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AUD/USD

Quoting Gwan
today the bad data didn't drive the aud lower as expected (by me) it may indicate that the oversold is really oversold, and the next down movement would be very volatile. if not mostly in the form of spikes. which means, it is a good area to scalp.
Forex can be oversold or overbought for a long period of time.

We just hit a major resistance hrs ago, and here we are now.
The true fact is market doesn't care, risk mgt is important.
Quoting Ssm
{quote} {quote} Look at the line .906 in H4 or Day chart, what do you see?

I see R2 today being hit then possible tomorrow we have a day shorting for lower lows... 60 will get broke and it will then back fill off 73 and prob get picked up at around 38 in my opinion. I've already made my pips today on NZD JPY and Aud long and short.. Now Trying Cable long don't like it too much but its hit my support and longed Aussie at 90.15 stop lower low but as you said I could be wrong and 8950 may be hit.. Only time will tell but I'm targeting 9110 area on my long today then I will be short
Quoting paymeinpips
Well I have been short since early morning a few hours before the trade balance report. I was bearish and still am. Thankfully I don't day trade. I have large stops set on my trade so this little dance the Aussie is doing has not affected me. I am however curious as to why it is dancing it's ways up. I use two social trading sites and both show most positions on Aussie and Kiwi as long's.... What the hell am I missing, what are these people buying?
Retailers buy because they think it has fallen too far, but in reality, it is in a down trend and may go forever. more money than most underfunded retail traders have.
The big boys only trade 2 - 3 % of their accounts , so money is not a factor, and when the trade starts moving their direction, they will another 1%, and on the next new high they will sell another 1% and they just keep driving price down as far as they can, until it turns again..............Bingo, retailers are busted...........
The big boys are not trying to bust the retailers, the retailers do it to themselves..........underfunded and poor choices..........
The More You Learn, The More You Earn.....
Quoting 2+2=4ex
{quote} I'm eating a turkey sandwich. Then going to take a walk later.
That is very important to walk those calories off. Let us know when you are eating a Chicken Sandwich next time.................and maybe go for a run......
The More You Learn, The More You Earn.....
Quoting robertrfx
Hope AU go below 0.90 {image}
That is a large round number 0.90, a lot of people like to do business at those large numbers..............
The More You Learn, The More You Earn.....
Quoting forexalien
{quote} Retailers buy because they think it has fallen too far, but in reality, it is in a down trend and may go forever. more money than most underfunded retail trades have. The big boys only trade 2 - 3 % of their accounts , so money is not a factor, and when the trade starts moving their direction, they will another 1%, and on the next new high they will sell another 1% and they just keep driving price down as far as they can, until it turns again..............Bingo, retailers are busted........... The big boys are not trying to bust the retailers,...
Well I cant say I am a big boy because I am trading more than 2-3% of my account, if I did, I would earn pennies for each pip. But I do not go suicidal (I started that way) and open positions with my whole account.

My stops for this deal are over 100 pips and that loss would be about 7% for me sadly. So I am a little worried that its not tunneling down as I seen it would on the charts.
Quoting paymeinpips
{quote} Well I cant say I am a big boy because I am trading more than 2-3% of my account, if I did, I would earn pennies for each pip. But I do not go suicidal (I started that way) and open positions with my whole account. My stops for this deal are over 100 pips and that loss would be about 7% for me sadly. So I am a little worried that its not tunneling down as I seen it would on the charts.
I was only talking about your question. > What the hell am I missing, what are these people buying?

Not how you trade or handle your own account,

cheers.........
The More You Learn, The More You Earn.....
Quoting forexalien
{quote} I was only talking about your question. > What the hell am I missing, what are these people buying? Not how you trade or handle your own account, cheers.........
Yes thanks for answering that. I have never thought of it that way myself.
aaargh, the news fool me twice,
Quoting davidsayli
AUD/USD H4 CHART We may see a sudden drop to the 0.88xx if it breaks 0.8995 today. {image}
0.8780 is showing as a juicy target now........
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Shit Happens
Quoting KiwiOz
{quote} 0.8780 is showing as a juicy target now........ {image}
Open and close below .9 would be great to see. Heck ill take a couple closes below .9010

AUD is one tough cookie.
Might go long for nfp and after next week - short? Staying away from eur and gbp, trending well but I don't follow trends, quick in and out I say
  •  krunfx
  • Joined Jun 2009 | Status: Carry Trader that not want interest | 2,011 Posts | Online Now
my view on AUD...

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Bismillah
Quoting krunfx
my view on AUD... {image}

My thoughts exactly, sharp manipulation down followed by long, this could be the one, good luck!
with gold down i don't c y aud or swissy going up......any cent????
Quoting krunfx
my view on AUD... {image}
$1 Parity? Not too sure if we can reach that level again, at least for the time being, taking into all the resistance above. 1st resistance, price need to clear .905 then there will be some sign of bullishness to reach .91 and .913. Otherwise, we are still deep down into bears territory.
The true fact is market doesn't care, risk mgt is important.
Aud is oversold
current rates attracts massive investment from oversea，as you can see on recent newspaper in Au
so I dont believe Aud can stay below this level
Quoting Ssm
{quote} $1 Parity? Not too sure if we can reach that level again, at least for the time being, taking into all the resistance above. 1st resistance, price need to clear .905 then there will be some sign of bullishness to reach .91 and .913. Otherwise, we are still deep down into bears territory.
Also not forgetting RBA wants a lower level. ie. below .9 level.
The true fact is market doesn't care, risk mgt is important.
Quoting zew
Aud is oversold current rates attracts massive investment from oversea，as you can see on recent newspaper in Au so I dont believe Aud can stay below this level
You could be right AUD just received "massive" support at the 90 level...
1st target just hit 73... now pullback too 40/34 level before push on to 95 then eventually 9110 but I feel we may linger all night now and nfp take us too 9110.... if we hit 9110 today then nfp could take aussie long tomorrow. if price stays at the 9110 level possible price flips of NFP to 9040 then finshes the day at 9170 although there is lots of bears pushing from 9110 to 8950 tomorrow but that daily stochastic could come into play and if it does the weekly will kick in next week so who knows
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