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AUD/USD

  • #69,561
  • Nov 13, 2013 7:08am Nov 13, 2013 7:08am
Quoting Ssm
{quote} You are the man! I am sitting on my hands even though I had call for a long at .9280. I will only be certain when .9330 is breached. Nevertheless, I am still holding my small EURAUD from 1.4440 since 2 weeks ago. At the same time, collecting positive swaps. Unfortunately, luck was not with me for GBPAUD and Gold. This is my 1st time trading GBPAUD and Gold. Lesson learnt, never venture into something you are not familiar with. Trade demo or micro mini lots for a start to get a feel.
EUR/AUD just got an H1 close below daily pivot and has confirmed a double top in place at ~1.4480
To me it is downward resumption time.
I am still holding my EUR/AUD shorts. I moved my stop loss on those trades up to 1.4566 and I am still targeting 1.3520 over the next few months.... and possibly even 1.3370 before the bulls rage in.
Obviously with positive swap, I am fine with holding 3 positions for a very long time.
Those who say it cannot be done should not interrupt those who are doing it
  • #69,562
  • Nov 13, 2013 7:10am Nov 13, 2013 7:10am
Quoting giveachance
{quote} don't trade against the trend, there is nothing spectacular about this short bs pullback. lock in profits near 0.9300
Though you are yelling for bulls days ago. Switch side?
The true fact is market doesn't care, risk mgt is important.
  • #69,563
  • Nov 13, 2013 7:12am Nov 13, 2013 7:12am
Quoting Ssm
{quote} Though you are yelling for bulls days ago. Switch side?

yelling? check my posts for last 10 days and tell me when I said it was bullish. may be for intraday I might have said.
  • #69,564
  • Nov 13, 2013 7:16am Nov 13, 2013 7:16am
it is good to have so many bulls. makes my shorts comfortable. 0.9250 and 0.9220 by tomorrow.
  • #69,565
  • Nov 13, 2013 7:27am Nov 13, 2013 7:27am
Quoting PipTrapper
{quote} EUR/AUD just got an H1 close below daily pivot and has confirmed a double top in place at ~1.4480 To me it is downward resumption time. I am still holding my EUR/AUD shorts. I moved my stop loss on those trades up to 1.4566 and I am still targeting 1.3520 over the next few months.... and possibly even 1.3370 before the bulls rage in. Obviously with positive swap, I am fine with holding 3 positions for a very long time.

Hey Pip Trapper. your'e gonna love this chart.......
Attached Image (click to enlarge)
Click to Enlarge Name: euraudweekly.png Size: 44 KB
Money Makes Money
  • #69,566
  • Nov 13, 2013 7:28am Nov 13, 2013 7:28am
Quoting giveachance
it is good to have so many bulls. makes my shorts comfortable. 0.9250 and 0.9220 by tomorrow.

Reminds me of the Fox hiding in the pack of Hounds, cool place to be
Long live the Bears

Mark up
Make sure that the light at the end of the tunnel is not an on coming train
  • #69,567
  • Nov 13, 2013 7:35am Nov 13, 2013 7:35am
Quoting KiwiOz
{quote} Hey Pip Trapper. your'e gonna love this chart....... {image}
Those who say it cannot be done should not interrupt those who are doing it
  • #69,568
  • Nov 13, 2013 8:29am Nov 13, 2013 8:29am
Quoting PipTrapper
{quote} EUR/AUD just got an H1 close below daily pivot and has confirmed a double top in place at ~1.4480 To me it is downward resumption time. I am still holding my EUR/AUD shorts. I moved my stop loss on those trades up to 1.4566 and I am still targeting 1.3520 over the next few months.... and possibly even 1.3370 before the bulls rage in. Obviously with positive swap, I am fine with holding 3 positions for a very long time.

should be good as long as SP500 doesn't sell off. Cause if it does, it'll spike a gazillion of pips.
  • #69,569
  • Nov 13, 2013 8:31am Nov 13, 2013 8:31am
Quoting lumesh
{quote} should be good as long as SP500 doesn't sell off. Cause if it does, it'll spike a gazillion of pips.
No worries. I have an SL in place specifically for that reason. It's a hedged trade coz if SP sells off, I have 4 good shorts that'll help me close off the month in a very comfortable profit

...and if by some chance the AUD doesn't sell off with the SP500, but rather play out as a safe haven, then it's double dip profits for me.
Those who say it cannot be done should not interrupt those who are doing it
  • #69,570
  • Nov 13, 2013 8:34am Nov 13, 2013 8:34am
Quoting PipTrapper
{quote} No worries. I have an SL in place specifically for that reason. It's a hedged trade coz if SP sells off, I have 4 good shorts that'll help me close off the month in a very comfortable profit ...and if by some chance the AUD doesn't sell off with the SP500, but rather play out as a safe haven, then it's double dip profits for me.
  • #69,571
  • Nov 13, 2013 8:39am Nov 13, 2013 8:39am
Quoting lumesh
{quote} should be good as long as SP500 doesn't sell off. Cause if it does, it'll spike a gazillion of pips.
Sorry to ask, what is the relationship with SP500 and why?
The true fact is market doesn't care, risk mgt is important.
  • #69,572
  • Nov 13, 2013 8:42am Nov 13, 2013 8:42am
Quoting Ssm
{quote} Sorry to ask, what is the relationship with SP500 and why?
Risk aversion tends to be quite bearish for the AUD.
Those who say it cannot be done should not interrupt those who are doing it
  • #69,573
  • Nov 13, 2013 8:48am Nov 13, 2013 8:48am
Quoting PipTrapper
{quote} Risk aversion tends to be quite bearish for the AUD.
If housing market is still hot with very high clearance rate, I reckon AUD/USD won't be under 0.92.
  • #69,574
  • Nov 13, 2013 8:50am Nov 13, 2013 8:50am
Quoting zew
{quote} If housing market is still hot with very high clearance rate, I reckon AUD/USD won't be under 0.92.
It wouldn't be so much about AUD weakness as it would be about USD strength and Euro resilience/stubbornness.
Those who say it cannot be done should not interrupt those who are doing it
  • #69,575
  • Nov 13, 2013 9:04am Nov 13, 2013 9:04am
Quoting PipTrapper
{quote} It wouldn't be so much about AUD weakness as it would be about USD strength and Euro resilience/stubbornness.
You are right. Considering oversea buyers use USD, JPY, EUR buy AUD to buy OZ houses, it might make AUD in 0.95- 0.92 area. Actually, house market booming leveled up consumer confidence index.
  • #69,576
  • Nov 13, 2013 9:04am Nov 13, 2013 9:04am
Quoting Ssm
{quote} Sorry to ask, what is the relationship with SP500 and why?

It's the ZIRP (zero interest rate policy) countries vs those that actually have yields.

The crappier the currency (fundamentally) the better position it is. If stocks rise then investors borrow low yielders to buy high yielding assets. If stocks sell off then vise versa happens and investors convert they high yielding assets back to cash.

That's the theory anyway...Look at EURAUD in the midst of a 2008 crisis. You will see a huge spike even though fundamentally it was complete BS. When things settled down AUD strenghtened across the board as it should.
  • #69,577
  • Nov 13, 2013 9:21am Nov 13, 2013 9:21am
It's all about the Mr. Chairman now.
  • #69,578
  • Nov 13, 2013 9:23am Nov 13, 2013 9:23am
Here my Money Mangement System explained with live trades on AUDCHF

http://www.myfxbook.com/files/CrazyT...mQIwRE3Esz.png

Link:
http://www.myfxbook.com/forex-charts...c9tCzA0e3ziuN7

Any comments.. feel free : )
$10K Live Account... 3 months investor testing!
  • #69,579
  • Nov 13, 2013 9:25am Nov 13, 2013 9:25am
Quoting Crazy-Trader
Here my Money Mangement System explained with live trades on AUDCHF http://www.myfxbook.com/files/CrazyT...mQIwRE3Esz.png Link: http://www.myfxbook.com/forex-charts...c9tCzA0e3ziuN7 Any comments.. feel free : )
Without risk, it's just a hedge. What's the point? Too technical for me.
  • #69,580
  • Nov 13, 2013 9:37am Nov 13, 2013 9:37am
Quoting TheTopBloke
{quote} Without risk, it's just a hedge. What's the point? Too technical for me.
It's not just an hedge.

it's more like a reversed hedge.... If price goes up... then Order 3 can be Lotsize Order 2 * 2

Until Order X where lotsize could be big while Risk = 0... it worths to be technical
$10K Live Account... 3 months investor testing!
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