Attachments: AUD/USD

AUD/USD

#88,061
Edited 4:05pm Dec 4, 2014 3:30pm | Edited 4:05pm

sugarbelly
| Joined Sep 2010 | Status: Trader | 541 Posts

I rather think this is the calm before the storm on friday during the NFP where AU will rocket up. I read some comments about the US job market was doing very well. Really? AU will go up, not because of strength of Aussie Dollar but due to weakness in usd. On top of it all, it's friday and we definitely need a breather from shorting this pair. At least : I do ;-)

#88,062
Dec 4, 2014 4:42pm Dec 4, 2014 4:42pm

Cb92
| Joined Nov 2014 | Status: Trader | 27 Posts

Quoting sugarbelly

Disliked

I rather think this is the calm before the storm on friday during the NFP where AU will rocket up. I read some comments about the US job market was doing very well. Really? AU will go up, not because of strength of Aussie Dollar but due to weakness in usd. On top of it all, it's friday and we definitely need a breather from shorting this pair. At least : I do ;-)

Ignored

This isn't going up (substantially) any time soon. nfp reaction may cause a spike, nothing major.

#88,063
Dec 4, 2014 7:05pm Dec 4, 2014 7:05pm

Bmitchell
| Joined May 2012 | Status: Full Time Trader | 185 Posts

Quoting Dano12

Disliked

{image}{image} {image}

Ignored

Wise Trader!

#88,064
Dec 5, 2014 12:29am Dec 5, 2014 12:29am

Feela
| Joined Nov 2014 | Status: Trader | 174 Posts

Hello,
any update !?
it's showing overbought on 4H TF, but not clear enough.

#88,065
Dec 5, 2014 12:33am Dec 5, 2014 12:33am

diegosilva
| Joined Dec 2014 | Status: Trader | 61 Posts

Quoting Feela

Disliked

Hello, any update !? it's showing overbought on 4H TF, but not clear enough.

Ignored

Overboguht?? I thought it's oversold

#88,066
Dec 5, 2014 1:28am Dec 5, 2014 1:28am

Feela
| Joined Nov 2014 | Status: Trader | 174 Posts

Quoting diegosilva

Disliked

{quote} Overboguht?? I thought it's oversold

Ignored

hahauhu, i think i am overadrenaline.
thank you diegosilva for correction.
correction ..!, mmmmm .

#88,067
Dec 5, 2014 3:08am Dec 5, 2014 3:08am

Dano12
Joined Nov 2012 | Status: Trader | 5,895 Posts

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#88,068
Dec 5, 2014 1:07pm Dec 5, 2014 1:07pm

Dano12
Joined Nov 2012 | Status: Trader | 5,895 Posts

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#88,069
Dec 5, 2014 2:26pm Dec 5, 2014 2:26pm

fxmasterdxb
Joined May 2012 | Status: Senior Member | 3,108 Posts

Quoting fxmasterdxb

Disliked

{quote} now i know this might seem imagenary or not possible, but honestly this is how i see AU! i did not want to post my full analysis in the earlier post as it would make some people freakout or probably call me insane LOL anyhow, please have a look at my chart, you see the pair did complet ABCD pattern much earlier and has already retraced pass the 38.2 Fibbo retracement, i see the current move as a correction to be followed with a move towards the 50 Fibbo before retracing and contiuing all the way down to 0.81xx! {image}

Ignored

Since over a year and when price was at 0.97xx i made an analysis predicting a movement towards 0.81xx, many so called "pro's" made fun of me! Hope they are around to see how things turned!
Wish you all happy weekend!

#88,070
Edited 4:17pm Dec 5, 2014 4:04pm | Edited 4:17pm

oak
| Joined Jun 2013 | Status: Trader | 18 Posts

Quoting fxmasterdxb

Disliked

{quote} Since over a year and when price was at 0.97xx i made an analysis predicting a movement towards 0.81xx, many so called "pro's" made fun of me! Hope they are around to see how things turned! Wish you all happy weekend!

Ignored

that was a nice call, indeed. Did you follow your own analysis and short the aud and still in the trade going to 0.81xx?

#88,071
Dec 6, 2014 11:10pm Dec 6, 2014 11:10pm

skyhok
Joined Feb 2014 | Status: Trader | 1,796 Posts

Looking at the long term chart of AUDUSD - I rethink and it's hard to believe the PA from April 2001 low onward would be corrective (which would indicate price will resume down trend in the future taking AUDUSD further downunder towards zero).

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But it indicates a major reversal from April 2001 low for an uptrend, with an impulse wave [1] up as shown on chart below. PA is now at the tail-end of wave A of a 3-3-5 correction [2], approaching close to 50% retracement of [1].

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Elliott Wave for optimum entry, exit and risk management of trades

#88,072
Dec 7, 2014 12:46am Dec 7, 2014 12:46am

fxmasterdxb
Joined May 2012 | Status: Senior Member | 3,108 Posts

Quoting oak

Disliked

{quote} that was a nice call, indeed. Did you follow your own analysis and short the aud and still in the trade going to 0.81xx?

Ignored

If you are asking me whether i have an open position from last year shorting AU till date my answer is hell no! I never keep a position more than few days, the max i have ever kept a position was a week. I usually keep scaling my positions in and out, sometimes i even leave the pair driving all the way up/down to start shorting/longing at a better rate.

I believe this is the best way to make the maximum utilization of trading, I'm currently short AU from 0.8375 and looking for 0.8240 to exit (might exit earlier depending on Sunday market opening).

All the best!

#88,073
Dec 7, 2014 2:55am Dec 7, 2014 2:55am

oak
| Joined Jun 2013 | Status: Trader | 18 Posts

Quoting fxmasterdxb

Disliked

{quote} If you are asking me whether i have an open position from last year shorting AU till date my answer is hell no! I never keep a position more than few days, the max i have ever kept a position was a week. I usually keep scaling my positions in and out, sometimes i even leave the pair driving all the way up/down to start shorting/longing at a better rate. I believe this is the best way to make the maximum utilization of trading, I'm currently short AU from 0.8375 and looking for 0.8240 to exit (might exit earlier depending on Sunday market...

Ignored

I like your style.

#88,074
Dec 7, 2014 1:16pm Dec 7, 2014 1:16pm

fxmasterdxb
Joined May 2012 | Status: Senior Member | 3,108 Posts

Quoting oak

Disliked

{quote} I like your style.

Ignored

Thanks mate!

#88,075
Dec 7, 2014 10:23pm Dec 7, 2014 10:23pm

swilliam
Joined Jan 2014 | Status: Trader | 748 Posts

i got AU buy signal on 0.82815 Strong support level

Profit is on the other side of your mind

#88,076
Dec 7, 2014 11:37pm Dec 7, 2014 11:37pm

Ssm
| Joined Jul 2011 | Status: Trader | 911 Posts

Quoting swilliam

Disliked

i got AU buy signal on 0.82815 Strong support level

Ignored

There will always be buy signal for this pair as this pair has been in the "oversold" zone for a super long period of time. Please throw those overbought and oversold indicators away, because you will find that in forex, a pair can be in oversold or overbought zone for an extended period of time. These indicators can be dangerous if not used properly.

The true fact is market doesn't care, risk mgt is important.