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  • #91,001
  • Edited 9:14am Jul 3, 2015 9:04am | Edited 9:14am
Quoting raiders
{quote} im not even worried about 76 anymore ive got my eyes set on 75 and below if it gets nasty next week .743 in the cards for next week perhaps?
how much low beyond 7430??? 7200 or 7000 or 6500??? do you understand that today is thin liquidity day and it can easily bounce next week. risk rewards says u are shorting at 7500 for only 200 pips whereas upside you can get 8000 if RBA does not cut
  • #91,002
  • Jul 3, 2015 9:22am Jul 3, 2015 9:22am
not sure how much more. I'm just gonna keep riding what I see on my screen. And my screen is saying I won't be buying aud for awhile
  • #91,003
  • Jul 3, 2015 9:25am Jul 3, 2015 9:25am
Quoting giveachance
{quote} how much low beyond 7430??? 7200 or 7000 or 6500??? do you understand that today is thin liquidity day and it can easily bounce next week. risk rewards says u are shorting at 7500 for only 200 pips whereas upside you can get 8000 if RBA does not cut
I'd rather make 200 than lose whatever is being risked.
  • #91,004
  • Jul 3, 2015 9:50am Jul 3, 2015 9:50am
Quoting raiders
{quote} I'd rather make 200 than lose whatever is being risked.
In my opinion, the chart is telling me we just broke support and it should bounce back up again. I am currently long and hope I dont lose my 200 pips. Why will you keep selling? Is it because you expect USD to start to rally soon?
  • #91,005
  • Jul 3, 2015 9:56am Jul 3, 2015 9:56am
Quoting raiders
{quote} I'd rather make 200 than lose whatever is being risked.
wow lol. so short everything here. you are probably just watching aud/usd and taking decision. usd is weak after yesterday's NFP .
  • #91,006
  • Jul 3, 2015 9:56am Jul 3, 2015 9:56am
Quoting Vorex
Monday opening caused a big gap down on EUR/USD, this coming monday will cause a big gap up. I think today the market makers brought the price down for AUD/USD to hit peoples SL because they know next week AUD will shoot up if not by the Greek referendum then by the RBA holding rates on Tuesday. I'm going to go buy a bottle of champagne and pop it open it on Tuesday at 2:30 PM Sydney time ( RBA decision ) Anyone wants to join me?
I'm also long at 7585. Fingers crossed for us. Its where the Aussie FinMin said he wants it to be - 0.75. I think your right, up we go. I pray your right anyway! I'd rather not lose my shirt.
  • #91,007
  • Jul 3, 2015 10:04am Jul 3, 2015 10:04am
Wow, this has surprised me.
  • #91,008
  • Jul 3, 2015 10:05am Jul 3, 2015 10:05am
Quoting fxtrader08
{quote} In my opinion, the chart is telling me we just broke support and it should bounce back up again. I am currently long and hope I dont lose my 200 pips. Why will you keep selling? Is it because you expect USD to start to rally soon?
This consolidation here is exactly what I'm looking for personally. It's my favorite setup. Not sure it stays here and I'm currently out of all trades till Sunday. But this time correction, which is what I consider this stall,is doing nothing but building power for another drop. My targets have been 7575 then 7500 then 743. I do see a bounce in the cards at some point. Perhaps the rba will bring that. But then I'm looking for more drop.
I'm not an expert by any means so I have no clue where it's going in the next 10 min. But my charts are telling me aud is falling. I've been looking for aud shorts all week and will continue to until the charts say not to. I'm a trend trader and this def looks like a trend.
If you go to AJ daily and weekly you will see the drop perfrctly from the time correction. That said AJ I'm looking for 90 and 89.5 next week.
  • #91,009
  • Jul 3, 2015 10:08am Jul 3, 2015 10:08am
Quoting mrfigure
Wow, this has surprised me.
What surprised me is my EA with 99% wins took an entry long at 7585. Sometimes I get a few pips, sometimes 30, 50 or 100 pips pips but it went long and my SL is 200 pips away from entry.

I agree with another poster, this is market makers taking out stops.
  • #91,010
  • Jul 3, 2015 10:14am Jul 3, 2015 10:14am
anyways, back to 76. Aren't you price guys worried about 76 becoming strong resistance as it was strong support? Wouldn't there be more risk in trying to break that number north instead of using that number to look south? I only ask because I don't know
  • #91,011
  • Jul 3, 2015 10:20am Jul 3, 2015 10:20am
Quoting raiders
anyways, back to 76. Aren't you price guys worried about 76 becoming strong resistance as it was strong support? Wouldn't there be more risk in trying to break that number north instead of using that number to look south? I only ask because I don't know
I'm not a long term trader, so no, I'm not worried. As long as we get to 76 again now or next week, my trade will have closed with profit. Then looking for the next opportunity on AUDUSD.
  • #91,012
  • Jul 3, 2015 10:30am Jul 3, 2015 10:30am
Quoting fxtrader08
{quote} I'm not a long term trader, so no, I'm not worried. As long as we get to 76 again now or next week, my trade will have closed with profit. Then looking for the next opportunity on AUDUSD.
next week im looking to see if usd can get some of its power back

pull up UUP and look at in on the daily. and you'll see its on verge of breaking that flag to the north. if that happens im long usd
  • #91,013
  • Jul 3, 2015 10:40am Jul 3, 2015 10:40am
Quoting fxtrader08
{quote} I'm not a long term trader, so no, I'm not worried. As long as we get to 76 again now or next week, my trade will have closed with profit. Then looking for the next opportunity on AUDUSD.
check out EURJPY on the 4H. PERFECT setup for me to go short. If not for the greeks and the probable gap that will occur in any direction I would short this right here and hold till next week
  • #91,014
  • Jul 3, 2015 11:04am Jul 3, 2015 11:04am
Quoting dab
{quote} I'm not sure a high USD would lead to better US trade balance through tourism - I'm no economist but believe that would only happen if demand was inelastic. In reality a high USD would just make tourism in US more expensive so some would go elsewhere instead.
Indeed, that will be part of the effect. The other part is that it will be cheap for US citizens to travel around - much less negative impact on trade balance when US citizens spend abroad. Truth is most likely in what Davit said - pre-elections bs
  • #91,015
  • Jul 3, 2015 11:11am Jul 3, 2015 11:11am
Quoting alexpi
{quote} Indeed, that will be part of the effect. The other part is that it will be cheap for US citizens to travel around - much less negative impact on trade balance when US citizens spend abroad. Truth is most likely in what Davit said - pre-elections bs
Maybe we should be short?

http://www.forextell.com/citifx-tech...-short-audusd/
  • #91,016
  • Jul 3, 2015 11:15am Jul 3, 2015 11:15am
Quoting fxtrader08
{quote} Maybe we should be short? http://www.forextell.com/citifx-tech...-short-audusd/
they seem a bit late to the party no?
  • #91,017
  • Jul 3, 2015 11:34am Jul 3, 2015 11:34am
Quoting raiders
{quote} they seem a bit late to the party no?
Possibly but I think the down move has lost its steam for this week. Also, are these 14 economists wrong?

http://www.theaustralian.com.au/busi...-1227427395886

It was just a month ago that we were seeing some good news about Australia - http://www.scmp.com/business/global-...e-year-q1-2015

Wow how markets forget fast!

I am thinking to buy even more now.
  • #91,018
  • Jul 3, 2015 11:40am Jul 3, 2015 11:40am
Quoting fxtrader08
{quote} Possibly but I think the down move has lost its steam for this week. Also, are these 14 economists wrong? http://www.theaustralian.com.au/busi...-1227427395886 It was just a month ago that we were seeing some good news about Australia - http://www.scmp.com/business/global-...e-year-q1-2015 Wow how markets forget fast! I am thinking to buy even more now.
Yeah I am long AUDCAD and AUDCHF only been going down on risk sentiment. Everyone preparing for Greece with risk averse moves across the board xxxJPY's are going down, NZD, doesn't help that news come out earlier today to push down but mainly just risk aversion. give a couple weeks.
All posts are my personal opinion
  • #91,019
  • Jul 3, 2015 1:12pm Jul 3, 2015 1:12pm
Quoting raiders
anyways, back to 76. Aren't you price guys worried about 76 becoming strong resistance as it was strong support? Wouldn't there be more risk in trying to break that number north instead of using that number to look south? I only ask because I don't know
Its a good point. What i would suggest is that people look at the monthly chart trend line. We have dipped below, but that is no different to the last occasion price touched the monthly trend line in that it dipped below briefly followed by a strong bounce upwards. Im still very surprised we've broken 76 and stayed below. 72 looks possible
  • #91,020
  • Edited Jul 4, 2015 5:28am Jul 3, 2015 3:30pm | Edited Jul 4, 2015 5:28am
Quoting fxtrader08
{quote} Maybe we should be short? http://www.forextell.com/citifx-tech...-short-audusd/
Economic/Social discussions have nothing to do with positions.

Check out my previous posts in the thread for my trade plan, especially http://www.forexfactory.com/showthre...66#post8345666

Just waiting for Greek referendum to pass, haven't opened any serious positions since Tuesday - too much bs happening across the board; don't care much about such markets
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