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AUD/USD

  • #68,681
  • Oct 29, 2013 3:31pm Oct 29, 2013 3:31pm
Quoting PipTrapper
{quote} Oops.. My mistake. Apparently there is something better than nude beach volleyball... Nude beach rugby... boys vs girls
Inserted Video
FF journal: Peaks and Troffs
  • #68,682
  • Oct 29, 2013 3:44pm Oct 29, 2013 3:44pm
Quoting lonewolf1
Look at your daily chart for next logical area of support. Then look for this currency to test it. It doesn't matter what wave or something it is. Look at basic support and resistance. It's not harder then that.

Well said. I look for a 1.2.3 reversal off support or resistance on the 15 min and 1 hour charts. I find lines are the levels for me, found on the daily and above. Elliot is good in hindsight but not for me. Same as fibs like Pip A said. Seldom do they stop exactly.
I use a 20 or 25 pip stop with a x5 and x10 tp, and stops on other lots behind 1 hour and 4 hour swings to maximize the runners. Not a great win ratio but the R:R more than makes up for it.
My second TP is at .9408 because of the round number and the weekly support.
FF journal: Peaks and Troffs
  • #68,683
  • Oct 29, 2013 3:54pm Oct 29, 2013 3:54pm
And that is why my stops are always 150 pips away or more, low liquidity stop hunt on Aud/Nzd
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #68,684
  • Oct 29, 2013 4:12pm Oct 29, 2013 4:12pm
Quoting BobGnarly
And that is why my stops are always 150 pips away or more, low liquidity stop hunt on Aud/Nzd
I was about to add another long at 1.1455 and suddenly the spread expanded to 50 pips. Good thing I noticed before clicking. I'll keep that in mind for next time... "Beware of spread widening at rollover"
Those who say it cannot be done should not interrupt those who are doing it
  • #68,685
  • Oct 29, 2013 4:33pm Oct 29, 2013 4:33pm
Quoting lonewolf1
{quote} Still good questions. I always target 50 pips as my first level when trading higher time frames. After that i always take a bit of profit and move my stops. After that it's a no stress trade. I then look for longer term targets, but again after the first 50 pips i just don't pay as much attention to it.
Cool and thanks
Those who say it cannot be done should not interrupt those who are doing it
  • #68,686
  • Oct 29, 2013 4:37pm Oct 29, 2013 4:37pm
Quoting PipTrapper
{quote} I was about to add another long at 1.1455 and suddenly the spread expanded to 50 pips. Good thing I noticed before clicking. I'll keep that in mind for next time... \"Beware of spread widening at rollover\"
I've added a buy limit order at 1.1460. For me it's a good level to add-on. Would be nice if it triggers before the upward resumption. If not, no worries. If it doesn't come to my price, I don't want it.
Those who say it cannot be done should not interrupt those who are doing it
  • #68,687
  • Oct 29, 2013 5:07pm Oct 29, 2013 5:07pm
Short EUR/AUD at 1.4489
Target 1.4210
SL 1.4575
RR: 3.25:1

EURAUDCALL
Those who say it cannot be done should not interrupt those who are doing it
  • #68,688
  • Oct 29, 2013 5:09pm Oct 29, 2013 5:09pm
Quoting PipTrapper
Short EUR/AUD at 1.4489 Target 1.4210 SL 1.4575 RR: 3.25:1 EURAUDCALL
I am also short from 1.45, stop on a close >1.4560

targets 1.4350/4400

I managed to pick up 50 pips selling the 1.4530 move down to 1.4480's today, so only really risking 10 points on this.
Attached Image (click to enlarge)
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  • #68,689
  • Oct 29, 2013 5:14pm Oct 29, 2013 5:14pm
Quoting JeremyWS
{quote} I am also short from 1.45, stop on a close >1.4560 targets 1.4350/4400 I managed to pick up 50 pips selling the 1.4530 move down to 1.4480's today, so only really risking 10 points on this. {image}
Nice. I wanted to enter above 4500, but I was out for my daily power walk at the time.
Anyway, 11 pips isn't going to make much difference to me.
Cheers
Those who say it cannot be done should not interrupt those who are doing it
  • #68,690
  • Oct 29, 2013 5:40pm Oct 29, 2013 5:40pm
Quoting PipTrapper
{quote} Oops.. My mistake. Apparently there is something better than nude beach volleyball... Nude beach rugby... boys vs girls
Or this guy getting pwned...

Inserted Video
Anything can happen.
  • #68,691
  • Oct 29, 2013 5:52pm Oct 29, 2013 5:52pm
Quoting PipTrapper
{quote} I've added a buy limit order at 1.1460. For me it's a good level to add-on. Would be nice if it triggers before the upward resumption. If not, no worries. If it doesn't come to my price, I don't want it.

My buy order was taken up at 1.1480 the level I've been looking for for a retracement for a long time. I may have got it slightly wrong but nothing major as of yet. I see 1.1430 as the bottom(4HR 50% fibo), a break below and I'd strongly consider closing most of my longs and re-entering lower.. See what Wednesday brings, hopefully a bullish resumption
  • #68,692
  • Oct 29, 2013 6:17pm Oct 29, 2013 6:17pm
Quoting RodMca
{quote} My buy order was taken up at 1.1480 the level I've been looking for for a retracement for a long time. I may have got it slightly wrong but nothing major as of yet. I see 1.1430 as the bottom(4HR 50% fibo), a break below and I'd strongly consider closing most of my longs and re-entering lower.. See what Wednesday brings, hopefully a bullish resumption
That rejection candle into the demand zone low on the 21:00 GMT candle looks like the bottom to me. All I need to see for confirmation is a break and hold above 1.1502
Those who say it cannot be done should not interrupt those who are doing it
  • #68,693
  • Oct 29, 2013 6:29pm Oct 29, 2013 6:29pm
Quoting PipTrapper
{quote} That rejection candle into the demand zone low on the 21:00 GMT candle looks like the bottom to me. All I need to see for confirmation is a break and hold above 1.1502

All I need is 1.1485 and I'll sleep easy, I can't see a major up move before the RBNZ rate statement. If the MACD is anything to go by it looks like we're going to stay in the positive any more selling pressure could accelerate down another 40-50 pips. I'd rather we bottomed here.
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  • #68,694
  • Oct 29, 2013 6:33pm Oct 29, 2013 6:33pm
Quoting RodMca
{quote} All I need is 1.1485 and I'll sleep easy, I can't see a major up move before the RBNZ rate statement. If the MACD is anything to go by it looks like we're going to stay in the positive any more selling pressure could accelerate down another 40-50 pips. I'd rather we bottomed here. {image}
I think we've already bottomed. Also AUD/USD has almost bottomed (another 40 or so pips), but NZD/USD still has a way to go before encountering pivotal support (around 8100 or ~150 pips from here)
Those who say it cannot be done should not interrupt those who are doing it
  • #68,695
  • Oct 29, 2013 6:37pm Oct 29, 2013 6:37pm
Quoting PipTrapper
{quote} I think we've already bottomed. Also AUD/USD has almost bottomed (another 40 or so pips), but NZD/USD still has a way to go before encountering pivotal support (around 8100 or ~150 pips from here)
Let's see what tomorrow brings I'll rest easy knowing that I've nothing to lose overall only my floating profits which i'm confident of retaining. Speak soon!
  • #68,696
  • Oct 29, 2013 6:44pm Oct 29, 2013 6:44pm
Quoting RodMca
{quote} Let's see what tomorrow brings I'll rest easy knowing that I've nothing to lose overall only my floating profits which i'm confident of retaining. Speak soon!
Yep I'm off to bed now. G'night.
Those who say it cannot be done should not interrupt those who are doing it
  • #68,697
  • Oct 29, 2013 7:51pm Oct 29, 2013 7:51pm
We are just about ready for lift off. Maybe a touch lower at worst i think but nearly ready!!!
Attached Image
  • #68,698
  • Oct 29, 2013 7:54pm Oct 29, 2013 7:54pm
Quoting SpartanTrade
We are just about ready for lift off. Maybe a touch lower at worst i think but nearly ready!!! {image}
So we may try to half lot go in.. If Aussie go lower can try go in another half lot..
  • #68,699
  • Oct 29, 2013 10:59pm Oct 29, 2013 10:59pm
.9480 - the fibo at .9460 seems to have held and now its nuts in the vice time.

I see Moody's discussed cutting NZ from AAA.. now is that because their growth is good? (sarcasm)

How are rating agencies still in business when their rating are meaningless.
  • #68,700
  • Oct 29, 2013 11:02pm Oct 29, 2013 11:02pm
well what a move on aud/nzd
They must have downgraded
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