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AUD/USD

  • #71,021
  • Dec 19, 2013 9:24am Dec 19, 2013 9:24am
Quoting mm2mm
All bad data today. Sigh.
Bad US data, but AUD continue to be weak. .85 number wanted by RBA is indeed a magnet.
The true fact is market doesn't care, risk mgt is important.
  • #71,022
  • Dec 19, 2013 9:28am Dec 19, 2013 9:28am
Quoting Ssm
{quote} Bad US data, but AUD continue to be weak. .85 number wanted by RBA is indeed a magnet.
Yeah I know, I'm still short but it would have been so much better with at least one good number :/
  • #71,023
  • Dec 19, 2013 9:30am Dec 19, 2013 9:30am
oh well. here's the plan for the bulls. this theory
and it is unlikely.
Attached File(s)
File Type: tpl my plan for bull ) audusd.tpl   6 KB | 291 downloads
  • #71,024
  • Dec 19, 2013 9:32am Dec 19, 2013 9:32am
Quoting AlbertR
oh well. here's the plan for the bulls. this theory and it is unlikely. {file}
hi albert, would you mind explaining to me why you think it might go up to 0.93?? sorry trying to learn hehe
  • #71,025
  • Dec 19, 2013 9:40am Dec 19, 2013 9:40am
Quoting tecked
{quote} hi albert, would you mind explaining to me why you think it might go up to 0.93?? sorry trying to learn hehe
My friend. I'll tell you a terrible secret. The market does not move from the news or economic data. Whereas when the market moves on one side of supersaturation money. Moving in that direction - where fewer trades.
When there will be few buyers or when a lot of people lose a lot of money if the market goes up.
I'm not saying that the price will go to 0.9300. I say - if the price is at a mark of 0.9300. then I'll buy it.
  • #71,026
  • Dec 19, 2013 9:43am Dec 19, 2013 9:43am
Quoting tecked
{quote} hi albert, would you mind explaining to me why you think it might go up to 0.93?? sorry trying to learn hehe
Maybe on the day Steven say he prefer number 95 rather than 85. Just for laugh.
The true fact is market doesn't care, risk mgt is important.
  • #71,027
  • Dec 19, 2013 9:45am Dec 19, 2013 9:45am
Quoting Ssm
{quote} Maybe on the day Steven say he prefer number 95 rather than 85. Just for laugh.
Actually it was a joke. well they understood me.Who knows, maybe the market obeyed AlbertR and not Glenn Stevens :-)
Attached File(s)
File Type: tpl my plan for bull ) audusd.tpl   6 KB | 287 downloads
  • #71,028
  • Dec 19, 2013 9:55am Dec 19, 2013 9:55am
Quoting AlbertR
{quote} Actually it was a joke. well they understood me.Who knows, maybe the market obeyed AlbertR and not Glenn Stevens :-) {file}
Buying AUD is risky for the time being, if you noticed since Stevens spoke abt .85, any sign of rallies are immediately being sold off.
The true fact is market doesn't care, risk mgt is important.
  • #71,029
  • Dec 19, 2013 10:04am Dec 19, 2013 10:04am
Attached Image (click to enlarge)
Click to Enlarge Name: download (6).png Size: 73 KB
Pecuniae obediunt omnia
  • #71,030
  • Dec 19, 2013 12:00pm Dec 19, 2013 12:00pm
Usually when price reaches a major support and it does not jump, it's a sign it will not hold.
  • #71,031
  • Dec 19, 2013 12:25pm Dec 19, 2013 12:25pm
Quoting 2+2=4ex
Usually when price reaches a major support and it does not jump, it's a sign it will not hold.
meaning lower low will come very very soon?
  • #71,032
  • Dec 19, 2013 2:09pm Dec 19, 2013 2:09pm
I'm AlbertR new GOD market. You know what I mean. :-) haha joke good night all
  • #71,033
  • Dec 19, 2013 8:43pm Dec 19, 2013 8:43pm
Hi, I am new to forex need some help here.

I am using SMA, MACD, RSI and Stochastic for my trading system with 8hr and 1day time frame which show me downtrend for aud/usd since yesterday. And the news for Stevens and FOMC too.

But I don't understand why it keep going up and why it move in this way.

Been holding short aud/usd for more than 1 day, should I close my trade? Or wait for it to go reverse? I short @0.88234 and still holding.

Need some suggestion and help please.

Thanks!
  • #71,034
  • Edited Dec 20, 2013 6:28am Dec 19, 2013 9:26pm | Edited Dec 20, 2013 6:28am
... very good and comprehensive overview of australian data has been done by CBA (Commonwealth Bank of Australia)
all that makes much clearer (what & why) AU$ is where it is as well as where it is heading now and/or in near future ...
Attached Image (click to enlarge)
Click to Enlarge Name: AU$ - data.jpg Size: 637 KB

Merry Christmas & Happy New Year ...
  • #71,035
  • Dec 19, 2013 11:16pm Dec 19, 2013 11:16pm
Quoting newbieleo
Hi, I am new to forex need some help here. I am using SMA, MACD, RSI and Stochastic for my trading system with 8hr and 1day time frame which show me downtrend for aud/usd since yesterday. And the news for Stevens and FOMC too. But I don't understand why it keep going up and why it move in this way. Been holding short aud/usd for more than 1 day, should I close my trade? Or wait for it to go reverse? I short @0.88234 and still holding. Need some suggestion and help please. Thanks!
First thing you should do is get rid of all your indicators.

As for what to do with your open short position... it's hard to give any suggestions without knowing your position size or leverage. I presume it's too large if you're anxious or nervous about a 50 pip drawdown. If that's the case then I would reduce the size (yes take some loss) and leave a reasonable size open to ride the next wave down.
  • #71,036
  • Dec 20, 2013 12:30am Dec 20, 2013 12:30am
Quoting 2+2=4ex
{quote} First thing you should do is get rid of all your indicators. As for what to do with your open short position... it's hard to give any suggestions without knowing your position size or leverage. I presume it's too large if you're anxious or nervous about a 50 pip drawdown. If that's the case then I would reduce the size (yes take some loss) and leave a reasonable size open to ride the next wave down.
My position size is USD680 and leverage is 1:50. I set trailing stop of 150pips for my this trade.
  • #71,037
  • Dec 20, 2013 12:58am Dec 20, 2013 12:58am
Quoting newbieleo
Hi, I am new to forex need some help here. I am using SMA, MACD, RSI and Stochastic for my trading system with 8hr and 1day time frame which show me downtrend for aud/usd since yesterday. And the news for Stevens and FOMC too. But I don't understand why it keep going up and why it move in this way. Been holding short aud/usd for more than 1 day, should I close my trade? Or wait for it to go reverse? I short @0.88234 and still holding. Need some suggestion and help please. Thanks!
This is call retracement. AUD needs to retrace higher so that bears can short it down. Price goes in zigzag directions.
The true fact is market doesn't care, risk mgt is important.
  • #71,038
  • Dec 20, 2013 3:08am Dec 20, 2013 3:08am
Quoting Ssm
{quote} This is call retracement. AUD needs to retrace higher so that bears can short it down. Price goes in zigzag directions.
So is there any ways to estimate where or when will the retracement end? Using Fibonacci?
  • #71,039
  • Dec 20, 2013 3:22am Dec 20, 2013 3:22am
Quoting newbieleo
{quote} So is there any ways to estimate where or when will the retracement end? Using Fibonacci?

50% fibo is around 0.88800, and there were formed a double top (not that beauty, so will see if it's hold), so now I'm expecting it to 0.88400 at least (than it's ranging), or even lower
f(z)=z2+c
  • #71,040
  • Dec 20, 2013 3:23am Dec 20, 2013 3:23am
Good Morning!
Today's S/R levels on MT4 Templates

EURO
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AUDUSD
EURJPY

http://www.forexfactory.com/showthre...76#post7168176
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