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AUD/USD

  • #58,981
  • Jun 9, 2013 5:33pm Jun 9, 2013 5:33pm
Quoting Davit
{quote} I suggest you to be neutral.Wait to see if 2011 9387 low breaks or holds.This is very dangerous zone.If breaks there is not much stopping price declining rather quickly. To me only course of action is long but at the right time. Regards
Dollar can go back down to 81 or move up to 82.4 in my view.
Play the players, not the cards.
  • #58,982
  • Jun 9, 2013 5:34pm Jun 9, 2013 5:34pm
Quoting bogus
{quote} Looks like a safe trade Ken
If it doesn't look good will end up as scalp - don't want to be a hero

Attached Image
  • #58,983
  • Jun 9, 2013 5:53pm Jun 9, 2013 5:53pm
Suddenly quiet no more arguing

Those who took the early risk either take the profit or take the hit - just can't see the point of arguing. Everyone has his own risk tolerance as simple as that.
  • #58,984
  • Jun 9, 2013 6:17pm Jun 9, 2013 6:17pm
hmm...even on holiday here, cannot leave this without long it..long at 9421, 0.2 Lot TP 9475, SL 9370 or pyramid
  • #58,985
  • Jun 9, 2013 6:20pm Jun 9, 2013 6:20pm
Quoting Ken A
Suddenly quiet no more arguing Those who took the early risk either take the profit or take the hit - just can't see the point of arguing. Everyone has his own risk tolerance as simple as that.
Agreed... personally I'm opposite everyone here: I can't fathom going long AUD at all, but I also see the point that it feels very hard to sell too.

I kept waiting for a solid correction last week to buy GBP/AUD and kept missing entries only to see it continue rallying. Finally, I just started jumping in as I'd rather be trading with the trend. It's looking pretty good right now.

The red horizontal lines I have on the chart are old highs and lows (from daily and weekly charts) where I've been expecting price to react. My next one is at about 1.6740 then 1.7051 after that. Plan is to take it all off at the first one and then start rebuying on shallow pullbacks for the 1.7050 target. In my opinion, it's very possible we see those prices this week.
Attached Image (click to enlarge)
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check out my blog: forexmademillionaire dot com
  • #58,986
  • Jun 9, 2013 6:32pm Jun 9, 2013 6:32pm
Quoting Geppy
{quote} Agreed... personally I'm opposite everyone here: I can't fathom going long AUD at all, but I also see the point that it feels very hard to sell too.

I kept waiting for a solid correction last week to buy GBP/AUD and kept missing entries only to see it continue rallying.

Finally, I just started jumping in as I'd rather be trading with the trend. It's looking pretty good right now. The red horizontal lines I have on the chart are old highs and lows (from daily and weekly charts) where I've been expecting price to react.

My next...
Excellent entries for G/A and is looking good. Carney might do something good for G/U after all.

Might attempt to sell A/U around 0.9506 Daily Pivot and 0.9550 Monthly Mid and Daily Mid.

Good job on G/A.
  • #58,987
  • Jun 9, 2013 6:39pm Jun 9, 2013 6:39pm
Quoting Ken A
{quote} Excellent entries for G/A and is looking good. Carney might do something good for G/U after all. Might attempt to sell A/U around 0.9506 Daily Pivot and 0.9550 Monthly Mid and Daily Mid. Good job on G/A.
Thanks dude. Honestly, the entries weren't that great. But... it's a no-brainer with this crazy trend. So it's just waiting for targets to materialize; can't say I like paying that damn swap!
check out my blog: forexmademillionaire dot com
  • #58,988
  • Jun 9, 2013 6:42pm Jun 9, 2013 6:42pm
Quoting xandi
hmm...even on holiday here, cannot leave this without long it..long at 9421, 0.2 Lot TP 9475, SL 9370 or pyramid
closed at 31..going to buy again lower...
  • #58,989
  • Jun 9, 2013 6:58pm Jun 9, 2013 6:58pm
longed 9424, some details as above
  • #58,990
  • Jun 9, 2013 7:01pm Jun 9, 2013 7:01pm
Quoting Pharm0r
Alright, I think we've covered the topic of pyramiding trades enough. Back to AUD discussion... We're dangerously close to forming new lows since 2011 which means a bull reversal could be soon. Currently there is a doji forming right on the mofu of the daily chart which suggests a reversal could be eminent. This is an extremely dangerous area, and I would advise not trading it until we can confirm a continuation BELOW the 2011 low, or a reversal. Right now the long term trend is bearish, but the short term is split....
Quoting Davit
{quote} In actuality we have another 100pips to go down at 9370 area to match 2011 low.If then it breaks then we might be looking all the way to 80 Its not panic time now. {image}
Quoting Davit
{quote} I suggest you to be neutral.Wait to see if 2011 9387 low breaks or holds.This is very dangerous zone.If breaks there is not much stopping price declining rather quickly. To me only course of action is long but at the right time. Regards

Good call Davit.
  • #58,991
  • Jun 9, 2013 7:06pm Jun 9, 2013 7:06pm
If you're long your first target should be 9481-9487 mofu.
  • #58,992
  • Jun 9, 2013 7:06pm Jun 9, 2013 7:06pm
Quoting xandi
longed 9424, some details as above
closed 39...will buy again lower
  • #58,993
  • Jun 9, 2013 7:15pm Jun 9, 2013 7:15pm
Use caution in the blue area. Good luck guys see yall tomorrow!
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  • #58,994
  • Jun 9, 2013 7:26pm Jun 9, 2013 7:26pm
Waiting a few more pips and I'll be out.
Play the players, not the cards.
  • #58,995
  • Jun 9, 2013 7:56pm Jun 9, 2013 7:56pm
Quoting Ken A
Keep in mind AUD/JPY has a very good potential to lift AUD/USD.
As far as I understand the market...

Only the majors effect the crosses, crosses do not effect majors

IE AUDUSD and USDJPY heavily effect AUDJPY but AUDJPY does not effect the US dollar.


Someone correct me if I am wrong...


edit: or i should say, the majors more heavily effect crosses than crosses do to majors

because most liquidity is in the majors (USD)
Be hopeful in a winning position, and fearful in a losing position.
  • #58,996
  • Jun 9, 2013 8:00pm Jun 9, 2013 8:00pm
Quoting Rag2RichesFX
{quote} As far as I understand the market... Only the majors effect the crosses, crosses do not effect majors IE AUDUSD and USDJPY heavily effect AUDJPY but AUDJPY does not effect the US dollar. Someone correct me if I am wrong... edit: or i should say, the majors more heavily effect crosses than crosses do to majors because most liquidity is placed into majors
Hi Rag2RichesFX,

Your Right.

AUD/JPY = rate of aud/usd x rate of usd/jpy and also due to speculation and volatility, the aud/jpy rate won't be exact as its not entirely pegged to aud/usd x usd/jpy, so it may be 100~200 pips different due to traders and volumes in aud/jpy.

Best Regards,
dormin
"be content with your pay" - John the Baptist
  • #58,997
  • Jun 9, 2013 8:43pm Jun 9, 2013 8:43pm
Quoting dormin
{quote} Hi Rag2RichesFX, Your Right. AUD/JPY = rate of aud/usd x rate of usd/jpy and also due to speculation and volatility, the aud/jpy rate won't be exact as its not entirely pegged to aud/usd x usd/jpy, so it may be 100~200 pips different due to traders and volumes in aud/jpy. Best Regards, dormin
AUDJPY is also a pretty good proxy for S&P
Attached Image (click to enlarge)
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When the facts change I change my mind, what do you do sir
  • #58,998
  • Jun 9, 2013 8:46pm Jun 9, 2013 8:46pm
Quoting Rag2RichesFX
{quote} As far as I understand the market... Only the majors effect the crosses, crosses do not effect majors IE AUDUSD and USDJPY heavily effect AUDJPY but AUDJPY does not effect the US dollar. Someone correct me if I am wrong...

edit: or i should say, the majors more heavily effect crosses than crosses do to majors because most liquidity is in the majors (USD)
AUD/USD x USD/JPY = AUD/JPY
AUD/JPY ÷ AUD/USD = USD/JPY
AUD/JPY ÷ USD/JPY = AUD/USD

It's free how we want to look at it If it's not correlated please ignore it
  • #58,999
  • Jun 9, 2013 9:22pm Jun 9, 2013 9:22pm
longed, 9440, same details, tp9475
  • #59,000
  • Jun 9, 2013 9:22pm Jun 9, 2013 9:22pm
Quoting xandi
longed, 9440
You have created volatility in thin market
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