
Quoting 5percent
i am not taking the long here yet, 1.0436 , i may miss it. but i look for 1.0400 7at least. seems weak still.
Got my shorts set 10400

What happened to the 10600
  • #6,490
  • Aug 17, 2012 2:47am Aug 17, 2012 2:47am
Quoting gatorinla
3 things mostly make a currency value. its always comparable to the other at a given moment in time. those 3 are banking, manufacturing or commodities. aud is a commodity based currency.. it commodities fall or perceived to fall then the currency should fall if all =. take for instance the ez.. commodities very little. banking on the death watch. manufacturing Germany..
trade balance in manufacturing is a big deal. the u.s. has lowered that trajectory in recent times.

as for as the aud.. you got hundreds if not thousands of ships full of...
thank you boss
Sometimes it's better to be wrong,to learn..
  • #6,491
  • Aug 17, 2012 2:49am Aug 17, 2012 2:49am
Quoting gatorinla
i would wait for 1936.8 min.. your near the 50% mark to it at 1855.. hold on we did have a 1846 one i think
thank you. yes i want 1930 too

where do you come up with these precise numbers? (pipettes?? thats as precise as it gets)
Be hopeful in a winning position, and fearful in a losing position.
  • #6,492
  • Aug 17, 2012 2:49am Aug 17, 2012 2:49am
Quoting DonL
I agree. Was really wanting to long at 1.0440 but need convincing. Watching this next test.
so what do you wait for? at 40 with a stop below 37.. you risk less then 5.. and if you wait for a candle or your indies the risk will be greater then 5.
those who can, do. those who cant, talk about those who can
  • #6,493
  • Aug 17, 2012 2:52am Aug 17, 2012 2:52am
Quoting 5percent
i am not taking the long here yet, 1.0436 , i may miss it. but i look for 1.0400 7at least. seems weak still.
If 104.35 goes I'm looking for 103.00 area for next long

My eye sees a lot more than 104.35 so to be honest. Especially on the daily.
Be hopeful in a winning position, and fearful in a losing position.
  • #6,494
  • Aug 17, 2012 2:55am Aug 17, 2012 2:55am
bulls need 55 in the st w/o a LL to to target 68 and so on..st 38 is probably protected.. so we may not be back. if we do the st says LL.. but its just baby pa.. with little power.
those who can, do. those who cant, talk about those who can
  • #6,495
  • Aug 17, 2012 3:08am Aug 17, 2012 3:08am
I think the AUD will still drop, looks like the bears finally came in, going on a reversal right on the point where it is expected rarely seems to work, I'm guessing there's still noise traders that jump in late and push it further before the big boys come in and get in cheap on the reversal
  • #6,496
  • Aug 17, 2012 3:10am Aug 17, 2012 3:10am
Quoting 5percent
i am not taking the long here yet, 1.0436 , i may miss it. but i look for 1.0400 7at least. seems weak still.
As mentioned earlier, have to wait for a proper break through / HH HL at least on a lower time frame to go for long….

Regards,
FX-Pro
  • #6,497
  • Aug 17, 2012 3:12am Aug 17, 2012 3:12am
Quoting banana
I think the AUD will still drop, looks like the bears finally came in, going on a reversal right on the point where it is expected rarely seems to work, I'm guessing there's still noise traders that jump in late and push it further before the big boys come in and get in cheap on the reversal
if it breaks support.. i will not sell until it bounces north after b/o.. .0510 +
those who can, do. those who cant, talk about those who can
  • #6,498
  • Aug 17, 2012 3:24am Aug 17, 2012 3:24am
FUDGE. I just got back from been out shopping to find my shorts in profit of 50+ pipies.... thanks to who ever called a short hours ago, I love you long time
  • #6,499
  • Aug 17, 2012 3:34am Aug 17, 2012 3:34am
Quoting Daytrader74
FUDGE. I just got back from been out shopping to find my shorts in profit of 50+ pipies.... thanks to who ever called a short hours ago, I love you long time
Glad to hear that. I was wondering if you were out all day taking a big dump lol!
  • #6,500
  • Aug 17, 2012 3:50am Aug 17, 2012 3:50am
If the daily TL holds, we might see a bounce from the 1.0425-435 area..
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