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AUD/USD

  • #71,341
  • Jan 9, 2014 11:29am Jan 9, 2014 11:29am
aud/usd buy

h4 at previous low
m15 downtrend making hh, hl
edit moved tp to 0.8940
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 33 KB
Click to Enlarge Name: audusdm15.png Size: 32 KB
  • #71,342
  • Jan 9, 2014 12:49pm Jan 9, 2014 12:49pm
not sure about this down move.
closing this at around be.
  • #71,343
  • Jan 9, 2014 1:57pm Jan 9, 2014 1:57pm
Quoting wannabtrader
not sure about this down move. closing this at around be.
Sometimes inside a channel you'll get higher lows and higher highs as you can see at the left,but on the right you'll also notice how the price is respecting the upper part of the channel. If tonight's news on the Aussie is good and China also maybe it will go up, and if the US news is bad tomorrow.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 67 KB
Click to Enlarge Name: audusdh4.png Size: 57 KB
  • #71,344
  • Jan 9, 2014 2:09pm Jan 9, 2014 2:09pm
Quoting irongoose
{quote} Sometimes inside a channel you'll get higher lows and higher highs as you can see at the left,but on the right you'll also notice how the price is respecting the upper part of the channel. If tonight's news on the Aussie is good and China also maybe it will go up, and if the US news is bad tomorrow. {image} {image}

i see that, price does seem to be in a channel.
the reason why i would think these higher highs/lows might be the turning point in the downtrend is because we are at the previously weekly low, if it were at 50% retrace of previous weekly low i wouldn't care about hhs/hls.

i actually decided to take a buy again on 15min chart again, couldn't resist because of where it is on weekly and h1 higher low.
but anyway i could be wrong
thanks for posting your charts, interesting to see your point of view.

buy aud/usd 0.8886
  • #71,345
  • Jan 9, 2014 2:18pm Jan 9, 2014 2:18pm
@wanaBtrader.......... ur aurgument is technically strong....... but its totally depends upon tommarrow's data.......
  • #71,346
  • Jan 9, 2014 2:38pm Jan 9, 2014 2:38pm
Quoting wannabtrader
{quote} i see that, price does seem to be in a channel. the reason why i would think these higher highs/lows might be the turning point in the downtrend is because we are at the previously weekly low, if it were at 50% retrace of previous weekly low i wouldn't care about hhs/hls. i actually decided to take a buy again on 15min chart again, couldn't resist because of where it is on weekly and h1 higher low. but anyway i could be wrong thanks for posting your charts, interesting to see your point of view. buy aud/usd 0.8886

Its all guess work anyway.
  • #71,347
  • Jan 9, 2014 2:41pm Jan 9, 2014 2:41pm
Quoting irongoose
{quote} Its all guess work anyway.
You might get a nice spick above the upper channel line of 35- 40 pips as they do some stop loss hunting before it gos down.
  • #71,348
  • Jan 9, 2014 3:00pm Jan 9, 2014 3:00pm
Choppy pair this has been, if you decide to sell here, why put SL at 89.3x? The past few weeks we have been trading the range of 885-895(profit taking pop up to 90)...therefore the chances are highly likely we are going to continue riding the roller coaster
  • #71,349
  • Jan 9, 2014 3:04pm Jan 9, 2014 3:04pm
Quoting Paulenok
Choppy pair this has been, if you decide to sell here, why put SL at 89.3x? The past few weeks we have been trading the range of 885-895(profit taking pop up to 90)...therefore the chances are highly likely we are going to continue riding the roller coaster
Risk management.
  • #71,350
  • Jan 9, 2014 3:14pm Jan 9, 2014 3:14pm
finally... been waiting all day for this breakout. shooting for 8915

many other pairs better to trade today.. like audnzd
Be hopeful in a winning position, and fearful in a losing position.
  • #71,351
  • Jan 9, 2014 3:18pm Jan 9, 2014 3:18pm
Quoting Rag2RichesFX
finally... been waiting all day for this breakout many other pairs better to trade today.. like audnzd
Its near the end of the day, I would expect some movement.
  • #71,352
  • Jan 9, 2014 3:59pm Jan 9, 2014 3:59pm
Time to hammer this down after a false breakout for the big banks ...
Fix up, trade sharp ...
  • #71,353
  • Jan 9, 2014 4:04pm Jan 9, 2014 4:04pm
Quoting Hickson
Time to hammer this down after a false breakout for the big banks ...
I wouldn't call that much of a breakout. More like traders closing out before they have to pay a Swap fee.
  • #71,354
  • Jan 9, 2014 4:09pm Jan 9, 2014 4:09pm
LOL ... as if one would go out just because of the swap
Fix up, trade sharp ...
  • #71,355
  • Jan 9, 2014 4:10pm Jan 9, 2014 4:10pm
Quoting Hickson
Time to hammer this down after a false breakout for the big banks ...
if we stay and close above 8888 for the next 2 hours its bullish

if we dont, its 8850


if we do, 9100 possible over time.. with tomorrows target at 8945 and 8965
Be hopeful in a winning position, and fearful in a losing position.
  • #71,356
  • Jan 9, 2014 4:15pm Jan 9, 2014 4:15pm
To be honest: I have no idea. All I see on the chart is that the overall longterm trend is clearly bearish on this pair.
Fix up, trade sharp ...
  • #71,357
  • Jan 9, 2014 4:16pm Jan 9, 2014 4:16pm
Quoting Rag2RichesFX
{quote} if we stay and close above 8888 for the next 2 hours its bullish if we dont, its 8850 if we do, 9100 possible
I think tonight's news is what will really drive this pair up or down.
  • #71,358
  • Jan 9, 2014 4:20pm Jan 9, 2014 4:20pm
Might be an effect. The market is a phenomenom of mass psychology.
Fix up, trade sharp ...
  • #71,359
  • Jan 9, 2014 4:21pm Jan 9, 2014 4:21pm
AUD/NZD setting up here for potential bounce.


Watch closely.
  • #71,360
  • Edited 5:03pm Jan 9, 2014 4:39pm | Edited 5:03pm
Market may slow down later as traders wait for NFP during US session. Until then:

AUDUSD – TA shorts sold on break of last hour’s “pin-bar” at 0.8896. Sudden buy stops appearing 0.8910/15.
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