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AUD/USD

  • #57,801
  • Apr 17, 2013 6:10pm Apr 17, 2013 6:10pm
Well the chart is telling me there is more to fall. But first it needs to head up around 1.0420 or close too, before saying goodbye and dropping . It will first test the bottom of 1.0150 and probably the weekly support line at the same time. This support will not hold then it will sail through parity and into the 90's. This is based on the strong selling over the last 2 days, the gold sell off, the descending H&S on the 1H and the fact it got such a strong rejection from the 1.0600 tops. I will base my trading around this plan over the next week or so and see how we go.
  • #57,802
  • Apr 17, 2013 8:47pm Apr 17, 2013 8:47pm
Imo even if audusd finished its 5th elliot wave, it shouldn't be straight down. Normally its abc correction. Probably a triangle imo. Bought another micro lot @ 1.0275.
  • #57,803
  • Apr 17, 2013 10:05pm Apr 17, 2013 10:05pm
Quoting feather
Well the chart is telling me there is more to fall. But first it needs to head up around 1.0420 or close too, before saying goodbye and dropping . It will first test the bottom of 1.0150 and probably the weekly support line at the same time. This support will not hold then it will sail through parity and into the 90's. This is based on the strong selling over the last 2 days, the gold sell off, the descending H&S on the 1H and the fact it got such a strong rejection from the 1.0600 tops. I will base my trading around this plan over the...
Lower lows on daily, 5h, 1h mean I agree that we are likely to see price go lower. I don't see anything that supports price getting to 1.0420 before dropping (that would be a higher high on daily) & think it's a huge call to say that 9 months of support will be broken so easily before even getting to parity.

Agree with Iro that price won't be a straight fall. I'm at least happy that we are seeing a bit of increased volatility - it means swaps are less of a factor.
Hope for the best, prepare for the worst.
  • #57,804
  • Apr 17, 2013 10:29pm Apr 17, 2013 10:29pm
Take a look at the Pound chart at January and tell me what you see. Yes seems like maybe it could be the same scenario for AUD. The Pound made a HH but continued down, just need to stand back and look at the screen to see the bigger picture. I have a descending line from the top of 1.0570 which is where I get 1.0420. I know it seems unlikely now but never say never. 9 months of support will break at some stage and this coming bear run will break it IMO may take a few weeks month but it will get through. Anyway thats what I'm thinking.

Quoting dab
Lower lows on daily, 5h, 1h mean I agree that we are likely to see price go lower. I don't see anything that supports price getting to 1.0420 before dropping (that would be a higher high on daily) & think it's a huge call to say that 9 months of support will be broken so easily before even getting to parity. Agree with Iro that price won't be a straight fall. I'm at least happy that we are seeing a bit of increased volatility - it means swaps are less of a factor.
  • #57,805
  • Apr 17, 2013 11:51pm Apr 17, 2013 11:51pm
Quoting feather
Take a look at the Pound chart at January and tell me what you see. Yes seems like maybe it could be the same scenario for AUD. The Pound made a HH but continued down, just need to stand back and look at the screen to see the bigger picture. I have a descending line from the top of 1.0570 which is where I get 1.0420. I know it seems unlikely now but never say never. 9 months of support will break at some stage and this coming bear run will break it IMO may take a few weeks month but it will get through. Anyway thats what I'm thinking.
On GBP/USD daily I do see a higher high and then a drop but that's from an area that is at top of the range on a weekly chart. You are talking about price dropping after a higher high on daily from 200 pips below top of recent range.

I didn't mention never - almost anything is possible in FX. It's more about playing the percentages & managing risk. If you do both of those you should be fine.
Hope for the best, prepare for the worst.
  • #57,806
  • Apr 18, 2013 2:42am Apr 18, 2013 2:42am
We visited just under 1.04 yesterday, there is no reason for it to make a HH

4H Chart, a visit to 1.034 would be normal. I'll be adding more shorts at/above this price, looking for under a buck
  • #57,807
  • Apr 19, 2013 1:48am Apr 19, 2013 1:48am
Took 2/3 off here @ 1.0352 for 64 pips. Want to close off some risk before Friday.
  • #57,808
  • Apr 21, 2013 7:57am Apr 21, 2013 7:57am
1.0225 next major support level
  • #57,809
  • Edited Apr 22, 2013 2:30am Apr 21, 2013 8:01pm | Edited Apr 22, 2013 2:30am
Bought b again @ 1.0275.

Edit: setting to be. ABC correction seems to have finished. Now its either a break up or down.
  • #57,810
  • Apr 21, 2013 9:59pm Apr 21, 2013 9:59pm
I do not have a chart with me, but I'm short AUD/USD from around these levels targeting 1.02000 first and 1.0100 as a second trgt.
  • #57,811
  • Apr 22, 2013 9:02am Apr 22, 2013 9:02am
I agree. For me the target is much lower.

Quoting Emanuel
I do not have a chart with me, but I'm short AUD/USD from around these levels targeting 1.02000 first and 1.0100 as a second trgt.
  • #57,812
  • Apr 22, 2013 10:05am Apr 22, 2013 10:05am
I am long from 1.03 1.027 1.025 1.024
Let's see if I can conclude with profits! All the best!
  • #57,813
  • Apr 22, 2013 10:31am Apr 22, 2013 10:31am
Quoting namitak007
I am long from 1.03 1.027 1.025 1.024 Let's see if I can conclude with profits! All the best!
Longed 1.0248 take profit today after CNY PMI
Trade according to current market condition, not what you think would be.
  • #57,814
  • Apr 22, 2013 10:33am Apr 22, 2013 10:33am
Hey people. Aussie short on: https://twitter.com/MrC_Forex/status...847488/photo/1

Will tweet my TPs tomorrow.

Good luck.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #57,815
  • Apr 23, 2013 12:51am Apr 23, 2013 12:51am
Quoting diggo
We visited just under 1.04 yesterday, there is no reason for it to make a HH 4H Chart, a visit to 1.034 would be normal. I'll be adding more shorts at/above this price, looking for under a buck
Still holding shorts from 1.038/1.034.

Took some off the table at 1.023. It seems we are due for a small retrace, hopefully back to 1.029 min.. however that may be wishful thinking. It seems the Euro will stop the Aussie from going much higher than this for now.

I'll be adding more shorts at/above this price (if we get there), still targeting below parity.
  • #57,816
  • Apr 23, 2013 1:04am Apr 23, 2013 1:04am
I do not know what is wrong nowadays
The fragrance remains in the hands of those that gves the rose
  • #57,817
  • Apr 23, 2013 2:19am Apr 23, 2013 2:19am
Quoting Mr.C
Hey people. Aussie short on: https://twitter.com/MrC_Forex/status...847488/photo/1 Will tweet my TPs tomorrow. Good luck.
As planned. Added TPs in my Twitter. Good luck traders - green pips to all!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #57,818
  • Apr 23, 2013 3:24am Apr 23, 2013 3:24am
Quoting Mr.C
{quote} As planned. Added TPs in my Twitter. Good luck traders - green pips to all!
Please excuse my ignorance as I'm not on Twitter but from the original link I can not see any targets added.
Hope for the best, prepare for the worst.
  • #57,819
  • Apr 23, 2013 4:01am Apr 23, 2013 4:01am
Quoting diggo
{quote} Still holding shorts from 1.038/1.034. Took some off the table at 1.023. It seems we are due for a small retrace, hopefully back to 1.029 min.. however that may be wishful thinking. It seems the Euro will stop the Aussie from going much higher than this for now. I'll be adding more shorts at/above this price (if we get there), still targeting below parity.

Agree. I am looking even below. Around 1.0100
  • #57,820
  • Apr 23, 2013 4:08am Apr 23, 2013 4:08am
Quoting Alanamc
{quote} Agree. I am looking even below. Around 1.0100
im still hold my posistion long at 10300.
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