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AUD/USD

  • #91,861
  • Sep 13, 2015 5:59pm Sep 13, 2015 5:59pm
great traders will take some profit at certain points
  • #91,862
  • Sep 13, 2015 7:37pm Sep 13, 2015 7:37pm
aud is sure pushing up this morning, nzd as well
  • #91,863
  • Sep 13, 2015 10:43pm Sep 13, 2015 10:43pm
Quoting dab
{quote} 2 weeks ago price was in range 7080 to 7160 so I'm assuming you opened your short there. Price has been down to 6907 since and you didn't take some profit then? Were you being greedy and holding for further lows? Price doesn't just drop & drop & drop. If you want to have exposure to further drops than that is fine but I'd suggest also having some positions where you take profit when you are 50 pips in profit, 100 pips in profit etc
yup you're right. i was looking for a long term position for about 2-3 months but i became worried about this fed meeting on thurs and closed it...
  • #91,864
  • Sep 13, 2015 11:06pm Sep 13, 2015 11:06pm
Aussie pushed up enough to hit my stop loss, now it's coming back down again as markets tend to do..

Entered short again, but on AUDJPY this time..
  • #91,865
  • Sep 13, 2015 11:32pm Sep 13, 2015 11:32pm
Quoting ptcl
{quote} yup you're right. i was looking for a long term position for about 2-3 months but i became worried about this fed meeting on thurs and closed it...
That's okay, as long as you learn from it and find a style that suits you.

I've got lots of small positions recently (all short)
7060 (opened on the 9th and was in good profit before unemployment data but didn't close as was looking for further profit and had closed another position at 6970)
7040 (closed at 7039 as had 3 higher positions)
7055 (closed at 7054 as had 2 higher positions)
7085 targeting 7051
7086 (opened to replace position closed at 7054) targeting 7067
7087 (opened to replace position closed at 7039) closed at 7083 as had multiple higher positions & progressively reducing my risk as price comes down
7100 (closed at 7099 as had 2 positions higher)
7115 targeting 7036)
7130 targeting 7036 or lower
Hope for the best, prepare for the worst.
  • #91,866
  • Sep 13, 2015 11:32pm Sep 13, 2015 11:32pm
Quoting KoiFish
Aussie pushed up enough to hit my stop loss, now it's coming back down again as markets tend to do.. Entered short again, but on AUDJPY this time..
Earlier move is a typical bull trap, to clear out the bulls.

Long term trend is still a bear, price still resisted by 0.71 levels. The bull traps also confirm that higher price are levels where bears will load up their shorts position.

FOMC this week, might be the catalyst for price to continue moving down.
The true fact is market doesn't care, risk mgt is important.
  • #91,867
  • Sep 14, 2015 12:44am Sep 14, 2015 12:44am
fomc won't do anything this week.. so if anything aud could go higher
  • #91,868
  • Sep 14, 2015 1:27am Sep 14, 2015 1:27am
Quoting renski
fomc won't do anything this week.. so if anything aud could go higher
Care to share why are u so sure about FOMC's decision?
  • #91,869
  • Sep 14, 2015 1:43am Sep 14, 2015 1:43am
Quoting SkyrEk
{quote} Care to share why are u so sure about FOMC's decision?
Whilst the FED may not do anything the FOMC decision (anticipation and deliverance) will almost certainly cause some volatility.
Hope for the best, prepare for the worst.
  • #91,870
  • Sep 14, 2015 1:52am Sep 14, 2015 1:52am
Quoting dab
{quote} Whilst the FED may not do anything the FOMC decision (anticipation and deliverance) will almost certainly cause some volatility.
Yup, agree on that.
Expect volatility for sure.

As for AUDUSD, i will wait for higher levels before i actually execute my shorts. Seems to me that there are still upside risk in this pair.
  • #91,871
  • Sep 14, 2015 2:47am Sep 14, 2015 2:47am
Quoting SkyrEk
{quote} Yup, agree on that. Expect volatility for sure. As for AUDUSD, i will wait for higher levels before i actually execute my shorts. Seems to me that there are still upside risk in this pair.
agree, it's almost a week before the decision
  • #91,872
  • Sep 14, 2015 3:25am Sep 14, 2015 3:25am
hi everyone!
Considering this evenings volatile situation with the Australian government, could this affect the aud at all or do political events like this not usually change currency strength?
It seems Abbott will no longer be prime minister very shortly, perhaps even this evening... I'm wondering if this change could affect the dollar at all?!
  • #91,873
  • Sep 14, 2015 4:10am Sep 14, 2015 4:10am
Where do you guys think one should short AUD?
  • #91,874
  • Sep 14, 2015 4:11am Sep 14, 2015 4:11am
Quoting alz
Where do you guys think one should short AUD?
See Price action around .7150 or .7200.

For now i am still long until i see a reversal candle.
  • #91,875
  • Sep 14, 2015 4:14am Sep 14, 2015 4:14am
Sorry what sort of price action are you referring to between 7150 and 7200? And what tf ate you referring to for a reversal candle?
  • #91,876
  • Sep 14, 2015 4:19am Sep 14, 2015 4:19am
Quoting alz
Sorry what sort of price action are you referring to between 7150 and 7200? And what tf ate you referring to for a reversal candle?
When price hits region around .7150 or somewhere between this two range, see if there are any signs of reversal taking place or not.

TF will be either 1hr or 4hr. I will take profit and cut down on my positions as we approach FOMC.
  • #91,877
  • Sep 14, 2015 4:27am Sep 14, 2015 4:27am
Quoting SkyrEk
{quote} When price hits region around .7150 or somewhere between this two range, see if there are any signs of reversal taking place or not. TF will be either 1hr or 4hr. I will take profit and cut down on my positions as we approach FOMC.
I agree with Sky. If shorting I would be waiting for price to work its way back up into the top of the descending channel and 200SMA on the 4H
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #91,878
  • Sep 14, 2015 4:28am Sep 14, 2015 4:28am
Quoting SkyrEk
{quote} When price hits region around .7150 or somewhere between this two range, see if there are any signs of reversal taking place or not. TF will be either 1hr or 4hr. I will take profit and cut down on my positions as we approach FOMC.
There was a big reversal H4 candle today. But it turned out to be a fake one as the price went up afterwards so what to look out for?
  • #91,879
  • Sep 14, 2015 4:31am Sep 14, 2015 4:31am
Quoting alz
{quote} There was a big reversal H4 candle today. But it turned out to be a fake one as the price went up afterwards so what to look out for?
I didn't see any 4h reversal candles today. The down move was recovered by a pin bar 4hr candle. Hence, price is where it is currently at .7120
  • #91,880
  • Sep 14, 2015 4:40am Sep 14, 2015 4:40am
Quoting alz
{quote} There was a big reversal H4 candle today. But it turned out to be a fake one as the price went up afterwards so what to look out for?
Don't forget we are talking about Sunday market open with very thin liquidity until London opens so sometimes price action can be a bit skewed and/or manipulated
Pride always comes before destruction.... -Proverbs 16:18
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