H4 seems rejecting . Too early to tell tho.
- #78,725
- Jun 4, 2014 7:38pm Jun 4, 2014 7:38pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #78,726
- Jun 4, 2014 7:43pm Jun 4, 2014 7:43pm
{quote} Even if we do...range is garbage and until we break and hold above support or below resistance...not enough range to be bothered with... Just a shit zone... Not a bull trap, not a bear trap...a suckers trap! {image}
- #78,734
- Jun 4, 2014 11:11pm Jun 4, 2014 11:11pm
- Joined Jun 2012 | Status: ケンジ | 21,416 Posts
Look at the bigger picture where the money will go ....
- #78,735
- Jun 4, 2014 11:17pm Jun 4, 2014 11:17pm
- Joined Jul 2013 | Status: Trader | 1,731 Posts
Look at the bigger picture where the money will go .... {image}
, The "Mario Power" is going to fuel the market and can also determine medium term movement of EU pairs.Moreover, the Aussie trades into ascending trend channel with the major intraday support at 0.9270, coinciding lower line of the channel and 40-EMA on H1 chart. IMHO, buying at 0.9272-73 are with SL of 0.9270 and 0.9290 can be a good strategy.
- #78,737
- Jun 4, 2014 11:56pm Jun 4, 2014 11:56pm
{quote} so? I shorted aud form 0.97 last year, and add short at each bounce, closed all short orders in Jan this year. I really don't care swap. 30 lots avg sell position around 0.94. then close them around 0.8750. profits much greater than swaps. If i care swaps, I will purchase financial plan provided from Chinese banks or Alipay, they can gurantee interest around 6.5% a year When Chinese have difficulty in selling real estate and manufactures leaving AU, I will not long AUD above 0.93.
- #78,738
- Jun 5, 2014 12:57am Jun 5, 2014 12:57am
{quote} so? I shorted aud form 0.97 last year, and add short at each bounce, closed all short orders in Jan this year. I really don't care swap. 30 lots avg sell position around 0.94. then close them around 0.8750. profits much greater than swaps. If i care swaps, I will purchase financial plan provided from Chinese banks or Alipay, they can gurantee interest around 6.5% a year When Chinese have difficulty in selling real estate and manufactures leaving AU, I will not long AUD above 0.93.
For you info, there are different type of SWAP traders in FX; there are hedge traders and carry traders (who speculates) and etc. Not all the time the chart follows the news, sometimes it goes against the truth. As you see, even if there is a negative news for the Aussie, the Hedge fund companies, who are one of the big bro traders, don't give a shit for as long as the price has reached their target. Sometimes they buy more and hedge it or do some arbitrage. I work in treasury as an FX trader, in the real market, the spreads are tight and it runs very smooth. My point is, SWAP is not a crap, you can eventually benefit from it if you know how it works. But I think most of swap traders are hedgers. I'm not contradicting you because I'm also an Aussie bear, but I will not hold it for more than one day because at this levels (below .9300) I think hedgers are coming in, which definitely gives her a strong support
- #78,740
- Jun 5, 2014 1:30am Jun 5, 2014 1:30am
- Joined Jan 2011 | Status: dump and pump | 4,055 Posts
All posts are my personal opinion