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AUD/USD

  • #77,141
  • May 7, 2014 10:18am May 7, 2014 10:18am
Quoting VaBikePacker
{quote} I agree with you on the target. I agree with it taking a bit too. (long at 335 here also and I'm not afraid to add to it in the event of a pullback beyond entry..) 360 - 370 looks as it could be a sticky area to move north through. Nice entry on yours Petra...
In times gone by, we could expect to see those targets in 1 day-- 2 at most. 100 pip days were normal. Now a 100 pip day is a suprise. This business has really changed in the last 1-2 years.
  • #77,142
  • May 7, 2014 10:55am May 7, 2014 10:55am
Quoting FX-Petra
{quote} In times gone by, we could expect to see those targets in 1 day-- 2 at most. 100 pip days were normal. Now a 100 pip day is a suprise. This business has really changed in the last 1-2 years.
I know I keep bringing up that .9467 target. It has been on my "radar" since 4/23. I remember "long ago" (pre crash) AUD running the distance from here to there in a day with no news. I was focusing in on the EUR/USD back in those days. After this re-intro to trading live again and choosing to focus here on the AUD/USD for now, I'm surprised at what it takes for it to move as well. It has certainly become a "patience pair"

.9202 did make it to the radar here as well, so, I'm seeing a channel as you can imagine that we're kinda in the middle of. Show me one of those two and I'll make my next move. For the moment, I'm holding long with my short account flat (by accident...no MC, just goofed up and closed a trade I didn't mean to, so, I went ahead and just flattened it out for now...Overall I'm still net ahead...)

(A) My opinion at the moment is to start shorting on potential news spikes this evening to the 370's and be willing to hold those up to the 460's for a pullback to the sub 300's....

(B) Opposite could be true though as well. I have no hesitation holding this 335 to the sub 300's and even potentially down to that 202 if it occurs soon. If we see that area, I'll be "loading the boat" with AUD for a northern trip.

I consider option A more plausible in the near term and still will hold this long without hesitation and add to it. At 12610 pips to crap out with it, and it paying to hold, I certainly ain't scared.

..time to walk away with alerts set and let it do what it's going to do when it's going to do it...

24 total trades since starting to trade again (4/21). 3 losers. Shamefully all of the losers would've won with more patience.
"Holy Grail" exists - accepting where is the first step.
  • #77,143
  • May 7, 2014 4:46pm May 7, 2014 4:46pm
A.U has remained flat at this main pivot. I have a pending buy at .93449 I would take a guess that the move up would start at that price as that has been a very big resistance for A/U the past 20 hours. That price has been accumulated and rejected 5 times within the last 20 hours!
Attached Image
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,144
  • May 7, 2014 7:17pm May 7, 2014 7:17pm
.9300 got rejected from the bottom a number of times too...just needs to build some momentum.
"Holy Grail" exists - accepting where is the first step.
  • #77,145
  • May 7, 2014 7:44pm May 7, 2014 7:44pm
Hi Guys,

Daily Analysis,

AU on uptrend, retracement at .0315/20, swing buy with TP1 .9355/60, TP2 .9465/70, TP3 .9380/85 IF Breakout sell with TP1 .9305/10, TP2 .9205/00, TP3 .9275/80.

Good luck
  • #77,146
  • May 7, 2014 7:45pm May 7, 2014 7:45pm
Here is our new daily pivot for A/U Do you see the move which occured... One move hit the middle pivot, and the other hit the main pivot....
Attached Image
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,147
  • May 7, 2014 8:05pm May 7, 2014 8:05pm
Overall trend is down on AU. So the unemployment news should give us a trend reversal for the short term. I like a move up after the news.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,148
  • May 7, 2014 8:21pm May 7, 2014 8:21pm
Quoting Barca
Hi Guys, Daily Analysis, AU on uptrend, retracement at .0315/20, swing buy with TP1 .9355/60, TP2 .9465/70, TP3 .9380/85 IF Breakout sell with TP1 .9305/10, TP2 .9205/00, TP3 .9275/80. Good luck
yes your correct AU is on an uptrend but on H4 longing before a green candle close is dangerous if your swinging this pair.
Attached Image
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,149
  • May 7, 2014 8:25pm May 7, 2014 8:25pm
short from 0.9339 and targeting 0.9225 ( SL @ BE )
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #77,150
  • May 7, 2014 8:33pm May 7, 2014 8:33pm
See there you go! Short term big spike up and I took profit.
Attached Image (click to enlarge)
Click to Enlarge Name: bigprofit.PNG Size: 241 KB
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,151
  • May 7, 2014 8:38pm May 7, 2014 8:38pm
guys did u see the upward spike
i was timing my additional long
  • #77,152
  • May 7, 2014 8:45pm May 7, 2014 8:45pm
Quoting ScalpLikeMe
See there you go! Short term big spike up and I took profit. {image}
If news had of been negative you would have likely got a margin call. I don't know your strategy but if your looking to make the account last you may want to look up money management.

Well done however.
As the lights go by so too do the shadows move
  • #77,153
  • May 7, 2014 8:47pm May 7, 2014 8:47pm
Hes trading peanuts.
  • #77,154
  • May 7, 2014 8:51pm May 7, 2014 8:51pm
Quoting Matts Micro
{quote} If news had of been negative you would have likely got a margin call. I don't know your strategy but if your looking to make the account last you may want to look up money management. Well done however.
PRECISELY what he said...Money management...

Be careful - catching a falling knife can make you bleed. The way you treat small numbers is the way you'll more than likely treat big numbers.

...there are plenty of areas where being lucky is preferred to being good. This isn't one of them.
"Holy Grail" exists - accepting where is the first step.
  • #77,155
  • May 7, 2014 8:52pm May 7, 2014 8:52pm
Quoting Rizmeister
Hes trading peanuts.
True, but it's about learning how to trade one peanut at a time (if he's newb) until he knows how to feed the elephant.
As the lights go by so too do the shadows move
  • #77,156
  • May 7, 2014 8:53pm May 7, 2014 8:53pm
Quoting Matts Micro
{quote} If news had of been negative you would have likely got a margin call. I don't know your strategy but if your looking to make the account last you may want to look up money management. Well done however.
Well my strategy is rather complex and I don't really reveal it. Yet, I was able to hit this trade right on the head because of what I have been mentioning to many of you all along. Simply look at the trend of a currency the last 24 hours before market movement events. You will notice that the trend almost ALWAYS reverses in the short term. Being that the trend on AU has been RED for the last last 24 hours, do you really think that the price would of continued to drop when everyone is favoring the sell position?
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,157
  • May 7, 2014 8:53pm May 7, 2014 8:53pm
Quoting Matts Micro
{quote} True, but it's about learning how to trade one peanut at a time (if he's newb) until he knows how to feed the elephant.

I agree. Just saying it won't be too bad if he flops. Bad habits will be created though. Trading news is no bueno.
  • #77,158
  • May 7, 2014 8:57pm May 7, 2014 8:57pm
Quoting VaBikePacker
{quote} PRECISELY what he said...Money management... Be careful - catching a falling knife can make you bleed. The way you treat small numbers is the way you'll more than likely treat big numbers. ...there are plenty of areas where being lucky is preferred to being good. This isn't one of them.
Money management is key, but I don't use it as most do. I use several accounts which all over the previous trade. This one account is only to play big time market movement events. I don't invest/hope for a position as many of you do. Those who trade news events almost always have the same results. As I said look at the stats of news events compared to the overall trend. The results will surprise you.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #77,159
  • May 7, 2014 8:58pm May 7, 2014 8:58pm
Bring on .9400. They want to shake those who jumped on after news then they will move...


PS I hope hehehehehhehe
  • #77,160
  • May 7, 2014 8:58pm May 7, 2014 8:58pm
Quoting Rizmeister
{quote} I agree. Just saying it won't be too bad if he flops. Bad habits will be created though. Trading news is no bueno.
You guys can harp on it and be pessimistic about what has happened. Profit closed and regular trading will presume. Those who trade the data get burned, those who trade the formations and the stats leading up to the news are the ones who earn the profit as I did.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
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