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AUD/USD

  • #85,581
  • Oct 22, 2014 8:26am Oct 22, 2014 8:26am
im heavy short we haven't been able to hold above tl on 1 hr at all weak bounce off good news and now dollar strength today and gold prices dragging AU down too coupled with engulfing candle.
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  • #85,582
  • Oct 22, 2014 8:28am Oct 22, 2014 8:28am
8740-8750 area after passed, no long is valid.

8800-8810 area after what short is not valid.

Today we have news from AUD and NZD.

Im short, but have some thoughts, AUD is the strongest one against USD atm. If night news negative expect it to go down a lot. Otherwise Im just BE

But true no point to get into the trade!!! If you are BE then good, if you Buy try to loose as less as possible
  • #85,583
  • Oct 22, 2014 8:29am Oct 22, 2014 8:29am
Hmmm. This is where I would've drawn my 1 HR trend lines. Still looks bullish after a bounce and will stay that way unless it gets under the bottom line.
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There's always money in the banana stand.
  • #85,584
  • Oct 22, 2014 8:30am Oct 22, 2014 8:30am
good place to add to shorts

headed to bottom of range
  • #85,585
  • Oct 22, 2014 8:36am Oct 22, 2014 8:36am
Quoting LizardGizzard
Hmmm. This is where I would've drawn my 1 HR trend lines. Still looks bullish after a bounce and will stay that way unless it gets under the bottom line. {image}
this is what im seeing with a test back down to around 1.874

I was long from 1.8755 but weak tests of .88 lead me to feel bears still in control.
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  • #85,586
  • Oct 22, 2014 8:39am Oct 22, 2014 8:39am
To be true, then we can go up and down.. They are equal atm. Its not good place to be up or down. Just wait and let the market give U a hint.

Im short and BE. As I got a good seat, tho AUD looks strong realy strong
  • #85,587
  • Oct 22, 2014 8:44am Oct 22, 2014 8:44am
Quoting thegmann
{quote} this is what im seeing with a test back down to around 1.874 I was long from 1.8755 but weak tests of .88 lead me to feel bears still in control. {image}
Gmann, serious question. Is your chart missing some data? I'm seeing that we tested 8740 last night and rejected it. no?
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There's always money in the banana stand.
  • #85,588
  • Oct 22, 2014 8:45am Oct 22, 2014 8:45am
Hi Guys. I hope everyone is well and happy. I know we have traders here who are either scalp traders or swing traders in sell or buy direction. But, please look at the weekly chart and you could see the price has already been bottomed and what we are witnessing is pure accumulation by market makers before the price reaches 0.90. Of course, this is my opinion based on 10 years of trading Forex. Good luck to all.
  • #85,589
  • Oct 22, 2014 8:47am Oct 22, 2014 8:47am
Quoting LizardGizzard
{quote} Gmann, serious question. Is your chart missing some data? I'm seeing that we tested 8740 last night and rejected it. no? {image}
don't have a test on my chart....that's really weird...
  • #85,590
  • Oct 22, 2014 9:16am Oct 22, 2014 9:16am
Quoting thegmann
{quote} don't have a test on my chart....that's really weird...
Hmmm, yeah it comes down to about 45 on my OANDA and on my tradingview. It hit and bounced directly off of my trendline, which is why I thought that bar to be so significant.
There's always money in the banana stand.
  • #85,591
  • Oct 22, 2014 9:19am Oct 22, 2014 9:19am
Quoting mrhb30jr
hi all, i see 3rd fakey candle in progress .... bearish move...... to test the support or continue .... let see and watch closely ... patience.... 1hr tf ...its starting falling........ cheers {image} {image}
hi all,

Open short position now..... M5 ..

cheers
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  • #85,592
  • Oct 22, 2014 9:24am Oct 22, 2014 9:24am
As long as bears hold it below 8803 shorts are safe. Even above that, lots of resistance on the upside, but suggest SL a few pips above 8803 for any shorts.
  • #85,593
  • Oct 22, 2014 9:28am Oct 22, 2014 9:28am
Attached Image
There's always money in the banana stand.
  • #85,594
  • Oct 22, 2014 9:29am Oct 22, 2014 9:29am
Ha ha. Sry, was playing around with meme generator and had to do it.
There's always money in the banana stand.
  • #85,595
  • Oct 22, 2014 9:30am Oct 22, 2014 9:30am
Quoting LizardGizzard
Ha ha. Sry, was playing around with meme generator and had to do it.
You're scaring me
  • #85,596
  • Oct 22, 2014 9:32am Oct 22, 2014 9:32am
Quoting LizardGizzard
Ha ha. Sry, was playing around with meme generator and had to do it.
Seriously, though, if this thing ever decides a clear direction long, I'll gladly jump on board. Not sure how anyone could be confident in the near term with long positions after price has clearly shown it can't stay above 8803? Gets slammed down every time. Anyway, guess we'll know eventually
  • #85,597
  • Oct 22, 2014 9:37am Oct 22, 2014 9:37am
Quoting benaiah
{quote} Seriously, though, if this thing ever decides a clear direction long, I'll gladly jump on board. Not sure how anyone could be confident in the near term with long positions after price has clearly shown it can't stay above 8803? Gets slammed down every time. Anyway, guess we'll know eventually
I agree that it needs some decisiveness. The interesting thing about trading is how two people can look at the very same chart and see different things. I'm seeing an inability for price to fall while you are seeing an inability for it to rise. Well, eventually ONE of us will be correct.
There's always money in the banana stand.
  • #85,598
  • Oct 22, 2014 9:41am Oct 22, 2014 9:41am
Quoting LizardGizzard
{image}
Hah. the old fashioned goader.
The coincidental success is more dangerous than the expected failure
  • #85,599
  • Oct 22, 2014 9:49am Oct 22, 2014 9:49am
Bears smell food
  • #85,600
  • Oct 22, 2014 9:50am Oct 22, 2014 9:50am
Quoting LizardGizzard
{quote} I agree that it needs some decisiveness. The interesting thing about trading is how two people can look at the very same chart and see different things. I'm seeing an inability for price to fall while you are seeing an inability for it to rise. Well, eventually ONE of us will be correct.
Not saying you or anyone is wrong. Just saying I'm not comfortable or confident trading against a barrier. If it breaks out, great. But there is resistance upward and downward. We are just closer to the upward resistance right now.

Until price breaks out of resistance, my approach is trade away from it, not against it.

However, having said all of that, it is becoming more difficult to trade the ranges with this thing, as the volatility is increasing. Break out soon?
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