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AUD/USD

  • #89,241
  • Feb 19, 2015 12:37pm Feb 19, 2015 12:37pm
Quoting PL-Piotr
{quote} 78100 was done... I close.. 77950 new long ...
long at 0.779. Looking for 0.782 to tp
  • #89,242
  • Feb 19, 2015 4:43pm Feb 19, 2015 4:43pm
Quoting diegosilva
{quote} long at 0.779. Looking for 0.782 to tp
I have the same think... 78205 exactly...
breaking coverage of the triangle & Fibo...
  • #89,243
  • Feb 19, 2015 11:39pm Feb 19, 2015 11:39pm
Wow it's very lethargic.. Looking at the H4 we are still just above the EMA of the Bollinger Band. Combine that with the fact that 7800 is holding we may see 7880 tonight in NY session?
  • #89,244
  • Feb 19, 2015 11:43pm Feb 19, 2015 11:43pm
Quoting banana
Wow it's very lethargic.. Looking at the H4 we are still just above the EMA of the Bollinger Band. Combine that with the fact that 7800 is holding we may see 7880 tonight in NY session?
Wait for London session before deciding as usual. 7820 maintains as short term resistance and has been pretty strong at it this week, look to it rejecting or breaking to offer signs of ranging or breakout. Personally I'm shorting at 7820 for a bigger risk reward ratio.
Luck shines on the positive.
  • #89,245
  • Feb 20, 2015 12:34am Feb 20, 2015 12:34am
Quoting YvetteTeo
{quote} Wait for London session before deciding as usual. 7820 maintains as short term resistance and has been pretty strong at it this week, look to it rejecting or breaking to offer signs of ranging or breakout. Personally I'm shorting at 7820 for a bigger risk reward ratio.

I actually try not to trade on Fridays but sometimes it's the time to make the most pips for the week!
  • #89,246
  • Edited 1:46am Feb 20, 2015 12:35am | Edited 1:46am
Quoting banana
{quote} I actually try not to trade on Fridays but sometimes it's the time to make the most pips for the week!
Yes!
I just don't roll trades over the weekend usually.

Edit: AUD has been strong against all other majors, might be looking at some exhaustion up against stronger currencies.
Edit: And we have our 7820 mark, lets see how it goes on from here. There is also a descending trendline top near this area.
Luck shines on the positive.
  • #89,247
  • Feb 20, 2015 2:08am Feb 20, 2015 2:08am
0.8060 resistance area coming up by the looks of it

You know the pattern

Be the pattern

Trade the pattern...

Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDMonthly.png Size: 30 KB
Click to Enlarge Name: AUDUSDWeekly.png Size: 30 KB
Come with me if you want to live....
  • #89,248
  • Edited 2:44am Feb 20, 2015 2:14am | Edited 2:44am
Do we have a rejection? Stops have been triggered.

Edit: No short term fundamental impacts till near NY open when volatility floods in again. Seems like range top is holding as well, hence continuation of consolidation in range between 7840 to 7740. Scalpers might want to get in for a tight short here.
Luck shines on the positive.
  • #89,249
  • Feb 20, 2015 3:16am Feb 20, 2015 3:16am
Happy Chinese New Year!

son: Does my tablet runs better in the year of the RAM?
dad: The memories made in China are not too bad these days.
Elliott Wave for optimum entry, exit and risk management of trades
  • #89,250
  • Feb 20, 2015 3:53am Feb 20, 2015 3:53am
And aussie continues to flirt with upper levels and being strongest amongst most majors, makes me wonder whats making it so strong.
We've got metals falling and possible S&P downgrade.
Luck shines on the positive.
  • #89,251
  • Feb 20, 2015 3:56am Feb 20, 2015 3:56am
Forex is not rational, one should not be looking for any explanations here
  • #89,252
  • Feb 20, 2015 3:59am Feb 20, 2015 3:59am
Quoting YvetteTeo
And aussie continues to flirt with upper levels and being strongest amongst most majors, makes me wonder whats making it so strong. We've got metals falling and possible S&P downgrade.
Hi, am not sure theory is valid, but I have though of this :
Quoting Tom_D_Trader
{quote} Yy, agreed. But the thing is, I went short right after RBA cut, while at the same time ofc buying UJ. Was scubadiving for about a week now and few shorts got cut in loss, now @ BE. Was thinking why AUD reacted this way and think I have a solution . In Australia, there is not so strong stock market like in US or EU. When Europe or US cuts, is a massive buy on stocks immediatelly and currencies move in neg correlation. Afterwards, foreign investors start to buy those cheap currencies so they can invest too, so currency corrects. But in Australia,...
"I know one thing, that I know nothing." Sokrates
  • #89,253
  • Feb 20, 2015 4:09am Feb 20, 2015 4:09am
Quoting Tom_D_Trader
{quote} Hi, am not sure theory is valid, but I have though of this : {quote}
Agree and, diminshed expectations for mid summer US rate hike also promts Aussie to bounce somewhat, imo

Yellen's testimony next week should be interesting
  • #89,254
  • Feb 20, 2015 4:20am Feb 20, 2015 4:20am
News feeds have reported a few hours back that there is a large (1.5 b) option barrier between 0.7840 - 0.7850.

This might be the reason for the current PA
Holy Grail part 1. - Cut loses short.
  • #89,255
  • Feb 20, 2015 4:22am Feb 20, 2015 4:22am
AUD/USD
0.7635 (795m) , 0.7650 (780m), 0.7665
0.7840 (1.77bn), 0.7850 (1.16bn)
  • #89,256
  • Feb 20, 2015 4:26am Feb 20, 2015 4:26am
Quoting Paulenok
Forex is not rational, one should not be looking for any explanations here
Agreed. Just food for thought.
Luck shines on the positive.
  • #89,257
  • Feb 20, 2015 4:27am Feb 20, 2015 4:27am
Quoting mystic
News feeds have reported a few hours back that there is a large (1.5 b) option barrier between 0.7840 - 0.7850. This might be the reason for the current PA
I'm alittle noob with regards to option barriers. Would you mind elaborating on what it means?
Luck shines on the positive.
  • #89,258
  • Feb 20, 2015 5:19am Feb 20, 2015 5:19am
Quoting YvetteTeo
And aussie continues to flirt with upper levels and being strongest amongst most majors, makes me wonder whats making it so strong. We've got metals falling and possible S&P downgrade.
it's strong until everyone is long, then look out below

you just wait and see, as soon as everyone is really believing long, what happens

It takes a lot for me to IGNORE you, but you can try.
  • #89,259
  • Feb 20, 2015 5:25am Feb 20, 2015 5:25am
Quoting Erebus
{quote} it's strong until everyone is long, then look out below you just wait and see, as soon as everyone is really believing long, what happens
Lol, I'd like that. Anyway as long as BoA continues to ease, there's no real reason to believe there will be any substantial upside on this pair.
Luck shines on the positive.
  • #89,260
  • Feb 20, 2015 5:56am Feb 20, 2015 5:56am
went short from 0.78309 - target is 0.7770
holding an sell limit on 0.79316 , target is 0.7460
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