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AUD/USD

  • #85,361
  • Oct 20, 2014 8:17pm Oct 20, 2014 8:17pm
What stands out to me is the line in the sand drawn at 8803 by the bears.

Bulls could not even reach it today. Not been an hourly close at or above it for 4 days.

It looks to me like a top has formed for today's little bull push. Unless of course, SuperBull shows up
  • #85,362
  • Oct 20, 2014 8:24pm Oct 20, 2014 8:24pm
I think the number is not going to be lower then expect.The lowest was 7.4
  • #85,363
  • Oct 20, 2014 9:06pm Oct 20, 2014 9:06pm
Wow anyone trading that news had better have had big stop loses!
  • #85,364
  • Oct 20, 2014 9:13pm Oct 20, 2014 9:13pm
Quoting irongoose
Wow anyone trading that news had better have had big stop loses!
or just went long
  • #85,365
  • Oct 20, 2014 9:14pm Oct 20, 2014 9:14pm
Strong resistance at 0.881x I think this is it, running out of steam. Picked up a couple pips.
Be like water making its way through cracks.
  • #85,366
  • Oct 20, 2014 9:32pm Oct 20, 2014 9:32pm
Maybe the bull trap is in place.
There's always money in the banana stand.
  • #85,367
  • Oct 20, 2014 9:32pm Oct 20, 2014 9:32pm
Yes. Goodbye Longs.
The coincidental success is more dangerous than the expected failure
  • #85,368
  • Oct 20, 2014 9:44pm Oct 20, 2014 9:44pm
Quoting thegmann
{quote} or just went long
Nothing like guessing and getting it right yes?
  • #85,369
  • Oct 20, 2014 9:45pm Oct 20, 2014 9:45pm
Quoting Neqrotik
Yes. Goodbye Longs.
Maybe there is another option? Look at your charts and read what it tells you. Maybe gambling and guessing and fortune telling aren't the greatest traits for a successful trader to employ during his decision process?

Maybe see You all at .8833
Let the market decide!
  • #85,370
  • Oct 20, 2014 9:50pm Oct 20, 2014 9:50pm
This is no time to enter a trade on this pair, I'd wait until I saw a clear stop run of either .8814 or .8750.
  • #85,371
  • Oct 20, 2014 9:58pm Oct 20, 2014 9:58pm
Quoting irongoose
This is no time to enter a trade on this pair, I'd wait until I saw a clear stop run of either .8814 or .8750.
I think good advice. This thing is still in consolidation, and will reverse on a dime.
  • #85,372
  • Oct 20, 2014 10:02pm Oct 20, 2014 10:02pm
I'm not sure what it will do and many times it just runs off without you I just know now or even just before that news was a bad to to enter a trade.
  • #85,373
  • Oct 20, 2014 10:06pm Oct 20, 2014 10:06pm
Quoting irongoose
{quote} Nothing like guessing and getting it right yes?
What about something like an OCO during a news event? I don't do a lot with AUD/USD but in the case of eur/usd and if it's important you usually notice 3-4 bullish spikes which tells you it's bullish or the same with bearish candles. With A/U its a bit weird, its one big friggin spike but an oco should resolve that unless there's a whipsaw and then you need to get back in depending on which candle it hit. But yeah during a news event you're better off just staying on the sidelines.
  • #85,374
  • Oct 20, 2014 10:10pm Oct 20, 2014 10:10pm
I'm sorry I don't know what you mean by OCO
  • #85,375
  • Oct 20, 2014 10:11pm Oct 20, 2014 10:11pm
Quoting irongoose
I'm sorry I don't know what you mean by OCO
http://www.fxcm.com/resources/video-...ex-oco-orders/ Essentially for one type of OCO, you place your order and it marks an area for a buy n sell, should the spike hit the top, it'll be a long and the sell order cancels out, but if it hits the bottom of course it's a short and continues on downwards and the buy order cancels out automatically.
  • #85,376
  • Oct 20, 2014 10:12pm Oct 20, 2014 10:12pm
Quoting LizardGizzard
Maybe the bull trap is in place.
IMO USD still have underlying strength to it, price action shown bulls running out of steam. If 89 cents were to pop it would've pop already. Looking for some stops zone shoot high and short from there.
Be like water making its way through cracks.
  • #85,377
  • Oct 20, 2014 10:17pm Oct 20, 2014 10:17pm
Quoting fxtradeabi
{quote} http://www.fxcm.com/resources/video-...ex-oco-orders/ Essentially for one type of OCO, you place your order and it marks an area for a buy n sell, should the spike hit the top, it'll be a long and the sell order cancels out, but if it hits the bottom of course it's a short and continues on downwards and the buy order cancels out automatically.
I don't have FXCM and I rarely place more then one order at a time and when I do its a market order and I put in my stops as fast as I can! I usually avoid news altogether unless I fully understand the impact the news will have and there is enough time to get in.
  • #85,378
  • Oct 20, 2014 10:20pm Oct 20, 2014 10:20pm
Price looks like now that they are trying to sucker people short and put their stops around .8807.
  • #85,379
  • Oct 20, 2014 10:30pm Oct 20, 2014 10:30pm
Quoting irongoose
{quote} I don't have FXCM and I rarely place more then one order at a time and when I do its a market order and I put in my stops as fast as I can! I usuall....
I'm not on FXCM either so I just place a buy/sell limit order with a gap of 5 pips during a news event and glue myself to the screen for those 5 mins. If one gets hit, I'll grab whatever I can and then watch if it'll pullback should it go in the other direction like it did with A/U now on the first bearish candle and then went all crazy bull. It happens all so fast so if you can't be quick you'd get fried.
  • #85,380
  • Oct 20, 2014 10:32pm Oct 20, 2014 10:32pm
  •  EDG
  • | Joined Feb 2007 | Status: Nothing is fixed. Keep an open mind | 229 Posts
aud likely to aim for 8830 provided 8760 holds.
Hindsight is useless if you never learn anything out from it
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