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AUD/USD

  • #72,801
  • Feb 19, 2014 4:29am Feb 19, 2014 4:29am
might have just started its next bull leg. Lets so if its got the beans to go past 0.9060
  • #72,802
  • Feb 19, 2014 4:40am Feb 19, 2014 4:40am
Quoting shripsfx
might have just started its next bull leg. Lets so if its got the beans to go past 0.9060
.9080 would be a more important level to watch.
The true fact is market doesn't care, risk mgt is important.
  • #72,803
  • Edited 4:59am Feb 19, 2014 4:42am | Edited 4:59am
The best time to short thsi pair is now. after the long wait entry @ 9040 Stop @ 9045
Pecuniae obediunt omnia
  • #72,804
  • Feb 19, 2014 4:42am Feb 19, 2014 4:42am
Given the recent developments, and the reaction to the last print.... tonights HSBC China PMI is probably the most significant risk event of the week. NZD and CAD look like decent sells at current spots if you are bearish on China and expect some help from the FOMC minutes on the USD side.
Twitter: @TrendersGame
  • #72,805
  • Feb 19, 2014 5:35am Feb 19, 2014 5:35am
Quoting 50pipsperday
{quote} I'm short 3 lots and my account is about to bust
Just change your name to minus50pipsperday .
That way , it'll look like you've nailed it ...
  • #72,806
  • Feb 19, 2014 5:42am Feb 19, 2014 5:42am
AUDUSD Cypher Harmonic Pattern on the way to completion at good levels
http://2.bp.blogspot.com/-F74-92DIWE...USD+Cypher.jpg

This is my third post on the Aussie today! This is because after such big swings, Its great for quick scalps and also look for hints on where the market might be heading.
I've been able to capture two small pips scalps from my previous post, resulting a 25% gain on my account (higher risk trade than my usual setup)

Whats exciting for this setup of a Bearish Cypher Pattern is that its in the trend of both higher time frame and shorter time frame.

Shorter time frame (1hr) if you look on the previous 3 days, its been on a up trend. Creating new highs and higher lows, But yesterday you could see we have created new structure lows (lower lows) ,and another low today.

 

  1. Start of bearish trend



Another point is to indicate that at the completion of this pattern / PRZ zone its also at a good resistance area, as well as a Pivot (yesterday's)

 

  1. PRZ at Resistance area
  2. PRZ at Confluence of pivot / fib


So we have very good reason to take a short when price goes there


Word of caution
we have 3 US Data in around few hours, and later we have the FOMC.

Only the strong survives!
  • #72,807
  • Feb 19, 2014 5:53am Feb 19, 2014 5:53am
Quoting 50pipsperday
{quote} I'm short 3 lots and my account is about to bust
Hope you are still hanging in there.
Always trade to the rules you have set, and keep a healthy margin otherwise you are just gambling and not trading.
A genius is born every minute, me I am lucky if my socks match.
  • #72,808
  • Feb 19, 2014 5:56am Feb 19, 2014 5:56am
Quoting whackdiddy
{quote} Hope you are still hanging in there. Always trade to the rules you have set, and keep a healthy margin otherwise you are just gambling and not trading.
Yup, this baby been tricky today. I just don't see any reason for this rise. Right now i am hedging till NY open.
Don't blame the tools. Blame the carpenter.
  • #72,809
  • Feb 19, 2014 6:01am Feb 19, 2014 6:01am
Quoting whackdiddy
{quote} Hope you are still hanging in there. Always trade to the rules you have set, and keep a healthy margin otherwise you are just gambling and not trading.
But it just keeps going up more and more and more, another 100pips and I'm toast.
  • #72,810
  • Feb 19, 2014 6:15am Feb 19, 2014 6:15am
start averaging out your position on retrace and bail!
  • #72,811
  • Feb 19, 2014 6:24am Feb 19, 2014 6:24am
Quoting htsang
AUDUSD Cypher Harmonic Pattern on the way to completion at good levels {image} This is my third post on the Aussie today! This is because after such big swings, Its great for quick scalps and also look for hints on where the market might be heading. I've been able to capture two small pips scalps from my previous post, resulting a 25% gain on my account (higher risk trade than my usual setup) Whats exciting for this setup of a Bearish Cypher Pattern is that its in the trend of both higher time frame and shorter time frame. Shorter time frame (1hr)...
Money Makes Money
  • #72,812
  • Feb 19, 2014 6:25am Feb 19, 2014 6:25am
Quoting Kenjlau
start averaging out your position on retrace and bail!
Why? do you think it will go up more when NY data comes in?
  • #72,813
  • Feb 19, 2014 7:00am Feb 19, 2014 7:00am
Quoting 50pipsperday
{quote} Why? do you think it will go up more when NY data comes in?
Puts some trailing stops on at a low number if you need to get out of your current position, NY coming online and price will fluctuate wildly. Especially with the added bonus of the news being released in half an hour.
A genius is born every minute, me I am lucky if my socks match.
  • #72,814
  • Feb 19, 2014 7:19am Feb 19, 2014 7:19am
PPI calculation change formula. Base on energy, food and finish goods more. Could it be green, because of rising oil price?
Don't blame the tools. Blame the carpenter.
  • #72,815
  • Feb 19, 2014 7:30am Feb 19, 2014 7:30am
Quoting 50pipsperday
{quote} Why? do you think it will go up more when NY data comes in?
Increase volatility expected. But it is more likely to go down for me. USDCAD has start to rise, and usually its an indication of US data release behavior.
Don't blame the tools. Blame the carpenter.
  • #72,816
  • Feb 19, 2014 7:37am Feb 19, 2014 7:37am
Quoting 50pipsperday
{quote} I'm short 3 lots and my account is about to bust
You r not alone....... I am short at 0.9000.... Short too early
  • #72,817
  • Feb 19, 2014 7:54am Feb 19, 2014 7:54am
Quoting Oasis dream
{quote} You r not alone....... I am short at 0.9000.... Short too early
no one gets the perfect entry. Just watch this slowly dump out.
Trade what you see, not what you think!
  • #72,818
  • Feb 19, 2014 7:59am Feb 19, 2014 7:59am
here is your inverted H&S on the Eur/Aud. Unless this pattern fails, this pair is heading back to recent highs. G/L
Attached Image (click to enlarge)
Click to Enlarge Name: ea.jpg Size: 165 KB
Trade what you see, not what you think!
  • #72,819
  • Feb 19, 2014 9:02am Feb 19, 2014 9:02am
Quoting OMGtrader
here is your inverted H&S on the Eur/Aud. Unless this pattern fails, this pair is heading back to recent highs. G/L {image}
I think there are better reference crosses that can be used to gauge the contingent AUD/USD technical break. IMO i think this EUR AUD will be sideways for a bit.
The coincidental success is more dangerous than the expected failure
  • #72,820
  • Feb 19, 2014 1:08pm Feb 19, 2014 1:08pm
this is the weirdest price action pattern. looked like we were going to break out for more upside, now it seems to want to fail but not really moving much.
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