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AUD/USD

  • #92,081
  • Sep 23, 2015 7:07pm Sep 23, 2015 7:07pm
Quoting diggo
{quote} Ok we have now reached juicy reload levels at 0.699x. This is also a 3/4 retrace from the previous leg (0.6907 --> 0.728). Next target extension is 0.755x. Bulls have pretty good r/r here for the next leg with stops below the lows. I'm in at 0.6995 risking 90 pips to make 550+
Gosh I hope your right my long is annoying me I can't make any trades while it's open. Positive swap is nice though, I should just leave my long open for a year I'd make more in swap than I do trading. Kek.
  • #92,082
  • Edited 7:29pm Sep 23, 2015 7:13pm | Edited 7:29pm
Quoting redalert
{quote} Gosh I hope your right my long is annoying me I can't make any trades while it's open. Positive swap is nice though, I should just leave my long open for a year I'd make more in swap than I do trading. Kek.
If you left it open until this time next year I suspect you could be 1,000 or 1,500 pips in the red. No amount of positive swap will ever cover that
  • #92,083
  • Sep 23, 2015 7:18pm Sep 23, 2015 7:18pm
Quoting diggo
{quote} Ok we have now reached juicy reload levels at 0.699x. This is also a 3/4 retrace from the previous leg (0.6907 --> 0.728). Next target extension is 0.755x. Bulls have pretty good r/r here for the next leg with stops below the lows. I'm in at 0.6995 risking 90 pips to make 550+
I wish you well but am curious why you are using 6895 as your stop instead of risking an extra 50 odd pips to get below what you termed rock solid support?

Personally I am looking for 6980 to start some small longs and would add more to 69c and lower OR will look to go short on the retraces because it won't go straight up 550 pips. I will however be aiming to make more than 550pips if it does go as high as 75c.
Hope for the best, prepare for the worst.
  • #92,084
  • Sep 23, 2015 7:24pm Sep 23, 2015 7:24pm
Quoting dab
{quote} I wish you well but am curious why you are using 6895 as your stop instead of risking an extra 50 odd pips to get below what you termed rock solid support? Personally I am looking for 6980 to start some small longs and would add more to 69c and lower OR will look to go short on the retraces because it won't go straight up 550 pips. I will however be aiming to make more than 550pips if it does go as high as 75c.
Fair question. I am a tight ass. If it breaks below 6906, most likely it will have every intention of testing the bigger 685x. Why should I give up another 50 pips in between? I will re-enter at 6860 or lower. In trading you need to save as many pips as possible. It's more profitable that way..
  • #92,085
  • Sep 23, 2015 8:18pm Sep 23, 2015 8:18pm
Quoting diggo
{quote} Fair question. I am a tight ass. If it breaks below 6906, most likely it will have every intention of testing the bigger 685x. Why should I give up another 50 pips in between? I will re-enter at 6860 or lower. In trading you need to save as many pips as possible. It's more profitable that way..
Yeh good luck to you mate, i reloaded my longs as well....see how it goes R/R is really good for 50+ pips....it will possibly go up higher as whenever I aim for that it beats my expectations but im happy with 50 pips, hell even 30

I doubt it will go below the 6906 mark as you said....there is a war going on at this level and it looks like it is heavily defended.....
  • #92,086
  • Sep 23, 2015 8:39pm Sep 23, 2015 8:39pm
Quoting Lionheartfx1
{quote} R/R is really good for 50+ pips
Well that depends where your S/L is.. (I hope you have a SL)

I like to have a plan. I know that I have a 6:1 shot, so I can lose 5 times out of 6 and still be profitable.

If your SL is 100 pips and you're targeting 50 or even 30, well that's not so attractive any more. As you mature as a trader you tend to pick your battles more carefully.
  • #92,087
  • Sep 23, 2015 8:40pm Sep 23, 2015 8:40pm
I think today will be a decisive day for how much lower we can go before a rally starts to show? Pretty sure the decline will slow down through the .70-69 range. I'm a little doubtful if we will actually see a rally through .75 .. I just can't see how the fundamentals will allow it.

Watching how high the ozzy will climb today during the asian & European session and will probly find a good level to short in from.
  • #92,088
  • Sep 23, 2015 8:55pm Sep 23, 2015 8:55pm
Quoting diggo
{quote} Well that depends where your S/L is.. (I hope you have a SL) I like to have a plan. I know that I have a 6:1 shot, so I can lose 5 times out of 6 and still be profitable. If your SL is 100 pips and you're targeting 50 or even 30, well that's not so attractive any more. As you mature as a trader you tend to pick your battles more carefully.
Yep same here....nah mate my sl is not as much as you, I had a tight sl about 10 pips where you entered now the fucker has shot up

Already locked in my pips at 17+ so yeh risk free trade and its a winner....hope it goes up more if not all good, im locked in profit.
  • #92,089
  • Sep 23, 2015 9:11pm Sep 23, 2015 9:11pm
Quoting Lionheartfx1
{quote} Yep same here....nah mate my sl is not as much as you, I had a tight sl about 10 pips where you entered now the fucker has shot up Already locked in my pips at 17+ so yeh risk free trade and its a winner....hope it goes up more if not all good, im locked in profit.
Good stuff

Bulls have a norm at 6988.6, my broker missed by 0.4 pips. This is usually a good spot to go long with a tiny SL (5 or 6 pips), a place where you can sometimes get 100:1 r/r
  • #92,090
  • Sep 23, 2015 9:13pm Sep 23, 2015 9:13pm
Quoting diggo
{quote} Fair question. I am a tight ass. If it breaks below 6906, most likely it will have every intention of testing the bigger 685x. Why should I give up another 50 pips in between? I will re-enter at 6860 or lower. In trading you need to save as many pips as possible. It's more profitable that way..
Fair enough. What you are aiming for can happen and has as recently as the 6 weeks in April, May this year. I can't have targets that big as price invariably goes up 300 pips and then back down 200 along the journey and I prefer chasing those 'legs' of the trip.
Hope for the best, prepare for the worst.
  • #92,091
  • Sep 23, 2015 9:19pm Sep 23, 2015 9:19pm
Quoting dab
{quote} Fair enough. What you are aiming for can happen and has as recently as the 6 weeks in April, May this year. I can't have targets that big as price invariably goes up 300 pips and then back down 200 along the journey and I prefer chasing those 'legs' of the trip.
I don't hold 100% of the trade until the target. I micro manage along the way, by taking portions off the table at key levels and re-entering those portions at a lower price if the opportunity presents.
  • #92,092
  • Sep 23, 2015 9:52pm Sep 23, 2015 9:52pm
any opinion on buying at .6993 now?
  • #92,093
  • Sep 23, 2015 9:55pm Sep 23, 2015 9:55pm
Quoting ell3
any opinion on buying at .6993 now?
I need more confirmation before i place a buy. to much uncertainty for me atm.
  • #92,094
  • Sep 23, 2015 10:00pm Sep 23, 2015 10:00pm
Quoting bladerogers
{quote} I need more confirmation before i place a buy. to much uncertainty for me atm.
nah i ended up reloading my short at .70. personally i decided that we're still going down past .6990.
hope that pans out.
  • #92,095
  • Sep 23, 2015 10:11pm Sep 23, 2015 10:11pm
Quoting diggo
{quote} I don't hold 100% of the trade until the target. I micro manage along the way, by taking portions off the table at key levels and re-entering those portions at a lower price if the opportunity presents.
Hope for the best, prepare for the worst.
  • #92,096
  • Sep 23, 2015 11:43pm Sep 23, 2015 11:43pm
Quoting ell3
{quote} nah i ended up reloading my short at .70. personally i decided that we're still going down past .6990. hope that pans out.
good luck. could very well be. still undecided. trend is down, divergence shows up and oscillators are flat. last h4 shows a lot of downward pressure... i am beginning to think that resistance will hold myself.
  • #92,097
  • Sep 24, 2015 12:48am Sep 24, 2015 12:48am
Quoting diggo
{quote} Ok we have now reached juicy reload levels at 0.699x. This is also a 3/4 retrace from the previous leg (0.6907 --> 0.728). Next target extension is 0.755x. Bulls have pretty good r/r here for the next leg with stops below the lows. I'm in at 0.6995 risking 90 pips to make 550+
Some similarity in daily chart from March/April to current in September. For your sake I hope it doesn't play out the same (would mean a dip below 6907 before the up move).
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 170 KB
Hope for the best, prepare for the worst.
  • #92,098
  • Sep 24, 2015 1:55am Sep 24, 2015 1:55am
Since 0.7 was broken today, if this round number becomes resistance, we will be testing 0.689 again soon.
The true fact is market doesn't care, risk mgt is important.
  • #92,099
  • Sep 24, 2015 2:48am Sep 24, 2015 2:48am
TP at .6960. Still weary of a bounce. I guess likely to see it go lower but im happy with what I've got!
How low do you guys think we'll hit today?
  • #92,100
  • Sep 24, 2015 3:05am Sep 24, 2015 3:05am
Quoting ell3
TP at .6960. Still weary of a bounce. I guess likely to see it go lower but im happy with what I've got! How low do you guys think we'll hit today?
https://jkonfx.com/forex-news/2015-0...ampaign=buffer

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