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AUD/USD

  • #58,801
  • Jun 6, 2013 1:45am Jun 6, 2013 1:45am
Aussie is definitely not overvalued. The market doesn't fancy Aussie at this moment but the trend shall reverse in the next coming weeks. Watch out.
  • #58,802
  • Jun 6, 2013 2:03am Jun 6, 2013 2:03am
Quoting FortuneRider
Aussie is definitely not overvalued. The market doesn't fancy Aussie at this moment but the trend shall reverse in the next coming weeks. Watch out.
Doesn't every trend reverse at some point or another?
When the facts change I change my mind, what do you do sir
  • #58,803
  • Jun 6, 2013 3:12am Jun 6, 2013 3:12am
Quoting 50 Fils
I'm taking the loss, the down trend seems to continue ... I will get out and look for a good place for reentry!
so we have hit the bottom now you have exit

It takes a lot for me to IGNORE you, but you can try.
  • #58,804
  • Jun 6, 2013 3:56am Jun 6, 2013 3:56am
Quoting Erebus
{quote} so we have hit the bottom now you have exit
The pair is still trending in a down channel on the 1HR time frame .... It will continue going south!!
  • #58,805
  • Jun 6, 2013 3:57am Jun 6, 2013 3:57am
Well, I believe the aussie will try to go for previous high support level (around 0.9380 level) before we can start seeing some reversal coming along the way.
Knowledge is powerful tool that we can ever have.
  • #58,806
  • Jun 6, 2013 5:28am Jun 6, 2013 5:28am
Quoting namitak007
{quote} well yes, that was a risky entry. I was not sure if you gonna make it green but anyways there are plenty of opportunities to bank more. Again I am not sure about your SL. I too expect a bounce of 100 pips from here around .955x but not sure if London make it to touch .938x or even below.
Normal bear bounce is higher than that.. 0.961x
  • #58,807
  • Jun 6, 2013 5:33am Jun 6, 2013 5:33am
Quoting diggo
{quote} Normal bear bounce is higher than that.. 0.961x

yup maybe. But for me 100-150 pips bounce is enough to load short on this pair for last couple of weeks!
  • #58,808
  • Jun 6, 2013 5:36am Jun 6, 2013 5:36am
Quoting diggo
{quote} Well the bastards got me. Took 1/4 off the table just above 9600 which paid for my SL at least. Looking for some more cheap seats now to ride the normal bounce. Anywhere down to the 2011 low (9387) is good r/r. Now is a good time to look. Void below 9387. Gator's large LM is at 9432. These can be strong. I've entered a medium term long @ 9436. 50 pip SL. You could have a 6 pip SL here. However I am not scalping. Normal bear target is still just above parity. So the normal bounce...
Bounced right off it. 6 pip SL with a potential 600 pip+ target. 1:100 r/r right there
  • #58,809
  • Jun 6, 2013 5:38am Jun 6, 2013 5:38am
Quoting namitak007
{quote} yup maybe. But for me 100-150 pips bounce is enough to load short on this pair for last couple of weeks!
Norm is norm.. Happens more times than not. Shorting below 0.961x is wasted pips IMO.. Doesn't mean it will reach there.. But it'll save you more in the long term
  • #58,810
  • Jun 6, 2013 5:48am Jun 6, 2013 5:48am
Quoting diggo
{quote} Norm is norm.. Happens more times than not. Shorting below 0.961x is wasted pips IMO.. Doesn't mean it will reach there.. But it'll save you more in the long term
Well I do enter with 0.2 lots. So always keep remaining to enter with difference of 50 pips. So I guess that's low risk+higher returns method for me.
  • #58,811
  • Jun 6, 2013 5:57am Jun 6, 2013 5:57am
added a long postion. AU pair ))
  • #58,812
  • Jun 6, 2013 6:05am Jun 6, 2013 6:05am
Quoting namitak007
{quote} Well I do enter with 0.2 lots. So always keep remaining to enter with difference of 50 pips. So I guess that's low risk+higher returns method for me.
why u selling at the demand zone ??? suicide...
  • #58,813
  • Jun 6, 2013 6:14am Jun 6, 2013 6:14am
Quoting tankokjian
{quote} why u selling at the demand zone ??? suicide...

Why you are buying in down trend? Double suicide!! lolz! just kidding! Well let me do my trading. If you do search my previous posts you will get to know my reasons. I am only considering buying if AU crosses .985 till then shorting on highs is my strategy. Till now more than 600 pips I have banked. Currently underwater in UJ (likely to close in red) except it no loss till now.
Each one have their own strategy, technique. I have my own. So it's no way good to point on someone's strategy because you think you are correct. It's forex. Everyone looks same chart with lots of different strategies! I wish both of us good luck. green pips!
  • #58,814
  • Jun 6, 2013 6:53am Jun 6, 2013 6:53am
good morning folks!! nothing like trading with rigid plan, without emotinons envolved, only automatic/pending trades..50% of time you will enter on right path on position from begginning and profit very soon, other 50% you will enter wrongly and you have to be patience and have to have margin to wait and be at breakeven, and since in that case you have higher lot size, with few pips above breakeven you will profit fast!

My case, as you can see in previous posts, I´ve oppened 0.2 at 9700 + 0.1 at 9650 + 0.1 at 9600 + 0.4 at 9500, making my Medium Price now at 9580...I have pending buy 0.8 at 9400, if reached there my medium price will be 9490...

0.1 lot
0.1 lot
0.2 lot
0.4 lot
0.8 lot
1.6 lot
3.2 lot...

most of trades blow in few months more than the money needed to have a strict automatic plan, because they are manipulated & doomed by emotions..
  • #58,815
  • Jun 6, 2013 7:08am Jun 6, 2013 7:08am
Ok, I´m liking this chart now, for first time we have a green candle!!
ok, time to put my Pending TP = 9630.

ps: do you recognize the pattern?? after a fall, we create a pinbar, and after we have to get a green candle!! that´s all we need!!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB
  • #58,816
  • Jun 6, 2013 7:10am Jun 6, 2013 7:10am
Quoting namitak007
{quote} why you are buying in down trend? Double suicide!! Lolz! :d :d just kidding! Well let me do my trading. If you do search my previous posts you will get to know my reasons. I am only considering buying if au crosses .985 till then shorting on highs is my strategy. Till now more than 600 pips i have banked. Currently underwater in uj (likely to close in red) except it no loss till now. Each one have their own strategy, technique. I have my own. So it's no way good to point on someone's strategy because you think you are correct. It's forex....
im buying on the pull back hopefully all made good pipps.
  • #58,817
  • Jun 6, 2013 7:12am Jun 6, 2013 7:12am
WILL THE 8.30 ECB Press Conference have a big impact on this pair or a double edged sword ???
  • #58,818
  • Jun 6, 2013 7:17am Jun 6, 2013 7:17am
Quoting xandi
Ok, I´m liking this chart now, for first time we have a green candle!! ok, time to put my Pending TP = 9630. {image}
TP is not bad,
what ive learned about this pair is,
everytime we break low, the distance from new low and previous low is approx 100pips..
and it retrace 61% from swing high..

if lucky, we will see 9655 before retest/trend continuation.
  • #58,819
  • Jun 6, 2013 7:55am Jun 6, 2013 7:55am
jobless claims missed estimates...why did the pair drop? confused..
can someone enlighten me pls?
  • #58,820
  • Jun 6, 2013 8:10am Jun 6, 2013 8:10am
Quoting Erebus
{quote} Good for you; I doubt whether that is the reason you got into that trade in the first place however, it is as good as excuse as any to avoid reality. World events around the time of the September 2011 low you are depending on have changed vastly; economies are different, interest rates are not the same; pinning your hopes on a mathematical number in the past makes little sense to me. IF only it was that easy, why didn't you wait until the low is reached, then go long? You know why? You can't see beyond very short term, got to be in a trade...
I know that is not that easy. But aren't all the chart patterns and trend lines formed by those random points? I learned that trend lines are important, i should ignore trend lines of longer times? They dont mean nothing?

I start trading 2 months ago, always learning BUT im having a problem that is, the more i know, more i need to look in different things. Trendlines, S123/R123 levels, RSI, Stoch, MACD, RSX, chart patterns, divergencies, news, forums opinions, etc. So many possibilities, im having difficult to figure what is really important to reach my goal.

I think trading without SL and trade against the major trend were my big mistakes until now. Will try to change that in the future.

Thank you for your comment and the book!
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