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AUD/USD

  • #71,081
  • Dec 22, 2013 1:14pm Dec 22, 2013 1:14pm
Quoting AlbertR
I opened PAMMs in different currencies. Main currencies - Russian ruble. But I'm opened in USD PAMM too. If who interested, then write to me.

It sounds like you have gone Commercial.
FF journal: Peaks and Troffs
  • #71,082
  • Dec 22, 2013 5:17pm Dec 22, 2013 5:17pm
Quoting bogus
{quote} It sounds like you have gone Commercial.
Money Makes Money
  • #71,083
  • Dec 22, 2013 9:37pm Dec 22, 2013 9:37pm
Currently AU is in retracement or reverse?

And why during Christmas is a good time to trade?
  • #71,084
  • Edited Dec 23, 2013 6:22am Dec 22, 2013 11:18pm | Edited Dec 23, 2013 6:22am
Hello Guys
This will be my trade setup for today

Cheers

Howard (#forex_Trader168)

AUDUSD Daily Outlook for 23th December, 2013 (Monday)

Daily Chart
http://2.bp.blogspot.com/-qVAZRoL_YG...2-23_00-47.jpg
enlarge -


On Friday, After over 7 days of bearish days we finally have a good bullish candle reaction from a major support zone. Even though price bounced from the support zone formed in august, it concerns me that price did actually fall below August lows creating a new low for the year. This to me shows strong selling pressure. Next time when price comes to this area, i would expect this area not to hold and price to go lower

  1. Formed fresh new yearly lows on Thursday, and rebound on Friday
  2. Formed new yearly low
  3. Slightly broke support from august which to me shows strong selling pressure
  4. Next time when price comes to this area, i would expect this area not to hold and price to go lower
  5. Stochastics is turning up
  6. My sell zone / resistance area is at the 0.90 - 0.9050

Hourly Chart
http://1.bp.blogspot.com/-Ye9OwmusFi...2-23_00-47.jpg
Click to enlarge -

1 Hr Chart
http://3.bp.blogspot.com/-IG7-z7LvcU...2-23_00-47.jpg4 Hr chart - CLICK TO ENLARGE

On Friday we had a good positive ending day which brings us back up trading in the 0.89's. I am expecting bullish momentum to be short lived towards the .90's and resuming the bearish momentum.
Indicators wise, on the hourly chart stochastics are turning, and on the 4hr slight divergence is possible.

  1. If we look at the 4 Hr chart, you can see we are in a descending Chanel
  2. At this stage i would go long on dips at around the pivot daily area (.890)
  3. Resistance area is at the .90 where we will go short

Outlook Trade opportunity
For Today i would buy dips at around the daily pivot area, (0.890) Looking for a 1:1 reward.
Its holiday season so not much action is expected.
We will also setup a short limit order at the 0.89594- 0.90 area
Risk Level - Medium

Only the strong survives!
  • #71,085
  • Dec 23, 2013 12:17am Dec 23, 2013 12:17am
Quoting newbieleo
Currently AU is in retracement or reverse? And why during Christmas is a good time to trade?
Everybody has their own ideas on what is going on, and maybe nobody is wrong per say. Just go with what you think personally, that way if you are wrong you can deal with the consequences.
  • #71,086
  • Dec 23, 2013 4:08am Dec 23, 2013 4:08am
Quoting AlbertR
I opened PAMMs in different currencies. Main currencies - Russian ruble. But I'm opened in USD PAMM too. If who interested, then write to me.

Hello Albert(GOD)..
I have 2million somali shillings If interested you can manage it for me...I am trying to buy this hot beach front property in Nevada...How soon can u trible it...I want my money by christmas?
  • #71,087
  • Dec 23, 2013 4:29am Dec 23, 2013 4:29am
Quoting htsang
Hello Guys This will be my trade setup for today Cheers Howard (#forex_Trader168) AUDUSD Daily Outlook for 23th December, 2013 (Monday) Daily Chart {image} On Friday, After over 7 days of bearish days we finally have a good bullish candle reaction from a major support zone. Even though price bounced from the support zone formed in august, it concerns me that price did actually fall below August lows creating a new low for the year. This to me shows strong selling pressure. Next time when price comes to this area, i would expect this area not to...
Nice analysis here on your plans, much better and well thought out than i have seen here recently
  • #71,088
  • Dec 23, 2013 4:32am Dec 23, 2013 4:32am
Quoting IveGotQuads
{quote} Nice analysis here on your plans, much better and well thought out than i have seen here recently
Thanks mate
Only the strong survives!
  • #71,089
  • Dec 23, 2013 5:15am Dec 23, 2013 5:15am
Quoting htsang
{quote} Thanks mate
No problem, but i think you should use the upload screenshot option so your charts can be clicked on,makes it easy to see it.
  • #71,090
  • Dec 23, 2013 5:23am Dec 23, 2013 5:23am
Quoting IveGotQuads
{quote} No problem, but i think you should use the upload screenshot option so your charts can be clicked on,makes it easy to see it.
Yeah i want to make it so its clickable.. but trying to figure it out. I'll figure it out tomorow when i post another update

Cheers
Only the strong survives!
  • #71,091
  • Dec 23, 2013 5:33am Dec 23, 2013 5:33am
Quoting IveGotQuads
To all the guys that want to short this, let me ask you a question. Who do you think is on the other side of your trade ? Through the basic universal laws of supply and demand the traders buying your shorts are they making a smart decision or a bad decision ? I included a weekly and daily chart you can be the judge. {image} {image}
SO what are you trying to say.?? Your charts & comments have no message or input.......
Money Makes Money
  • #71,092
  • Dec 23, 2013 5:46am Dec 23, 2013 5:46am
Quoting newbieleo
Currently AU is in retracement or reverse? And why during Christmas is a good time to trade?
The pair is meeting with much resistance above. The overall trend and MAs are still to the downside and we are still in bears territory. IMO, only close above .9 will the trend change.
The true fact is market doesn't care, risk mgt is important.
  • #71,093
  • Dec 23, 2013 5:57am Dec 23, 2013 5:57am
Quoting KiwiOz
{quote} SO what are you trying to say.?? Your charts & comments have no message or input.......
The reason why I asked that was because apart from the last poster (htsang) who gave reasons, everybody else seemed to be literally commanding Aud/Usd to go where they wanted and we all know that the pair is going to do what it wants. So now my question was if they were selling/shorting who do they think were the buyers thats all. I think those are valid questions and I dont think anybody brought that up.
  • #71,094
  • Edited 9:22am Dec 23, 2013 8:29am | Edited 9:22am
the underlying trend - a bear. -0,9250-0,93 important range.
https://www.facebook.com/100004856200305
add me
  • #71,095
  • Edited 9:22am Dec 23, 2013 8:49am | Edited 9:22am
technically price clamped bears at around 0,9255-75. This is a very strong bearish territory. Therefore, I will buy only if the price is above 0.9300.
https://www.facebook.com/100004856200305
in my page new analysis
  • #71,096
  • Dec 23, 2013 9:57am Dec 23, 2013 9:57am
Anyway ive decided to put my money where my mouth is, I have been in this trade since about 10hrs now. It is of course a positional trade and may last for about 2 weeks before further assesment as long as I am not stopped out. Lot size was modified to account for the 145 stop loss (0.8789) Intital take profit @ 0.9150 and 2nd TP will be revised at the next zone. A potential Risk to reward of 2.8 Happy pip hunting guys GL
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 39 KB
  • #71,097
  • Dec 23, 2013 11:02am Dec 23, 2013 11:02am
At this very moment... I believe...

Position long make sense.

Intra-day short makes sense.

Position short doesn't make sense... at least not here.

Intra-day long doesn't make sense...at least not here.

Just define risk and play.

GL
  • #71,098
  • Dec 23, 2013 12:58pm Dec 23, 2013 12:58pm
Attached Image (click to enlarge)
Click to Enlarge Name: 23-12-2013 20-51-40.png Size: 42 KB
  • #71,099
  • Dec 23, 2013 1:08pm Dec 23, 2013 1:08pm
As IveGotQuads pointed out, the AUD/USD has terrific support on the weekly chart around 89...I would be a reluctant short here...so, I went long about 8 hours ago...with a tight stop loss @ 89.16..now, we wait and see.
  • #71,100
  • Dec 23, 2013 2:32pm Dec 23, 2013 2:32pm
I'd say the reason it went up is because people are closing out their shorts from October. It will be going down to new lows again, imho.
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