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Aussie Pairs

  • #61
  • May 3, 2006 8:35pm May 3, 2006 8:35pm
Set a buy stop last friday above the resistance of the highs of the bars shown in the chart and a few pips above the 61 fib in case price bounced off.

May add another buy stop above the resistance of the next level of bar highs tomorrow if it keeps going.

Entry at .7614
Initial s/l .7531 which was a few pips below the low of friday
+44 pips locked in with a 50 pip trailings s/l of .7658

While I'm writing this, price seems to be moving toward my s/l, but having let the trade develop this long I'm willing to let it hit my stop if that's what the market wants, but I know this winning trade won't become a loser.

The great thing about this trade for me is that it took a few days of patience to let it develop, but it was a low maintenance trade. Set it friday, checked it once or twice a day, moved stop to b/e, and set the trailing stop. No stress involved.

Learning price action, and utilizing longer time frames seems like the most comfortable (I won't say system), I'll say trading methodology I have found so far.

Jimmy
Attached Image
  • #62
  • May 3, 2006 11:17pm May 3, 2006 11:17pm
nice one. .. i had the exact same trade which I set just hours before the RBA interest rates announcement..
i have exited at .7700 though because I was anticipating a pullback...

don't like to hold them too long anyway..

The Aussie moves lot slower compared to the other majors ... that'st for sur.e
Trade what you see, not what you believe.....
  • #63
  • Edited 3:42pm May 4, 2006 6:26am | Edited 3:42pm
Quoting khoong25
nice one. .. i had the exact same trade which I set just hours before the RBA interest rates announcement..
i have exited at .7700 though because I was anticipating a pullback...

don't like to hold them too long anyway..

The Aussie moves lot slower compared to the other majors ... that'st for sur.e
Nice exit khoong,

I thought that price might hesitate around that round number also, but it wasn't a target when I entered the trade so I just let it ride. In hindsight an exit at .7700 and re-entry on a retrace would have been the thing to do.

Actually, I think I need to adjust my thinking as far as stops go. That 50 pip trailing stop off a weekly chart was to small. If I had moved my stop b/e and set a 75 pip trailing stop I would still be in the trade. (I did like my original stop, its the 50 pip trailer after moving to breakeven that I think was to small).

Oh well... live and learn. Still happy with the trade though.

Jimmy
  • #64
  • May 5, 2006 3:32pm May 5, 2006 3:32pm
Quoting Gyva
Anybody have any links to a news feed about this pair... I would like as much info as possible... thanks
Mike...
Hi mike - does Gyva have something to do with humility?

Darkstar noted on the "Ohh sweet liquidity... " thread in Journals that COESfx http://www.coesfx.com/ has a free demo which can be renewed monthly with a live news app straight from Thomson Financial solely devoted to forex headlines and news stories.

BTW that thread is also a very interesting read.

Leib
  • #65
  • May 7, 2006 1:48am May 7, 2006 1:48am
yours is nice too.. for yourself .. i just don't like to give back much profits when the price retraces, as they normally do before continuing ..

i'd rather reenter .. i like to take some profit off the table everyday...

a profit is a profit is a profit ... you can always do some optimization down the track to make even more ...

happy hunting.


Quoting dangerman
Nice exit khoong,

I thought that price might hesitate around that round number also, but it wasn't a target when I entered the trade so I just let it ride. In hindsight an exit at .7700 and re-entry on a retrace would have been the thing to do.

Actually, I think I need to adjust my thinking as far as stops go. That 50 pip trailing stop off a weekly chart was to small. If I had moved my stop b/e and set a 75 pip trailing stop I would still be in the trade. (I did like my original stop, its the 50 pip trailer after moving to breakeven that I think was to small).

Oh well... live and learn. Still happy with the trade though.

Jimmy
Trade what you see, not what you believe.....
  • #66
  • Jun 2, 2006 2:27pm Jun 2, 2006 2:27pm
I am long AUD/USD from 0.7450 after the bounce off the downgoing massive weekly trendline, which acted as support this time for the second week in a row. With some ema and fibo confluence along with generel dollar weakness across the board, this trade should prove most fruitful over the next days and weeks. After the NFP rally today, stop has been moved to 0.7490.
Always wait for the opportune moment… just be careful not to miss it.
  • #67
  • Jun 5, 2006 5:14am Jun 5, 2006 5:14am
Test post for time check
  • #68
  • Jun 5, 2006 5:18am Jun 5, 2006 5:18am
Well, having checked when posts appear here, I see they show the time exactly in my time zone properly.

This means you posted your 'timely' trade exactly 12 hours after the bottom picking call of only 4 pips off the bottom and your stop safely moved up locking in 40 just as imaginary pips @ .7490.

Please, make your calls in real time - I do believe that is a forum rule - or am I mistaken?
  • #69
  • Jun 23, 2006 11:21am Jun 23, 2006 11:21am
It's not always I have time to post in real time. I am sure you can understand that. I just closed a long loonie trade for +125 pips which I did post the entry on in very close to real time under the USD/CAD thread so no need to point fingers or give thumbs down. Bad vibes dude. I am not a signal service. I have done several aussie trades since then, but haven't had the time to post anything.
Always wait for the opportune moment… just be careful not to miss it.
  • #70
  • Jul 25, 2006 8:36am Jul 25, 2006 8:36am
Are you long or short on AUDUSD?
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  • #71
  • Jul 25, 2006 8:46am Jul 25, 2006 8:46am
^^^ Nice chart minute!

http://i28.photobucket.com/albums/c2.../AudDaily1.jpg

http://i28.photobucket.com/albums/c2.../AudDaily2.jpg

I have a sell order at .7590 I hope it touches that price before coming down.

.7590 - .7610 is a very good resistance level with very long term trendline coming down and Fibo resistances all converging at one area.
  • #72
  • Jul 26, 2006 1:51am Jul 26, 2006 1:51am
Yesterday the shorts came up trumps. How bout today - pushing that resistance could drop again. What do you see?
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  • #73
  • Jul 26, 2006 4:14pm Jul 26, 2006 4:14pm
Well it slide past my predicted resistance line like it was nothing..

I have one sell from .7602 as you can see in this 15 min chart. Whole day today it has been moving in this discplined upward channel.
http://i28.photobucket.com/albums/c2...1/AUD15min.jpg
  • #74
  • Jul 27, 2006 3:22am Jul 27, 2006 3:22am
Looks like it is forming a new channel for today too.

I have locked in my losses at .7627 by taking new buy order. Have moved the stoploss of this parellel buy position to breakeven.
  • #75
  • Jul 27, 2006 8:17am Jul 27, 2006 8:17am
Sounds good. I made some pips selling short before, but now it looks bullish,
could reach the top of pennant it's forming to .7900 on weekly chart.

Good luck.
  • #76
  • Aug 1, 2006 12:39am Aug 1, 2006 12:39am
There maybe a good short on the aussie this week via the COT charts looking very over sold by the commercial futures trades. http://www.timingcharts.com/index.aspx click to aussie dollar!
  • #77
  • Aug 11, 2006 7:07am Aug 11, 2006 7:07am
Looks like the aussie is showing divergence but it's been testing the resistance line the past couple days. I'm waiting for a break of the channel.




http://i47.photobucket.com/albums/f1...eal/audusd.gif
  • #78
  • Sep 22, 2006 9:05am Sep 22, 2006 9:05am
Of all the USD pairs, this was the only one to go in the different direction all of a sudden in the early morning, while all other five moved steady in the same direction (that is, weak dollar and strong other currency).

Any reason why ?


Thanks

Future
"Lunch ? Lunch Is For Wimps !"
  • #79
  • Sep 22, 2006 9:14am Sep 22, 2006 9:14am
See 200day exponential MA recently? AU is a commodity based economy?
  • #80
  • Sep 22, 2006 9:22am Sep 22, 2006 9:22am
Quoting Tom@forex
See 200day exponential MA recently? AU is a commodity based economy?

Mmmmm....sorry my ignorance but could you elaborate a little bit more ?

Thanks
"Lunch ? Lunch Is For Wimps !"
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