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AUD/USD

Quoting ozboy
up and down down and up sell the rally buy the dip day by day
"Holy Grail" exists - accepting where is the first step.
Quoting chess king
{quote} IMHO if good numbers ...more than 10k.. 8280 may be the target.
done
Strong support at 0.8200....... long it for 300 pips profit! !!
Quoting mrnicecookie
Strong support at 0.8200....... long it for 300 pips profit! !!
May be a stupid question being a new trader - but why cant it be considered as strong resistance?
Quoting Chaits26
{quote} May be a stupid question being a new trader - but why cant it be considered as strong resistance?
Support stops price moving lower, resistance stops price moving higher.
Hope for the best, prepare for the worst.
Quoting HelloOz
{quote} if you want to long AUD, maybe it is better idea to SHORT EUR/AUD. looking to add short position around 1.457x .. playing H&S pattern.. good luck. {image}
You are probably right, however my plan is to only trade AUD/USD until I'm happier with my results. I've also been net long on AUD for too long so it's not a question of whether to long it but has been a case of managing my positions to be in a better place when price revisits somewhere it's already been. So far I am doing well at that and am dragging myself out of a bit of a rut. ie system I've been using for a while has still been doing well and is compensating for a new system that I tried too big too soon.
Hope for the best, prepare for the worst.
Technically, Aud/Usd is making higher highs and higher lows....would like to accumulate longs on deep retracement.
Attached Image (click to enlarge)
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Now we got CHF is speeched up (as we remember the first speeched down is NZD : chain effect to AUD) so chain effect is coming soon.
(if want to see more, also read my post on the NZD/USD forum : neighbour currency.)
FXCM Inc., the biggest retail foreign-exchange broker in Asia and the U.S., said in a statement that due to unprecedented volatility in the euro against the Swiss franc, its losses left it with a negative equity balance of around US$225 million and that it was trying to shore up its capital.
Inverse Head and Shoulder formation on H4 seems likely to get confirmed on the break of 0.8270 and the pair can immediately run up-to 0.8400; however, 0.8200 support of the ascending trend-line marks an important support for the pair. I would support buying near 0.8275 with 0.8200 being the SL and 0.8400 being the first TGT.
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Quoting HelloOz
FXCM Inc., the biggest retail foreign-exchange broker in Asia and the U.S., said in a statement that due to unprecedented volatility in the euro against the Swiss franc, its losses left it with a negative equity balance of around US$225 million and that it was trying to shore up its capital.
The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules. - See more at:


SNB = Swiss Nuclear Bank
Will the market have enough strength to go to 0.8350 or test 0.81 and .079 in coming days

Attached Image (click to enlarge)
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Value is nothing, Price is everything
Things gonna turn sour in China. The slump of today's stock market may be just a prelude.
Set sell limit at 0.83; 0.835! Long-term target 0.72~0.73!
Sitting on kill zone from highs of Dec 30 with potential for take profits 0.8250 , then retest highs of the CHF madness (last Thursday)

Entering Buy Limits under 0.8200
Cut the red, let the green grow
https://charts.mql5.com/6/765/audusd...-division1.png

some levels to keep an eye on. Pip avg. this year ~60pips during Aussie session
Intraday Trade:

Long from 0.81887
TP 0.82519 (63.2 pips)
SL 0.81709 (17.8 pips)
Risk/Reward 1:3.5
Attached Image (click to enlarge)
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Quoting Zondervan
Intraday Trade: Long from 0.81887 TP 0.82519 (63.2 pips) SL 0.81709 (17.8 pips) Risk/Reward 1:3.5
Really?

If you look, you will see double inside days broken to downside

I'll give you 3.5 to 1 odds, you don't collect on your trade

Don't believe everything that you THINK
Buy Dips Sell Rips Return This Week: 7.0%
Quoting Erebus
{quote} Really? If you look, you will see double inside days broken to downside I'll give you 3.5 to 1 odds, you don't collect on your trade
Yes Erebus Really!!! So you have given me about a 28% chance of winning. I think I can handle that.

I have a 67% win rate with this system. So one third of the time I am wrong which is why I always use a SL. However with risk/reward of 1:3.5 it is extremely profitable. I trade this system using statistics not previous price action. But I do look at the economic calendar and obviously there is some event risk coming shortly which will either help me or take me out of this trade. We shall see.
Quoting Zondervan
{quote} Yes Erebus Really!!! So you have given me about a 28% chance of winning. I think I can handle that. I have a 67% win rate with this system. So one third of the time I am wrong which is why I always use a SL. However with risk/reward of 1:3.5 it is extremely profitable. I trade this system using statistics not previous price action. But I do look at the economic calendar and obviously there is some event risk coming shortly which will either help me or take me out of this trade. We shall see.
Thumbs up for posting the trade. I'm bearish also, but commend you on following a system with a managed risk approach, good luck with the trade.
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