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AUD/USD

  • #86,461
  • Nov 4, 2014 4:06am Nov 4, 2014 4:06am
Hi Jenx, having read your nice analysis of accumulation also answered your thread on what you called "Oppositional Thinking" , please see my post there
Quoting Jenx
An idea that I adopted a while ago was that the forex market operates in a way that is in opposition to how traditional markets operate in relation to demand and supply.
Siddhartha G
  • #86,462
  • Nov 4, 2014 4:07am Nov 4, 2014 4:07am
Quoting MaryAnne
{quote} thats the thing my friend. W1 charts take longer time to play out thats why i said only if u are willing to hold longer term past the next few mini cycles. e.g. people saying gbp should bounce high, UJ should drop hard based on w1 but look where we are today? they are right, but trades based on w1 take way longer to pan out usually months. better for longer term traders
Thank you for your useful and comments. Yes, agreed and I am also long on this all the way to 0.90.
  • #86,463
  • Nov 4, 2014 4:09am Nov 4, 2014 4:09am
Quoting Fx-opinion
{quote} Thank you for your useful and comments. Yes, agreed and I am also long on this all the way to 0.90.

money can be made both ways up or down, lets chase the pips. I aim for high turnover of trades tho for profitability here
Right now I am with you on the long train, though my station is nearer at .8885 - .8910 while you drop off at .900
  • #86,464
  • Nov 4, 2014 4:11am Nov 4, 2014 4:11am
Quoting MaryAnne
{quote} money can be made both ways up or down, lets chase the pips. I aim for high turnover of trades tho for profitability here Right now I am with you on the long train, though my station is nearer at .8885 - .8910 while you drop off at .900
I will not tell you good luck but I will tell you nice move because I am very sure on this. I know you can never be sure on anything in Forex, however, I am very sure on this baby.
  • #86,465
  • Nov 4, 2014 4:42am Nov 4, 2014 4:42am
I'm not so experienced trader but i'm on the sell side this time. After touching the 8780-8800 zone the price is likely to go down again
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 48 KB
  • #86,466
  • Nov 4, 2014 4:50am Nov 4, 2014 4:50am
I am hoping for a potential double bottom by tomorrow.
  • #86,467
  • Nov 4, 2014 5:00am Nov 4, 2014 5:00am
Quoting allex82
I'm not so experienced trader but i'm on the sell side this time. After touching the 8780-8800 zone the price is likely to go down again{image}
What is your entry and TP?
  • #86,468
  • Nov 4, 2014 5:14am Nov 4, 2014 5:14am
Quoting allex82
I'm not so experienced trader but i'm on the sell side this time. After touching the 8780-8800 zone the price is likely to go down again{image}
yeahh...cant believe people talking about .90 .... again :nerd: it is coming...but not et
  • #86,469
  • Nov 4, 2014 5:34am Nov 4, 2014 5:34am
.8640 area has been confirmed as a firm support, if bear want to break this level, this pair has broken this level when news released.
FTA has great impact on AU economy, only if FTA can't be signed for political reason, otherwise this pair at least stay in .8640- .89 area.
  • #86,470
  • Nov 4, 2014 5:39am Nov 4, 2014 5:39am
Quoting Isingh
Hi Jenx, having read your nice analysis of accumulation also answered your thread on what you called "Oppositional Thinking" , please see my post there {quote}
Hello Isingh
I've just had a look.Very good description you give there.All we need to do is see them doing it and copy.I read a very good book recently called "Time Compression Trading" and although a lot of it is just basic VSA, it does give a nice analysis of the difference between winners and losers.
I have to admit my trading only became consistent once I started to think outside the box, use common sense, bin the indicators and technical analysis, and look at the longer tfs.I now see anything below H4 as noise.
As for those doubting .90, have you actually LOOKED (I mean zoom out) at the monthly chart? We are in a major,solid UPTREND.
0.90? I'm thinking more along the lines of 1.10/12 so long as swap stays positive.
Where price is now, it has been before, and will be again.
  • #86,471
  • Nov 4, 2014 5:59am Nov 4, 2014 5:59am
Quoting Lamira
{quote} yeahh...cant believe people talking about .90 .... again :nerd: it is coming...but not et
If you are scalping yes you are right and talking about 0.90 will of course be illogical. However, traders who talk about 0.90 are not scalping and LONGS.
  • #86,472
  • Nov 4, 2014 6:01am Nov 4, 2014 6:01am
Quoting Jenx
{quote} Hello Isingh I've just had a look.Very good description you give there.All we need to do is see them doing it and copy.I read a very good book recently called "Time Compression Trading" and although a lot of it is just basic VSA, it does give a nice analysis of the difference between winners and losers. I have to admit my trading only became consistent once I started to think outside the box, use common sense, bin the indicators and technical analysis, and look at the longer tfs.I now see anything below H4 as noise. As for those doubting...
Wow, 1.10/12
  • #86,473
  • Nov 4, 2014 6:29am Nov 4, 2014 6:29am
Quoting Fx-opinion
{quote} If you are scalping yes you are right and talking about 0.90 will of course be illogical. However, traders who talk about 0.90 are not scalping and LONGS.
I'm not scalping either. It's just not a time to hit .90 also to hit .90 you probably want to buy deeper..... or I maybe I'm just too blonde to understand all that "rush to .90" thing while here is clear that it's will sinks down deeper BEFORE it will go buck to .90 in that impulsive downtrend?
Just every time aud moving up on intra day terms all I see " OMG it's gonna hit .90 !"
  • #86,474
  • Nov 4, 2014 6:35am Nov 4, 2014 6:35am
Quoting Lamira
{quote} I'm not scalping either. It's just not a time to hit .90 also to hit .90 you probably want to buy deeper..... or I maybe I'm just too blonde to understand all that "rush to .90" thing while here is clear that it's will sinks down deeper BEFORE it will go buck to .90 in that impulsive downtrend? Just every time aud moving up on intra day terms all I see " OMG it's gonna hit...
well. ..I wish it will. Cause I'm long at that time... but... really? ??!
  • #86,475
  • Nov 4, 2014 6:48am Nov 4, 2014 6:48am
Quoting Lamira
{quote} I'm not scalping either. It's just not a time to hit .90 also to hit .90 you probably want to buy deeper..... or I maybe I'm just too blonde to understand all that "rush to .90" thing while here is clear that it's will sinks down deeper BEFORE it will go buck to .90 in that impulsive downtrend? Just every time aud moving up on intra day terms all I see " OMG it's gonna hit .90 !"
If anyone has posted that 0.90 is coming today or by the end of this week then your point is valid. What we longs are talking about is our Target Profit. Of course, some longs here are having target profit of 0.89xxx, 0.90, 0.90390 and 0.90xxx. If you are still upset about others posting Target Profit of 0.90 then simply PLEASE IGNORE THEM
  • #86,476
  • Nov 4, 2014 6:52am Nov 4, 2014 6:52am
I am not ashamed to say I expect a TP around .8885 before the next retest down and I expect this within 1 week

Only then, I can see a next bounce higher. If this plays out
  • #86,477
  • Nov 4, 2014 6:53am Nov 4, 2014 6:53am
Quoting MaryAnne
I am not ashamed to say I expect a TP around .8885 before the next retest down and I expect this within 1 week Only then, I can see a next bounce higher. If this plays out
Do you mean this will happen by next Friday? If yes, what is your reasoning?
  • #86,478
  • Nov 4, 2014 7:00am Nov 4, 2014 7:00am
I'>
Quoting Lamira
{quote} I'm not scalping either. It's just not a time to hit .90 also to hit .90 you probably want to buy deeper..... or I maybe I'm just too blonde to understand all that "rush to .90" thing while here is clear that it's will sinks down deeper BEFORE it will go buck to .90 in that impulsive downtrend? Just every time aud moving up on intra day terms all I see " OMG it's gonna hit...
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Hello LamiraForgive me, but I am not being fascicious in asking why you feel it "must" go deeper before 0.9.I'm not saying it wont, its just that the forex market doesnt "have" to do anything.What if, for instance, it just flops about for a couple of days and then the fed decide to use Fridays NFP to start weakening the usd?
Where price is now, it has been before, and will be again.
  • #86,479
  • Nov 4, 2014 7:01am Nov 4, 2014 7:01am
Quoting Fx-opinion
{quote} Do you mean this will happen by next Friday? If yes, what is your reasoning?

I am trying to apply a system here which I been practising. So far, quite a number of trades worked out fine - you need momentum to break certain key levels and it seems if price revisits these levels too early = high chance of it being rejected. Means Door still remains locked for D1 closing If you want a good chance to closing above .8910 it should not be too soon after previous test. Same goes for chance of closing new bottoms... check it and see...

Anyway this is also a learning experience for me To observe and note failure (s) when they arise and find out why
  • #86,480
  • Nov 4, 2014 7:03am Nov 4, 2014 7:03am
Quoting Lamira
{quote} I'm not scalping either. It's just not a time to hit .90 also to hit .90 you probably want to buy deeper..... or I maybe I'm just too blonde to understand all that &quot;rush to .90&quot; thing while here is clear that it's will sinks down deeper BEFORE it will go buck to .90 in that impulsive downtrend? Just every time aud moving up on intra day terms all I see " OMG it's gonna hit .90 !"

I think we have roughly same concept. Momentum, right?
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