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AUD/USD

  • #83,101
  • Jul 23, 2014 7:39pm Jul 23, 2014 7:39pm
Quoting Greenspanke
{quote} I thought it was a perfect setup for a short but got caught with that spike I still think were on our way down. G {image}
I Don't think its coming down before .9498
Lets see what happens
A good trader follows his rules, but great trader knows when to break them
  • #83,102
  • Jul 23, 2014 7:39pm Jul 23, 2014 7:39pm
Quoting ill_be_back
{quote} Do u see a setup for SHORT now
Not really, except that Stevens thinks AUD is really overvalued right now. But central bankers are usually wrong.
  • #83,103
  • Jul 23, 2014 7:40pm Jul 23, 2014 7:40pm
Quoting card
This is great! Caught short with my pants down (big position). The retrace seeks weak. I think I should get out and move on but it's so damn hard, especially with a position this big and if in a few hours it drops, I'd be kicking myself for not staying put.
I would expect a range of 9435/70 tomorrow , 9490 would cap this move .a rumour is that RBA would intervene if aussie comes to cross 9500 .
afterall you can hedge your position with another cross or get rid of it and move on .
Get Rich or Die Tryin
  • #83,104
  • Jul 23, 2014 7:44pm Jul 23, 2014 7:44pm
Quoting card
{quote} Not really, except that Stevens thinks AUD is really overvalued right now. But central bankers are usually wrong.
Then unless you have deeeep pockets, GET OUT
A good trader follows his rules, but great trader knows when to break them
  • #83,105
  • Jul 23, 2014 7:44pm Jul 23, 2014 7:44pm
Quoting Ck87
{quote} That's always the problem with big positions, makes it way more emotional and way harder to cut the loss and move on. It's a disaster.
My plan for huge position and bigger risk is when I get informed of a barrier option so if the price manages to get close to it the first time I place A BIG POSITION with SL just above the option barrier otherwise I trade small lots so I can handle more than 50 or even 100 pips drawbacks .

edit : more than 80% of my positions get in green after some patience .

edit 2 : in fact I had a pending short at 9450 so I am on the short side right now and I can handle it to +9500 level .
Get Rich or Die Tryin
  • #83,106
  • Jul 23, 2014 7:48pm Jul 23, 2014 7:48pm
Quoting hoom
{quote} I would expect a range of 9435/70 tomorrow , 9490 would cap this move .a rumour is that RBA would intervene if aussie comes to cross 9500 . afterall you can hedge your position with another cross or get rid of it and move on .
I don't hedge and I don't trade highly correlated pairs at the same time. It's either stay put or get out for me. Will make the decision once Europe opens.

Outright intervention doesn't make sense at this level. If we see Aussie going to 1.2 or 1.3 within a short period of time, then sure. Just like the SNB back in 2011. Intervention is almost always done during periods of high volatility, not when nothing is moving that much.
  • #83,107
  • Jul 23, 2014 7:51pm Jul 23, 2014 7:51pm
Quoting ill_be_back
{quote} Then unless you have deeeep pockets, GET OUT
My pockets are pretty deep right now. I've only given back about 50% of my profits for the month. This is a familiar situation for me. Happens a few times a year. I always get out before it hurts too much. Posting here that I'm taking a beating is to ensure that this time around, I don't do something really stupid.
  • #83,108
  • Jul 23, 2014 7:52pm Jul 23, 2014 7:52pm
Quoting ill_be_back
{quote} I Don't think its coming down before .9498 Lets see what happens
I'm ok with that as long as it does not exceed the previous high of .95040 from July 1st we should still
be dropping to below .9327 at least and quite possibly a whole lot more for wave "C".
You're right let's see what happens.
G
I read and watch to learn.
  • #83,109
  • Jul 23, 2014 7:53pm Jul 23, 2014 7:53pm
Quoting card
{quote} I don't hedge and I don't trade highly correlated pairs at the same time. It's either stay put or get out for me. Will make the decision once Europe opens.
me too I dont hedge but in order to stay alive in this market you must have flexibility . it helps a lot to have a big account in first place , if not you should deal with the matter in the appropriate way.
Get Rich or Die Tryin
  • #83,110
  • Jul 23, 2014 7:56pm Jul 23, 2014 7:56pm
Quoting hoom
{quote} me too I dont hedge but in order to stay alive in this market you must have flexibility . it helps a lot to have a big account in first place , if not you should deal with the matter in the appropriate way.
I understand but I just don't want to make it more complicated that it already is. I might just cut my position a bit and see how it goes.

I hope I didn't come off as a newbie who is about to lose everything. I'm definitely not in that position. When I say, "big position" it still is less than 1:10 leverage. Unless we see a 1000 pip move, I should live to see another day.
  • #83,111
  • Jul 23, 2014 8:00pm Jul 23, 2014 8:00pm
no short for au and nzd
not from here
au 9505
nzd 8650
  • #83,112
  • Jul 23, 2014 8:16pm Jul 23, 2014 8:16pm
Quoting julia2011
no short for au and nzd not from here au 9505 nzd 8650

down


  • #83,113
  • Jul 23, 2014 8:19pm Jul 23, 2014 8:19pm
Beautiful move here on AUD/NZD…..
  • #83,114
  • Jul 23, 2014 8:46pm Jul 23, 2014 8:46pm
Quoting card
{quote} My pockets are pretty deep right now. I've only given back about 50% of my profits for the month. This is a familiar situation for me. Happens a few times a year. I always get out before it hurts too much. Posting here that I'm taking a beating is to ensure that this time around, I don't do something really stupid.
GL
A good trader follows his rules, but great trader knows when to break them
  • #83,115
  • Jul 23, 2014 8:48pm Jul 23, 2014 8:48pm
I can't see how aussie can go down when china is printing PMI data in excess of 50. looks headed to 9600.
  • #83,116
  • Jul 23, 2014 9:35pm Jul 23, 2014 9:35pm
Quoting giveachance
I can't see how aussie can go down when china is printing PMI data in excess of 50. looks headed to 9600.
A close above .95040 and I'll consider going long otherwise I'm sticking with my current view. Lets see what happens.
I read and watch to learn.
  • #83,117
  • Jul 23, 2014 10:00pm Jul 23, 2014 10:00pm
AUD/NZD is crummaging………. NZD failure at the all time highs could be sign of trend reversal…


Trying to figure out where to short AUD/NZD… I still think we're going higher… probably to 1.11-1.12 this time..
  • #83,118
  • Jul 23, 2014 10:02pm Jul 23, 2014 10:02pm
Quoting Ck87
AUD/NZD is crummaging………. NZD failure at the all time highs could be sign of trend reversal… Trying to figure out where to short AUD/NZD… I still think we're going higher… probably to 1.11-1.12 this time..
trend reversal?? do you know what is the meaning of trend reversal. usd/jpy from 76 to 105 was a trend reversal. euro from 1.22 to 1.44 was a trend reversal. 0.8700 to 8580 is not a trend reversal
  • #83,119
  • Jul 23, 2014 10:07pm Jul 23, 2014 10:07pm
Quoting giveachance
{quote} trend reversal?? do you know what is the meaning of trend reversal. usd/jpy from 76 to 105 was a trend reversal. euro from 1.22 to 1.44 was a trend reversal. 0.8700 to 8580 is not a trend reversal

Oh, so you're saying once USD/JPY was at 105 then you could define it as a trend reversal? ahahhahahahah
  • #83,120
  • Jul 23, 2014 10:09pm Jul 23, 2014 10:09pm
And I said COULD BE A SIGN of a trend reversal, I didn't say it was one.
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