AUD/USD

1 more . let price do what they want. dun care bull or bear.

glad aud is not that unpredictable, we only need to pin down the $

canceled

Long 0.913 tp at 0.915

Great work 5percent. It seems the breakout has happen to the upside.
Time to start profiting.

S 9130 on 1H TF

Doubting a break to the upside for now. Still see strong resistance near 9138.

Intraday I think we go back to 908-909 and see what happens.

http://finance.yahoo.com/news/forex-strategy-long-aud-usd-123000410.html

Hope so

Starting to look like I was wrong. Looking to go long if we break to upside.

EDIT - yep I'm long now. Looking for 9175 at least.

I even like to see 0.93 to load shorts again

going with the flow of trend! break even and trailing towards target.

. no bear no bull, just following what market do! be in the flow don't fight a price action trend.

I dont know why are ppl shorting after PA closed resistance, or buying after pa closed under support.

Seem money constantly flowing in/out between USD/JPY - AUD/USD..

H1 chart :

short 9175 TP 9135

Looking for a short entry...

I thought i was going nuts, that I was imagining that. You are right. And andex, half the JPY pairs are going up and half down, thats not only unusual on a normal but what about Japans vow to KEEP THEIR DOLLAR DOWN. Is THAT NOW HISTORY? Unless they are taking a break to catch the retail guys blindsided, its back to normal. And you know what normal now is which makes it the worst time to be a forex forecaster.......THe USD and the EUR have been moving in the same direction against the other pairs, if not all day then for hours at a time. When did we see that on a regular basis???The norm is no longer the norm anymore, at least it seems till the REAL traders come back after labor day. This august has been a very good albeit expensive lesson for me. When markets start trading opposite the way they normally do, or worse, some days yes and some days no, and on several things at once like I just mentioned especially in summer........go into sim mode as this is where they chop up the retail players no matter which side you are on. And if you are using shorter than a 30 min time frame you are going to get chopped up anyway by the spread. GOOD CATCH ANDEX! Now TELL ME HOW WE MAKE MONEY WITH THIS INFO THE REST OF THE MONTH. -)

I am. Thank you. But I only partially agree with you. I personally try not to move my stop but only because of the spikes you see on the daily bar that went thru your new BE STOPand left you in the dust. You dont think even the big retail guys know if they take out stops a looooot of guys are not going to jump back in to defend that price,at least for the day. And if they do, these days weve been seeing stops get hit 2 and 3 times so this if I may add one of my own tricks, this is a good time with all the crazy stuff thats happening is to use mental stops if you want to go to bE...but dont let the market makers see it and even if you are with someone like FXCM that wont hunt your stops, they still get dragged along with the game players and yu get hit anyway.

That said one of the best stock traders I ever saw in all my life trading out of a room live and profitable almost every week...said to us students.........................WHY MOVE YOUR STOP IF THERE IS NO REASON TO? AND THEN ASK YOURSELF...IF THERE IS NO REASON TO...IS THERE A REASON TO STILL BE IN THE TRADE AT ALL? I ask myself as a day trader that all thru the day, AND ONE THING I NEVER DO IS SET A TARGET AND GET RIGHT OUT AS SOON AS IT IS HIT. WHAT PERSON HAS NOT SEEN THEIR TGT HIT THE 1.618 and then pull back only to explode later in the day as the mm's know even some banks let their traders take profits at 1.618 because the profit is so fat. (He said he'd kill anyone who gave that away as he got that from a pro trader at goldman that the mm's watch to see if price action hesuitates too long at certain fib numbers and if they do they short the hell out of em and everyone still in gets scared and takes profit and then the big boys like Goldman run it up and take ALL the money from theire on in all day long and often thru the next day. Thats where christmas bonuses come from!

But yes seaman....sitting on your hands is often the most profitable play of your day,regardless if you are in the position or got out already. yOU ARE A SHARP GUY. Why do you prefer this pair and what are you foreseeing it trying to do thru end of august. Me? I see total chaos ans the retailers and the banks if you look both at the retail and the 60min charts last few days, have no idea whats going on. Lets just say they all havent agreed to a number.......yet! The traders are out there hustling on their own, can you feel it in the price movement. No follow thru anywhere.Even this gbp/usd has like 6 huge green bars and the daily bar looks like shit! Tells me the banks arent behind the move!

WE WILL SEE THE AUD RALLY AGAIN BUT WHEN ITS THE BIG MONEY, THE LASTING MONEY, THE MOVES WILL HOLD UP ALL DAY. REMEMBER THAT. IVE DOCUMENTED IT FOR YEARS!

Another thing that should be sickening you guys about AUD(which by th eway I started my Forex career on this pair as it helped me play the other pairs better as money flowed in and out of this one! Dont you guys remember that when AUD payed 4% INTEREST, it was the go to currency when things got shaky with the dollar as long as gold didnt go down much because in the end, the banks need those billions they make from 4% combined to .50%. There was no countries that had the gall at that time to pay .25%. Now we cant assume the banks are going to run to the AUD anymore. Its still the leader in interest, but we lost one of the surest long term plays in all the markets and definitely in all the currencies. Although keep in mind guys.....this thing wont go down forever. 2.5% is still a lot better than what the USD pays and for us its meaningless, when you are moving 500 million a day, its a huge amount over a year.

I am long term bull in aud. Most profits for me come from AUD related pairs.

in my opinion QE-ing is not over. So will see commodities resurrected.

Also do not forget that au banks, that control government, as seen from support they got due to GFC, have license to print money. When someone takes loan, they just increase your account balance. There is no real cash to cover this. So, as borrower pays back capital & interest this is 100 profit for the bank!!! Higher interest higher profit.

So, sharp eye can see incentive for banks for HIGH interest rates. Market knows that and hint of good times decreases chance of this bubble popping and AUD soars.

I swing trade and this shaped my philosophy about stops.

One needs disaster stop. You know is far enough if hit <10% of time and when hit, market continues against me more often than not. This is for me definition of good stop.

Why move stop ?

there are 2 options. One move stop aggressively and second don't move stop or in minimal increments.

Trade based on technical setup I will move stop quick and close. They are typically small in size.

Trade based on conviction I will not move stop or only minimal. Biggest bet size. Reason is - I believe in the trade ! More messing with stop more chances big winner will be cut short.