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AUD/USD

  • #92,121
  • Sep 24, 2015 10:02am Sep 24, 2015 10:02am
Quoting SkyrEk
{quote} Thank you, u too, GL! I have added even more longs currently. I see a very bullish 4hr candle being formed.
0.7 still resisted at the moment. Look at the bounce at this level.
The true fact is market doesn't care, risk mgt is important.
  • #92,122
  • Sep 24, 2015 10:11am Sep 24, 2015 10:11am
Quoting Ssm
{quote} 0.7 still resisted at the moment. Look at the bounce at this level.
.70 being attacked rapidly. Seems like the bulls are winning
  • #92,123
  • Sep 24, 2015 10:13am Sep 24, 2015 10:13am
and nzd/usd possible test .64
  • #92,124
  • Sep 24, 2015 11:03am Sep 24, 2015 11:03am
The run up failed at 7010, knocked back to 6990s. Observing this keenly...who knows, maybe we'll be back testing 6940 again in the asian session! Think i'll follow a scalping strategy in the meantime
  • #92,125
  • Sep 24, 2015 11:44am Sep 24, 2015 11:44am
Quoting SkyrEk
{quote} Thank you, u too, GL! I have added even more longs currently. I see a very bullish 4hr candle being formed.
For those whom heed my calls, you will be heavily in green now. Hehe.

Cheers!
  • #92,126
  • Sep 24, 2015 11:52am Sep 24, 2015 11:52am
droped too fast today needs to rivisit the 0.95 area 2 more times before the low i won't scalp longs even though i see your point i don't want to get caught in a bearish trend for simple 30-60 pips scalps
  • #92,127
  • Sep 24, 2015 11:54am Sep 24, 2015 11:54am
Quoting Windstrown
droped too fast today needs to rivisit the 0.95 area 2 more times before the low i won't scalp longs even though i see your point i don't want to get caught in a bearish trend for simple 30-60 pips scalps
Yes, that's right. It will really depends on what timeframe you are trading in as well. Good on you.
  • #92,128
  • Sep 24, 2015 6:00pm Sep 24, 2015 6:00pm
The pair is back within its familiar range around the 0.70 handle, 0.6905 act as key support.
  • #92,129
  • Sep 24, 2015 7:13pm Sep 24, 2015 7:13pm
I maybe wrong, but seems a bullish 4hr candle is forming?
  • #92,130
  • Sep 24, 2015 7:37pm Sep 24, 2015 7:37pm
Quoting renski
I maybe wrong, but seems a bullish 4hr candle is forming?
Personal opinion - mixed signals, not ready to confirm bullish yet. Especially with yellen's comments. Need to see what happens during Asia.
  • #92,131
  • Sep 24, 2015 9:20pm Sep 24, 2015 9:20pm
Quoting ell3
{quote} Personal opinion - mixed signals, not ready to confirm bullish yet. Especially with yellen's comments. Need to see what happens during Asia.
like pretty much every other pair right now. they don't know what to do it seems.
  • #92,132
  • Sep 24, 2015 10:41pm Sep 24, 2015 10:41pm
So, what should we do next ??
It seems AUDUSD will bearish to break 0.69xx.
Which mean Next week the Aussie calendar is generally light but it will bring data on Building permits and Retail Sales. If the housing market and the consumer both show weakness, the Aussie could come under a fresh selling assault as investors fears of an RBA rate hike possibly even before the end of the year could drive the unit to fresh multi year lows below the 6800 figure.
  • #92,133
  • Sep 24, 2015 11:01pm Sep 24, 2015 11:01pm
Quoting bladerogers
{quote} like pretty much every other pair right now. they don't know what to do it seems.
Hahaha, let Europe decide later. For aud my bet is down.
  • #92,134
  • Sep 25, 2015 12:29am Sep 25, 2015 12:29am
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 withstops below the lows. I'm in at 0.6995 risking 90 pips to make 550+
We entered glorious R/R levels yesterday, I hope some of you bulls stocked up.

We were well on our way to forming a hard bottom at 0.6907 for the next few months UNTIL Yellen threw a spanner into the works last night, surprising us with a hawkish tone pointing to a December lift off. Typically we wouldn't expect anything like this just a week after a meeting.

This has reduced the odds of the 0.755x target and now puts the 0.6907 low at a higher risk. On this news I have cleared some longs for a modest gain to reduce my risk until further data. Not much else to do until GDP numbers tonight.

Quoting diggo
Gold is also cheap in the 1120.xx zone at the moment, for the next leg to 1170/1200
For those following gold, superb moves last night with 1170/1200 targets on track. Again, Yellen's comments could subdue the bulls so protect some profit and let the rest run.
  • #92,135
  • Sep 25, 2015 1:32am Sep 25, 2015 1:32am
IMHO.

More upside to go
  • #92,136
  • Sep 25, 2015 1:41am Sep 25, 2015 1:41am
Quoting SkyrEk
IMHO. More upside to go
Hey I thought you were done trading for the week. You can only buy one Mercedes per week

Congrats!
Pride always comes before destruction.... -Proverbs 16:18
  • #92,137
  • Sep 25, 2015 1:51am Sep 25, 2015 1:51am
Quoting SkyrEk
IMHO. More upside to go
Are you going to add in more longs?
  • #92,138
  • Sep 25, 2015 2:03am Sep 25, 2015 2:03am
@expo33, yeah, awaiting for the delivery of my car though. Gotten myself a CLA45 instead, looks young and sporty. Good trade opportunities, couldn't let it slip through.

@Tricia, yes, i have longs since .6960 ++, just adding more and more longs until i see a reversal candle to resume the bearish trend. It seem that the downtrend been prolonged and bears are getting tired having their pizza, it is time for bulls to have slices of it until the giant bears come back in.

It's all my own opinion, no guarantee that you will profit should you follow my trades though. Anyway, when i spot something is not right, i cut loss immediately and try to break even or getting out with a small profit is better than nothing.

As you can see from my chart, i don' see any bearish momentum currently. Those whom are still going to short, what you can do now is go take a vacation, clear your mind. Trading is never a one way street. Don't be fixed on ONE bias all the time, be flexible and fluid, be ready to long or short at the right time.

Take care all and have a great weekend ahead!
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  • #92,139
  • Sep 25, 2015 2:17am Sep 25, 2015 2:17am
Quoting triciatlp
{quote} Are you going to add in more longs?
Hahaha that sounds plain lucky, but good on you! It's awesome for reloading of shorts for another run down too.
  • #92,140
  • Sep 25, 2015 2:38am Sep 25, 2015 2:38am
Quoting ell3
{quote} Hahaha that sounds plain lucky, but good on you! It's awesome for reloading of shorts for another run down too.
I will be cautious if i am u mate. Not trying to be right here, but probably you will want to look at your daily chart and u might just find a solid hammer close.
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