AUD/USD

Thanks for that mate, i was wondering what else was stalled price in that zone.

You are technically correct, however don't you think the fact that the much of the liquidity isn't there during the weekend causes micro structural anomalies when price makes such a move. Or do you think this is like fading any extensive move, say one occurring during a new event on a weekday during US/London sessions?

If this is true then do you think there is any edge in fading sudden large price movements?

The only pair that is actually 'moving' after the weekend gaps.

Notable is the 0.9320 level, where the price has bounced severally already. Since we' still on a bullish run, a pullback to this level may present a good opportunity to go long on the aussie

That's what I'm looking at too, Still cannot see anything but buying dips but we may get to 94.50 before 93.20

we should see .96 before any strong down turn, nothing to stop this monster at the moment !

Amazed at how many people are going long on this.... Retails gona look real long on this
looking for opportunity to short this

Sigh.. i hate the gap T_T

2 weeks ago i sell aud at 9250 (floating 9 day) and i closed at 9225 last week.. T__T
Now i have position sell at 0.9275 Tp at 9180 (already floating 5 day)

Hope aud go down

But i add pending long at 9380 TP at 9460 -_-

not until 97 imo, look at the weekly

I would advice you to quit trading live or stop what you are doing now.

Trading requires more than just hope, luck and opportunities. No one know what can happen the next second.

Given any attempt to square, take it, or prevent your account from leveraging too, negative-hedge won't help your account either way. Stop loss should be taken if it crossed certain level of equity of your account to prevent further losses and damage done.

Every trade requires a trading plan and method which consist of checklist, and reason of executing the trade and your own beliefs in it, trading management of reducing risk via trailing stop, break even, positive hedging, and of course your system. Each trade should abide to the set up which consist of risks and costs, and target. Risk and costs which also involves the time factor and number of candlestick ahead, if held a position based on a system and set up, but working against you for days, that set up should be invalidated already. If the method / set up was right, it should move in your favor very shortly.

Accept the outcome and re-learn from scratch, build your foundation and tolerance in managing draw down and losses, before you leverage. Trading with hope, greed and fear will only let the market slaughter you eventually. No matter how much previous profits you may attain may also be lost to the market.

Apparently, last Thursday & Friday, your position should be green, you should blame yourself for not applying stop losses or trading management of squaring that position to break even point earlier, and move on to new ideas. You could also opened a hedge live buy at support level of 0.9220-30 area since price stalled there, and activate new sell stops below if price meant to go lower, it will tripped your order and move to your target.

current day's highest hi 0.9389, i don't understand why long at 0.9380 when its at the resistance channel and should be done earlier during the Asia'a test of support at 0.9315-17. Which 0.9317 was one of daily's resistance turns support channel on tues-wed last week if i am not wrong. You may risk a long triggered at 0.9380 and price hit resistance at 0.9389 and slammed back down. Resistance may also be whole no. 0.94 area. It can be ugly to negative hedge a sell low and buy hi with 100 pips differences.

Unless the surging and momentum is extremely bullish.

Bullish context of audusd remained on 0.9355, as 0.9354 was last week's thursday spike hi and highest channel of resistance from 0.9355-0.8840 range. Above 0.9340 is bullish for 0.96-97. But that won't happen all in one time, probably some events and pullback.

i'm still short, too late for reversing anything this morning anyway, and didn't find any reason to close trade.

0.95 will come in as a real test , psych level confluencing resistance zone

Another impulse push up though todays high? Or below 0.9377 should trade lower to 0.9356 before trying to moving higher...

Agreed

AUD 240 copied from the coghlan capital thread in the commercial section

http://www.forexfactory.com/showthre...84#post6966684

Gap or no gap we still haven't closed it.

Told you this week is gonna be a bit hectic. Obviously I didn't know whats-his-name was going to withdrawl, but tapering has put a eerie feeling on this week for me. No trades to be had. Good luck gentle ladies

I'm also short, bit of drawdown but given 100% of gaps have filled on this pair since 2010 I reckon the current move up is to suck in longs before the move back down one US session opens.

Ok it looks like we're going to move through todays high @ 0.9392

I'd be carefull thinking like that... it's easy to hold on to losers and ignore price action when your vision is clouded

I mean you may be right but if the N.Y traders see value in the aussie why bother filling a gap? The gap could be see as aussie strength - there arn't that many gap traders...