AUD/USD

thanks heaps jplazard! Will look into over the weekend and look forward to hearing your further comments.

Food for thought: Midnight edition


The case for AUD/USD long into Friday open. Forget the news unless RBA COMES OUT AGAIN and just look at the chart.




http://www.forexfactory.com/showthre...81#post5933581


Here is the post I made last night after the NY open of where we could trade based of of ABC extension levels. We hit exactly at the 78.6% and sold off(WISH I took that short but I can’t catch everyone). Now look where the Next weekly ABC is on the downtrend I drew this yesterday as well and we are exactly at these levels. Remember everyone even though the news and market points down unless you’re scared that a currency will have a Lehman brother’s type fall the market ALWAYS MOVES IN WAVES.

First long was taken at 1.0550 I have now increased my short to +7 contracts. For those who want better confirmation stick to your plan and trade what makes you comfortable. For those who don’t want to scramble and wait for the pictures come NY open, start picking your long or shorts here at these levels. Don’t get caught at the open with added stress of which way I should go and where are the S/R levels decide now and have confidence in yourself as a trader.

The 100th correction I have made this week lol (just thinking about sleeping all day Saturday too long of a week) from the post above

when I said short I am actually long now +7

Long @ +7contracts 1.0450 heading into NY open. Now off to youtube where I will watch some funny OWS videos and check dollar levels. See you in a bit fellow capitalist

Dollar futures chart below. We just bounced off a 2week support line. I TOOK a long here as a hedge just in case my AUD/USD long purges to my stop loss of 1.0420. The way that it is structured is

AUD Short future contract .0001= 10$ * 7= $70 a tick move each way
http://www.cmegroup.com/trading/fx/g...fications.html

Dollar Long future contract .005=$5 *7= $35 per tick
https://www.theice.com/productguide/...tml?specId=194


So as you can see I am still long biased on AUD/USD as the $/per tickorPIP is larger than Dollar short but I am only worried about dollar maintaining this level if it breaks the 2week support and closes on an hourly than I will close the hedge and continue long AUD well into US trading.

Where can we get live charts on some of those? I mean real time.

Nice reversal pattern. Waiting for some work at support and then a break down. Selling below 1.0435. The next stop would be at 1.0300 area. (Major support).

If your talking about the COT positioning report it is really not possible to get that real time as it only is released every Friday on their CFTC.gov site. I have a neural network study of EUR, AUD, Dollar COT positioning and Options combined on a excel spreadsheet that always runs what-ifs and compares averages of increases/decreases in size, traders involed ect ect...


I will check my many(too many) memory sticks and find the original Excel sheet where the data going back to 1995 is on and you can manipulate and compare backtesting on it. I will warn you that it is a laggard of a laggard indicator most of the times, only when the positioning is at extreme levels do you want to compare historical averages and watch the numbers more closely.

Stopped out took a (2580 loss) but these pikers look to be stop hunting I will wait for another entry come NY. Still long Dollar at 82.44 which should make up for most of the loss if we trade upwards today in NY

Where is it heading? north? south? could go either direction

Nice chart what's that Green MA you have 200?

Anybody checking E/A it's at the upper channel pronefor a possible breakout above (1.18557) this will be one of the last nails in the coffin for AUD/USD if we break above and close above.

I was stopped out of my Long AUD/USD but if we fail to break above in the first hour or two in NY on E/A i will re initiate my long AUD/USD at 1.0450

EMA200. I would go long for 25 pip if the price bounces at the EMA200 on 1H chart.

I see.Thank you I enjoy seeing some others charts and their perspective. As they say the person that only owns one book is the person you need to worry about

I have a gelling that last move down was stop hunting for NY and technically my stop did not even get hit I got out early. 1.04235 was my low (mistake #4this week not sticking to your stops and take profits and getting scared out of a position)

Buy Stop set for 5contract at 1.0447

Felling* this is just getting sad at this point.

Feeling
haha alright I'm done trolling just bored waiting for NY open

http://www.forexfactory.com/news.php?do=news&id=379402

Why this news isn't in the calendar??

buy stop moved lower to 1.0440 stop at 1.0418

What do you mean on the calendar it was on the side bar for news?

Correction -- it's EMA800 on 1H (=200EMA 4H). Sorry