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AUD/USD

  • #57,341
  • Jan 9, 2013 7:27pm Jan 9, 2013 7:27pm
Quoting Zircon
Yes i think still some bull strengths??
Major TL being tested at this time. A weekly close above 1.055 should send AUD/USD up to 1.08. It's looking like this will be the most probable move in the short term.

1st Chart - Weekly
2nd Chart - Daily
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD - Weekly (1-9).jpg Size: 142 KB
Click to Enlarge Name: AUDUSD - Daily (1-9).jpg Size: 137 KB
  • #57,342
  • Jan 9, 2013 7:28pm Jan 9, 2013 7:28pm
Quoting Zircon
Yes i think still some bull strengths??
If Draghi hinted anything about rate cut, AUD/USD might spike up from shorting EUR/AUD.
  • #57,343
  • Jan 9, 2013 9:36pm Jan 9, 2013 9:36pm
Quoting 100PipsADay
Major TL being tested at this time. A weekly close above 1.055 should send AUD/USD up to 1.08. It's looking like this will be the most probable move in the short term.

1st Chart - Weekly
2nd Chart - Daily


Agree,

Careful! wild bulls .???

i can not trade it.
Attached Image (click to enlarge)
Click to Enlarge Name: ozie.gif Size: 15 KB
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #57,344
  • Jan 9, 2013 9:39pm Jan 9, 2013 9:39pm
Quoting Ken A
If Draghi hinted anything about rate cut, AUD/USD might spike up from shorting EUR/AUD.
yes could be.
I think euro has to go somewhere down, before .
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #57,345
  • Jan 9, 2013 10:05pm Jan 9, 2013 10:05pm
approaching 1.06x major resistance. its been quite choppy so far, good for scalping only
  • #57,346
  • Jan 9, 2013 10:54pm Jan 9, 2013 10:54pm
Quoting 100PipsADay
Actually look at countries such as Japan. Their currency is a direct inverse correlation of their stock market, which is why recently as the JPY has weakened their stocks have had their best performance in (i believe) 20 years or so!

If you are thinking that Australia's stock market will rally then I wouldn't be surprised to see the AUD weaken significantly.

Anyways, just put in another HEAVY short at 1.05

1st Target: 1.015
And I still say 1.10 gets there first

those shorts be real heavy today for sure
It takes a lot for me to IGNORE you, but you can try.
  • #57,347
  • Jan 9, 2013 11:25pm Jan 9, 2013 11:25pm
Quoting Erebus
And I still say 1.10 gets there first

those shorts be real heavy today for sure
Good for you. Hope you are actually making money off of your trade idea...

Do you have any long positions at this time? If so, what was your entry point? What is your SL and TP? It's one thing to say one thing (especially in hindsight) but if you aren't actually trading that is a completely different story.

Also, what happens if it doesn't reach 1.10? Curious to hear your analysis coupled with some charts and projected time frame along with trading style. Thanks!
  • #57,348
  • Jan 10, 2013 12:21am Jan 10, 2013 12:21am
Quoting Erebus
And I still say 1.10 gets there first

those shorts be real heavy today for sure
i am not convinced. without some sizzling fundamental news, nope.

aud waste of time. edit : and money
  • #57,349
  • Jan 10, 2013 12:31am Jan 10, 2013 12:31am
Actually, with the current EUR situation, the EUR-AUD is my preferred trade for long term.

Here are some charts with pretty colors and moving averages, that's all I have to say

Attached Image(s) (click to enlarge)
Click to Enlarge Name: 0011.jpg Size: 103 KB
Click to Enlarge Name: 0012.jpg Size: 129 KB
It takes a lot for me to IGNORE you, but you can try.
  • #57,350
  • Jan 10, 2013 12:36am Jan 10, 2013 12:36am
Quoting Erebus
Actually, with the current EUR situation, the EUR-AUD is my preferred trade for long term.

Here are some charts with pretty colors and moving averages, that's all I have to say

I also got short earlier today on EUR/AUD. Shorted at 1.243 targeting 1.216 first. If broken then 1.16 again.
  • #57,351
  • Jan 10, 2013 1:09am Jan 10, 2013 1:09am
http://i50.tinypic.com/28i2kg8.jpg

I have taken a look at AUDUSD today. The support/resistance is clearly defined on the 4hr chart. As i mentioned before, bank traders do their buying and selling at support/resistance zones. This is their trail they leave behind. Much like aircraft carriers leaving a large wake in the oceans when they turn.

As retail traders, our job is to make money from the bank traders. So they buy, we buy. They sell, we sell. Through S/R levels, we see that they buy at certain levels. We will then buy again at the same levels if prices retraces to that level. Vice versa for selling.

http://i46.tinypic.com/2vcetkw.png
  • #57,352
  • Jan 10, 2013 1:19am Jan 10, 2013 1:19am
Quoting ForexMGames
http://i50.tinypic.com/28i2kg8.jpg

I have taken a look at AUDUSD today. The support/resistance is clearly defined on the 4hr chart. As i mentioned before, bank traders do their buying and selling at support/resistance zones. This is their trail they leave behind. Much like aircraft carriers leaving a large wake in the oceans when they turn.

As retail traders, our job is to make money from the bank traders. So they buy, we buy. They sell, we sell. Through S/R levels, we see that they buy at certain levels. We will then buy again...
I agree with you 100%. Watching Price Action (candle formation) at major support / resistance levels tells us whether we should be buying or selling. The larger the time frame the more significance price action and S/R levels have.
  • #57,353
  • Jan 10, 2013 2:09am Jan 10, 2013 2:09am
Quoting 100PipsADay
I agree with you 100%. Watching Price Action (candle formation) at major support / resistance levels tells us whether we should be buying or selling. The larger the time frame the more significance price action and S/R levels have.
After reminders on the AUDUSD opportunitie from experts I opened a buy stop position at 1.0530 with TP at 10575, SL 1.0420, last afternoon (12.01.09. CET). This morning 1st I moved my stop to zero than closed the position on 1.0562 (could not stand to look anymore the too long have been shaking the price at that zone. Well, 32 PIP is not a big deal but better than a slap on the face.
  • #57,354
  • Jan 10, 2013 2:57am Jan 10, 2013 2:57am
Quoting Robert Feher
After reminders on the AUDUSD opportunitie from experts I opened a buy stop position at 1.0530 with TP at 10575, SL 1.0420, last afternoon (12.01.09. CET). This morning 1st I moved my stop to zero than closed the position on 1.0562 (could not stand to look anymore the too long have been shaking the price at that zone. Well, 32 PIP is not a big deal but better than a slap on the face.
Any amount of green pips is a good trade! Good job Robert
  • #57,355
  • Jan 10, 2013 4:03am Jan 10, 2013 4:03am
Chinese trade balance figure moved the Aussie today, details in my blog below.
  • #57,356
  • Jan 10, 2013 1:08pm Jan 10, 2013 1:08pm
Quoting sidhujag
audusd should now resume upwards... gold hit its target at 1716 and bounced.
This post was from oct last year.


and up we go where it stops nobody knows!
  • #57,357
  • Jan 10, 2013 1:11pm Jan 10, 2013 1:11pm
I have been taught many times that the 4th time it tries to break (either top or bottom) is has a high percentile chance of success

http://i.imgur.com/yIZQg.png

http://i.imgur.com/XV4Hu.png

http://i.imgur.com/581mF.png
  • #57,358
  • Jan 10, 2013 1:20pm Jan 10, 2013 1:20pm
Quoting Compulsive
I have been taught many times that the 4th time it tries to break (either top or bottom) is has a high percentile chance of success
I completely agree, have also heard this before many times. When back tested you can see that this is the truth most of the time. This is partially why I closed out my AUD and NZD shorts.
  • #57,359
  • Jan 10, 2013 1:30pm Jan 10, 2013 1:30pm
I have had a bias to the short side of the Aussie Dollar for weeks and take every short signal I get. Most have been small losers, one bright green fall around Xmas time which was most welcome. My main reason is the extreme long positioning in this contract. All the numbers I see from the CME or individual bank's sentiment measures point to everyone being on one side of the boat. Unfortunately this condition can continue for weeks / months. However one thing I do know is I will not join them. I would rather be flat and wait for the next good sell set up. I am so bullish on China that my stance in the AUD is annoyng for me. I remain patient for the next left feild event to cause an great un-wind and into that major sell of I wil fill my boots on the long side of the Chines Dollar ( I mean AUD). Just my two cents worth in case anyone has any feedback.
  • #57,360
  • Jan 10, 2013 1:35pm Jan 10, 2013 1:35pm
Quoting Hyperion
I have had a bias to the short side of the Aussie Dollar for weeks and take every short signal I get. Most have been small losers, one bright green fall around Xmas time which was most welcome. My main reason is the extreme long positioning in this contract. All the numbers I see from the CME or individual bank's sentiment measures point to everyone being on one side of the boat. Unfortunately this condition can continue for weeks / months. However one thing I do know is I will not join them. I would rather be flat and wait for the next good sell...
I will also not long AUD/USD for the time being. Instead I am playing AUD/JPY (long) and have now opened up a few EUR/AUD short positions.

EUR/AUD - D1 MACD downtrend so I will buy on the pullbacks when H1 is showing "overbought" using Williams %. Next support on weekly is 1.216.

AUD/JPY - D1 and Weekly MACD Uptrend so I will be buying pullbacks when H1 is showing "oversold" using Williams %. Next resistance on weekly is 96, however, I see much more room to the upside considering the situation with the JPY.
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