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AUD/USD

  • #61,241
  • Aug 1, 2013 11:21am Aug 1, 2013 11:21am
enter long .8917 tp 300-500 pips.
stil po 889x
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  • #61,242
  • Aug 1, 2013 11:57am Aug 1, 2013 11:57am
How low can you go?
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  • #61,243
  • Aug 1, 2013 12:04pm Aug 1, 2013 12:04pm
Quoting erap
How low can you go? {image}
very pertinent
If you think you can or cannot do it you are correct
  • #61,244
  • Aug 1, 2013 1:03pm Aug 1, 2013 1:03pm
AUS_Sep : Bounce Possible From 8850 Area in Monthly TF
  • #61,245
  • Aug 1, 2013 2:22pm Aug 1, 2013 2:22pm
AUS_USD:
AUS_USD: Fundamental Analysist August 02: 2013 Forecast

Analysis and Recommendation: The AUD/USD fell below the 90 price level to trade at 0.8966. The fall of the Aussie came after the US dollar recovered but was instigated by RBA Steven’s who basically told markets that the bank would reduce rates at its next meeting. The lower Aussie dollar is also helping exporters to compete with its Japanese counterparts who have been enjoying the low value of the yen to undersell their competitors. This morning the AIG manufacturing index...
  • #61,246
  • Aug 1, 2013 2:23pm Aug 1, 2013 2:23pm
Quoting seaman2
{quote} fair enough. Price now is below 8936 where I was stopped out with market fully functioning. I still believe this kind of manipulation can only be done in weak market and indicates market is weaker than expected. Future PA will answer whether I was idiot to tighten the stop.
phew, I was worried for a sec that market will shoot up after down spike at the start of day that stopped me out as tighten stop too quick. market is weak as it reached new low. So my view was correct => stop worked. This is no. 5 loss/schratch after last win. Averaging 9 losses/scratches between 2 wins these days.
  • #61,247
  • Aug 1, 2013 2:25pm Aug 1, 2013 2:25pm
Quoting Neqrotik
{quote} "I have been speculating in currencies ever since the started floating, but I have failed to make money on a consistent basis. On balance, I traded profitably through 1980 and then chalked up losses between 1981 and 1985. By temperament, I have always been more interested in picking the turning point than in following a trend....I tried to pick the reversal point instead - needless to say, without success. I had some temporary profits in the early part of 1984, but I gave them all back." - George Soros
he is lying. picking tops/bottoms is the highest risk/reward game in town.
  • #61,248
  • Aug 1, 2013 2:28pm Aug 1, 2013 2:28pm
It is all very well to be bearish. But can anyone post a chart and explain where he would short from if he is not already in short from much higher levels? That would be a lot more helpful and interesting. Thanks.
  • #61,249
  • Aug 1, 2013 2:56pm Aug 1, 2013 2:56pm
Quoting seaman2
{quote} he is lying. picking tops/bottoms is the highest risk/reward game in town.
Rubbish.
The coincidental success is more dangerous than the expected failure
  • #61,250
  • Aug 1, 2013 3:09pm Aug 1, 2013 3:09pm
Quoting Neqrotik
{quote} Rubbish.
  • #61,251
  • Aug 1, 2013 4:10pm Aug 1, 2013 4:10pm
Quoting Oshawa
It is all very well to be bearish. But can anyone post a chart and explain where he would short from if he is not already in short from much higher levels? That would be a lot more helpful and interesting. Thanks.
Any rally of 60+ pips would likely be a good place to open a short. Then just use support and resistance.
  • #61,252
  • Aug 1, 2013 4:22pm Aug 1, 2013 4:22pm
Quoting Neqrotik
{quote} Rubbish.
sure. keep doing what mainstream press is telling you to do. They want you to succeed
  • #61,253
  • Aug 1, 2013 4:41pm Aug 1, 2013 4:41pm
seaman2.

I think there is miscommunication here. The book quote was used to reinforce the point made by an earlier post that trying to pick bottoms and tops are dangerous. The text expresses how even pro's like George Soros have had a hard time successfully picking them as well. I honestly don't think the text was written nor was it quoted with the intent to provide explicit trading advice.
The coincidental success is more dangerous than the expected failure
  • #61,254
  • Aug 1, 2013 4:53pm Aug 1, 2013 4:53pm
Quoting Neqrotik
seaman2. I think there is miscommunication here. The book quote was used to reinforce the point made by an earlier post that trying to pick bottoms and tops are dangerous. The text expresses how even pro's like George Soros have had a hard time successfully picking them as well. I honestly don't think the text was written nor was it quoted with the intent to provide explicit trading advice.
Actually you are right. Picking tops/bottoms is extremely dangerous and can sink the whole fortune.

However, that does not mean that DISCIPLINED falling knife catching does not work well. That includes hard stop. I get number of minor losses or wins and then winner for 10+ risks. Reluctant to trade single stock as gaps can be large and risk cant be controlled. So, currencies & stock indexes are the the best for what I do.
  • #61,255
  • Aug 1, 2013 5:28pm Aug 1, 2013 5:28pm
Quoting Neqrotik
seaman2. I think there is miscommunication here. The book quote was used to reinforce the point made by an earlier post that trying to pick bottoms and tops are dangerous. The text expresses how even pro's like George Soros have had a hard time successfully picking them as well. I honestly don't think the text was written nor was it quoted with the intent to provide explicit trading advice.
I agree. The man almost took out the BoE in the 90s. He's made a lot of money, but currency trade is volatile. There is no question about it. Case in point with Aussie, there has been like 700 "bottom" and I don't think anyone here has walked away rich beyond measure.

If it was an easy game as to just pick out tops and bottoms then this community would be a lot smaller. For one, I'd be on my yacht on the cost of Monaco
When the facts change I change my mind, what do you do sir
  • #61,256
  • Aug 1, 2013 6:11pm Aug 1, 2013 6:11pm
AUS_Sep what you Guys think Data will show + or - ??
where AUS will Move ??? more down or Up ??
  • #61,257
  • Aug 1, 2013 6:58pm Aug 1, 2013 6:58pm
Not suggesting anyone to pick bottom. But the momentum is waning, and a potential broadening pattern here.

http://i43.tinypic.com/211743c.png
  • #61,258
  • Aug 1, 2013 7:05pm Aug 1, 2013 7:05pm
Aussie is going to correct. We've had too big of a downwards move without a significant correction. It is likely that we will make a big drop first. If I see a big 5 min candle down, I will be getting out of my short. I'm shooting for 0.8750 but that seems a bit away.
  • #61,259
  • Aug 1, 2013 7:59pm Aug 1, 2013 7:59pm
Both chart and RBA reaction is bearish. Also I don't see any sign of reversal after yesterday lower low price action. However, we tends to ask "how low can it be?". In forex, any sh*t* can happened.
The true fact is market doesn't care, risk mgt is important.
  • #61,260
  • Aug 1, 2013 8:12pm Aug 1, 2013 8:12pm
Is looking a little tired. Unless a new now is put it, may see green pips. Limited to .9-.95 IMO

Data never disappoints though, well if you're a bear
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When the facts change I change my mind, what do you do sir
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