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  • #69,781
  • Nov 20, 2013 2:10am Nov 20, 2013 2:10am
A good trendline or channel can almost pinpoint entrys.
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  • #69,782
  • Edited 10:48am Nov 20, 2013 2:29am | Edited 10:48am
Quoting SpartanTrade
{quote}You were probably one of those short a few years back never even contemplating it would break parity! Are you sure your not short from 89 level praying to yourself and whoever else will listen that your devaluation theory eventuates and you can get out of your short trade with some dignity or your ass in tact for that matter. Your prayers may be answered with a revisit of the 89 area and where I will also be thankful for an opportunity to long again! But I doubt we are going to revisit those sub 90 levels.
I was shorting above parity and continued shorting to 0.9700. This is all documented here in this thread. I held those shorts to 0.8800 and back up to 0.9400 where I finally made my exit. If you go back far enough in my post history you will read all about it. I was a little surprised at how swift and steady the move to 0.8800 was without a rally of any significance - which is why I didn't continue shorting below 0.9700. I was expecting a rally sooner, but it didn't come until 0.8800. I was hoping to ultimately cash out at 0.8500. This is also in my post history (with charts too!).
  • #69,783
  • Nov 20, 2013 4:31am Nov 20, 2013 4:31am
Quoting KiwiOz
Ozzie going to plan so far.............. {image}
Next stop 0.9570 with a speed bump at 0.9515.......
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Money Makes Money
  • #69,784
  • Nov 20, 2013 4:38am Nov 20, 2013 4:38am
Quoting KiwiOz
{quote} Next stop 0.9570 with a speed bump at 0.9515....... {image}
It depends on very strong data and FED news.
  • #69,785
  • Nov 20, 2013 7:36am Nov 20, 2013 7:36am
Quoting zew
{quote} It depends on very strong data and FED news.
What can be new ? Fed is waiting for stronger data to start tapering ...no increase interest rate ...anything else? Market makers know already ( more then retail trader any given time) all possible fed's actions...
The Market pays you to be disciplined
  • #69,786
  • Nov 20, 2013 7:49am Nov 20, 2013 7:49am
If AUD can hold 0.9360 above, I will close my shorts. And try a little long until negative news from China.

China will release lower GDP target which would impact AUD heavily and overnight Repo is very high now.
  • #69,787
  • Nov 20, 2013 8:00am Nov 20, 2013 8:00am
Quoting zew
If AUD can hold 0.9360 above, I will close my shorts. And try a little long until negative news from China. China will release lower GDP target which would impact AUD heavily and overnight Repo is very high now.
S&P futures turning positive
  • #69,788
  • Nov 20, 2013 8:00am Nov 20, 2013 8:00am
Quoting zew
If AUD can hold 0.9360 above, I will close my shorts. And try a little long until negative news from China. China will release lower GDP target which would impact AUD heavily and overnight Repo is very high now.
What makes you so sure that China will release a lower GDP target?
The true fact is market doesn't care, risk mgt is important.
  • #69,789
  • Nov 20, 2013 8:14am Nov 20, 2013 8:14am
In a short term support area, anyone making any moves? Looks like the mini sell off after those China bank closure comments may be done for the day?
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Twitter: @TrendersGame
  • #69,790
  • Nov 20, 2013 10:46am Nov 20, 2013 10:46am
Quoting SpartanTrade
{quote} I wasn't longing from parity buddy!!! I said my account is very healthy as I bought all dips om 88xx level. I put my money where my mouth is and although you say market doesnt care what my opinion is well my bank account does as i trade my opinions and it extremely healthy I rode the first wave up a few years ago and will do the same with this move to parity and beyond.
So you felt that AUD/USD was not undervalued above parity and you weren't long? Then you waited for it to dip to 0.8800 before buying? How convenient that in hindsight you did everything perfect.

Next time you are looking for admiration, why don't you try posting your take profit and stop loss beforehand. Let's see if you're really willing to "put my money where my mouth is" (before it happens).
  • #69,791
  • Nov 20, 2013 12:01pm Nov 20, 2013 12:01pm
I'm still bullish on this. Still underwater. Following the weekly, and still have a Q1 2014 target around the 1.0xxx area.

I'll be closing my positions around 9264 should we get there.
  • #69,792
  • Nov 20, 2013 2:05pm Nov 20, 2013 2:05pm
Friends, who still holds shorts? I'm going to fix profit @ around 0.9300, i see nice support only there.
  • #69,793
  • Nov 20, 2013 2:21pm Nov 20, 2013 2:21pm
More Taper Caper... Get Shorty for now. Resistance around .93-.9280 then long to 9350? Mmm...
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  • #69,794
  • Nov 20, 2013 2:36pm Nov 20, 2013 2:36pm
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  • #69,795
  • Nov 20, 2013 3:29pm Nov 20, 2013 3:29pm
Quoting sharovegas
Friends, who still holds shorts? I'm going to fix profit @ around 0.9300, i see nice support only there.

It's not a trading advise.But look at the chart.September 15th.GAP is unfilled.My target is about 0.9265-80. But we need bad data from China(HSBC PMI).
  • #69,796
  • Nov 20, 2013 3:40pm Nov 20, 2013 3:40pm
Quoting greg811
{image}
Friend, what's your chart about? It's so difficult, i understand just simple logic
  • #69,797
  • Nov 20, 2013 3:41pm Nov 20, 2013 3:41pm
Quoting sharovegas
Friends, who still holds shorts? I'm going to fix profit @ around 0.9300, i see nice support only there.
I'm long till 0.95 it might take a while but I feel confident it will reach that before my margin call
  • #69,798
  • Nov 20, 2013 3:45pm Nov 20, 2013 3:45pm
Quoting EternalNewB
{quote} I'm long till 0.95 it might take a while but I feel confident it will reach that before my margin call
What are your reasons for long?
  • #69,799
  • Nov 20, 2013 3:49pm Nov 20, 2013 3:49pm
Quoting sharovegas
{quote} What are your reasons for long?
Oh well I am a newbie and just playing around testing the market small

However, to me, market is ranging and we have a double bottom at 0.9300, the gap you said is unfilled is also acting as support and price has bounced nicely on this support (double bottom is it called ?) the next key resistance is (to my eyes again) 0.9521 and I think market should reach there as long as 0.9300 holds

please feel free to correct me
  • #69,800
  • Nov 20, 2013 7:22pm Nov 20, 2013 7:22pm
Is possible we see Aussie dive.. .928.. .and .925... Rally down is possible today..
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