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AUD/USD

  • #51,621
  • Aug 20, 2012 8:39pm Aug 20, 2012 8:39pm
Quoting mohan76
market like news release and love to react for repeats news
(but you might see few stuff)
see market never disappoint
Mohan
  • #51,622
  • Aug 20, 2012 8:52pm Aug 20, 2012 8:52pm
Quoting Chillypiper
Thanks for your veiw Bro! You may be right looking to see 04668 then 05111 4hr close above 04333/38 gives a good chance me thinks.
Took some lastnight @ 4668 ( now is S) and again after news with new channle forming. I may get my wish..
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  • #51,623
  • Aug 20, 2012 9:34pm Aug 20, 2012 9:34pm
Quoting ForExtraPips
That's why I'm in no rush. 50% retracement trading. Taking the swing low on 6-01-12 and the swing high on 08-09-12. I'm treating trading as a marathon, and not a sprint.
Agreed...That is pretty good way of trading rather than spending on "no man's land".

I am biased weekly down.Because of bearish engulfing candle formed last week.I am waiting for price to retrace to 1.05 which will be 50% retrace of previous bar.I am expecting a pin bar or bearish engulfing bar at 50% fib..so that i can start adding my positions.

Your way of trading is conservative.You will loose less and win more pips.
Risk/reward ratio is high.

All the best...
Cheers....
I am a hunter...i kill both bulls and bears...
  • #51,624
  • Aug 20, 2012 9:48pm Aug 20, 2012 9:48pm
Quoting oathbreaker
Agreed...That is pretty good way of trading rather than spending on "no man's land".

I am biased weekly down.Because of bearish engulfing candle formed last week.I am waiting for price to retrace to 1.05 which will be 50% retrace of previous bar.I am expecting a pin bar or bearish engulfing bar at 50% fib..so that i can start adding my positions.

Your way of trading is conservative.You will loose less and win more pips.
Risk/reward ratio is high.

All the best...
Cheers....
Thanks. After reading up on Gann, and this whole, "where price meets time" type of trading, I'm amazed at how price goes in a 360 degree circle, type thing. After squaring this pair, the chart was screaming at me to go short, long term. Now I can stray away from the E/U, which is all that I've been trading for over a year. I'm finding 50% retracement trading much less stressful. And yes, the first thing that I look at is R:R ratio. It has to be at least 1:4 for me. That way, I only need to be right one out of four times, and still be profitable.

All the best with you, too.
Time turns trend. - W.D. Gann
  • #51,625
  • Aug 20, 2012 9:58pm Aug 20, 2012 9:58pm
Quoting ForExtraPips
short @ 1.04413
sl @ 1.05385
tp @ 1.00967

Long term trade. Taking profit by the end of September.
How do you do that? Calculate a SL and TP up to 1/10th of a pip?
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  • #51,626
  • Aug 20, 2012 10:45pm Aug 20, 2012 10:45pm
Quoting KillerWhale
How do you do that? Calculate a SL and TP up to 1/10th of a pip?
By squaring price from a swing high and a swing low. My last two trades on the E/U, I missed my tp by two pips. I need to start leaving a few pips on the table, instead of trying to squeeze every single pip out of a trade.
Time turns trend. - W.D. Gann
  • #51,627
  • Aug 20, 2012 11:14pm Aug 20, 2012 11:14pm
Quoting ForExtraPips
By squaring price from a swing high and a swing low. My last two trades on the E/U, I missed my tp by two pips. I need to start leaving a few pips on the table, instead of trying to squeeze every single pip out of a trade.
That's what I was trying to say
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  • #51,628
  • Aug 21, 2012 1:38am Aug 21, 2012 1:38am
Hello all,

It has been a nice move AUD staged here and I am not surprised as RSI was oversold on most of the TF's. I am about ready to put the final leg of the Short AUD (/6a) on in a bit as last weeks setup of ABC pattern is starting to materialize again. We have exceeded the 88.6% retrace so the next logical level would be 1.05/0508.

I am still waiting for Dollar (82.36) to bottom here as It has broken through a two week support line and now looks to trade back to 8/14 low of (82.305) We are at the very low of the dollar channel here and I will put in my last long on this position once we stabilize.

Here is the level for the final leg of the AUD short heading into Sept. 1
Sell Stop: 1.0470
Sell Limit : 1.05 & 1.0508
I am under water on the short so far about (4150) but like I mentioned last week this was going to be a short heading into Sept once we get a hold on QE3 again and risk starts to unwind into Sept. I do have a stop loss and it is 1.06
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  • #51,629
  • Aug 21, 2012 1:45am Aug 21, 2012 1:45am
Here is the Dollar at the moment and it is still trying to find a solid floor. I will be buying at 82.60 or 82.21 whichever comes first. Given the announcement at Jackson hole if they do not come out with QE which is the whole premise for my Long Dollar futures Short Australian Dollar futures then this setup R:R will be amazing considering we could very easily drift towards the Hi of the year by election time.

However If I am wrong well we can see a nice gap down to 81.30 in one day...

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  • #51,630
  • Aug 21, 2012 2:36am Aug 21, 2012 2:36am
Seems the up-trend is still strong. 4H down channel broke. It may reach 1.07 if it closes above 1.05 today. We'll see.
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  • #51,631
  • Aug 21, 2012 3:02am Aug 21, 2012 3:02am
Completely filled on both Long/Dollar Short/Australian dollar.
Long Dollar: 20contracts@ 82.51
Short AUD futures: 12contracts@ 1.0437
Long Euro Futures: 2contracts@ 1.2314

Obviously the Euro long is not making up for the unrealized loss I currently have on dollar/aud but this was a swing play and to cut losses as I assumed that we would rebound somewhat on aud.

Now comes the waiting game heading into Jackson hole (11days). In the meantime I will swing intraday on EUR and maybe some option plays but My main short AUD and Dollar will stay on until the thesis of the trade is proved correctly or incorrectly in 11 days or I get stopped out.
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  • #51,632
  • Aug 21, 2012 3:03am Aug 21, 2012 3:03am
Forexgogo that is concerning we will see indeed if 1.05 holds or we close below by NY close
  • #51,633
  • Aug 21, 2012 3:16am Aug 21, 2012 3:16am
Attached Image (click to enlarge)
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  • #51,634
  • Aug 21, 2012 3:25am Aug 21, 2012 3:25am
Quoting SlyQsx
Attachment
I like it!
  • #51,635
  • Aug 21, 2012 3:26am Aug 21, 2012 3:26am
Looking to short near 1.0528
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  • #51,636
  • Aug 21, 2012 3:51am Aug 21, 2012 3:51am
Quoting SlyQsx
Attachment



I also enjoy this chart. I might even adjust the stops to fit this metric. Thank you for pointing out this more macro move.
  • #51,637
  • Aug 21, 2012 4:14am Aug 21, 2012 4:14am
Every time-resolution shows an uptrend I would not go short whatsoever
  • #51,638
  • Aug 21, 2012 5:41am Aug 21, 2012 5:41am
how are the Aussie shorts doing?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #51,639
  • Aug 21, 2012 5:42am Aug 21, 2012 5:42am
Why O Why do you have faith in the USD?????????????????


Quoting jplazard
Completely filled on both Long/Dollar Short/Australian dollar.
Long Dollar: 20contracts@ 82.51
Short AUD futures: 12contracts@ 1.0437
Long Euro Futures: 2contracts@ 1.2314

Obviously the Euro long is not making up for the unrealized loss I currently have on dollar/aud but this was a swing play and to cut losses as I assumed that we would rebound somewhat on aud.

Now comes the waiting game heading into Jackson hole (11days). In the meantime I will swing intraday on EUR and maybe some option plays but My main short AUD and Dollar will stay...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #51,640
  • Aug 21, 2012 5:59am Aug 21, 2012 5:59am
Quoting XTrade
Why O Why do you have faith in the USD?????????????????
...Because you don't? Sometimes its good for different opinions. I bet you're not right 100% time pal. Oh, and don't give me all that bull about 'how you've grown you're account 200%/month for the past year'...
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