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AUD/USD

  • #92,461
  • Edited 7:13am Oct 7, 2015 7:02am | Edited 7:13am
Quoting tashkent
{quote} thank you and happy trading my friend usually i do not trade au that frequently, yesterday took a long just to show if price is going up, buy and wait and you will be rewarded. if i kept thinking it may reverse anytime there would not be this 50-60 pips. with that mindset, probably i would have entered short and counting my losses now. {image}
however, with the same mindset you could count losses instead of profit if the PA would changed to south
  • #92,462
  • Oct 7, 2015 7:29am Oct 7, 2015 7:29am
Quoting eugenyk
{quote} however, with the same mindset you could count losses instead of profit if the PA would changed to south
good luck
As Above, So Below
  • #92,463
  • Oct 7, 2015 7:39am Oct 7, 2015 7:39am
Quoting tashkent
{quote} good luck
Thanks!
  • #92,464
  • Oct 7, 2015 7:42am Oct 7, 2015 7:42am
It's easy to say a lot of things in hindsight I guess. Fair to say for me, I felt it was unclear if there was going to be a retracement or if it would continue up so I stayed out. Missed a good lot of pips to eat but better safe than sorry! Anyway it seems quite certain a retracement is overdue so idd rather wait for that before adding more longs. Good luck!
  • #92,465
  • Oct 7, 2015 7:47am Oct 7, 2015 7:47am
Quoting ell3
It's easy to say a lot of things in hindsight I guess. Fair to say for me, I felt it was unclear if there was going to be a retracement or if it would continue up so I stayed out. Missed a good lot of pips to eat but better safe than sorry! Anyway it seems quite certain a retracement is overdue so idd rather wait for that before adding more longs. Good luck!
most of the things are unclear and uncertain most of the time.

this is the main pair i trade (currently 4 open long positions), just an example to show how easy is to follow the highs and lows and sit tight. take the profit after impulsive movement, and repeat.
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As Above, So Below
  • #92,466
  • Oct 7, 2015 8:10am Oct 7, 2015 8:10am
on 1Hour chart it made gravestone doji probably we will see some correction
  • #92,467
  • Oct 7, 2015 8:11am Oct 7, 2015 8:11am
on 1Hour chart it made gravestone doji probably we will see some correction as well 2hr and mostly time frame its overbought
  • #92,468
  • Oct 7, 2015 8:12am Oct 7, 2015 8:12am
A sustained close above 0.7220 becomes prerequisite for the AUDUSD to aim for 0.7285 and 0.7350 resistance levels while a close below 0.7200 mark can quickly pull it back to 0.7100 area.
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  • #92,469
  • Oct 7, 2015 8:35am Oct 7, 2015 8:35am
I would like to see its return to trend channel. 0.7110 would be nice buy opportunity.
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  • #92,470
  • Oct 7, 2015 9:31am Oct 7, 2015 9:31am
Very clear uptrend. Shall not fight it. Radio silence for awhile to focus on my trading and i became more profitable when i remove noise and media from my trading zone.

Buy on retracement as i see more upside to go.

My 4hr chart, clear uptrend.
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  • #92,471
  • Oct 7, 2015 9:39am Oct 7, 2015 9:39am
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+
Clearing all remaining longs here @ 7225.

technically, 0.755x target still open BUT as mentioned a couple of weeks ago, Yellen's comments the week after the last meeting have dampened the prospects of the target. Some reasonably strong resistance in this 723x/735x zone and Commodities are looking toppish so I am not inclined to ride the pig any further.

Turning my attention to equities which may be topping out and especially oil, which is hitting a strong resistance zone at 49.x/50.x and preparing for a potential scary drop.
  • #92,472
  • Oct 7, 2015 9:42am Oct 7, 2015 9:42am
Quoting SkyrEk
Very clear uptrend. Shall not fight it. Radio silence for awhile to focus on my trading and i became more profitable when i remove noise and media from my trading zone. Buy on retracement as i see more upside to go. My 4hr chart, clear uptrend. {image}
i am seeing one failed attempt to make high. on the other hand, no lower low yet, but close, so be careful. below 7212 will be lower low according to my chart
As Above, So Below
  • #92,473
  • Oct 7, 2015 10:04am Oct 7, 2015 10:04am
Quoting Dano12
1h {image}
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  • #92,474
  • Oct 7, 2015 10:33am Oct 7, 2015 10:33am
Quoting tashkent
{quote} i am seeing one failed attempt to make high. on the other hand, no lower low yet, but close, so be careful. below 7212 will be lower low according to my chart
I see price exhaustion, will be going for a small retracement and from there on i will add more longs as long price is supported by .72 whole number. Will be cautious though.
  • #92,475
  • Oct 7, 2015 10:45am Oct 7, 2015 10:45am
first short taken to test the depth of the water
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As Above, So Below
  • #92,476
  • Oct 7, 2015 11:13am Oct 7, 2015 11:13am
one thing to me's for sure (as usual, unless any unprecedented data or utterance from central bank peeps) - that the AUD is still going up. it's just the dilemma of where to enter and when to exit and how long. but if riding the trend from the bottom, patience is key. at this moment what i see is that the market is pulling back for a breather after a tough day, ahead of the uptrend line.

as @Skyrek has suggested, keep the noise out, watch the price action and keep calm + i'd be weary of letting temptation lead me into trying short moves until a reversal has taken place.
  • #92,477
  • Oct 7, 2015 11:39am Oct 7, 2015 11:39am
Quoting tashkent
first short taken to test the depth of the water {image}
me too, but try long gbp/aud
  • #92,478
  • Oct 7, 2015 12:14pm Oct 7, 2015 12:14pm
AU quarterly candle..

target is .7425 and .7525
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #92,479
  • Oct 7, 2015 3:39pm Oct 7, 2015 3:39pm
Quoting ell3
I'm also cautious of the "ending" of the bull run.
then 7 hours later lol check your posts man i try to ignore them but it's hard when so much bs is comming out i wonder if you'r just trying to confuse people or your just clueless.

"one thing to me's for sure (as usual, unless any unprecedented data or utterance from central bank peeps) - that the AUD is still going up. it's just the dilemma of where to enter and when to exit and how long. but if riding the trend from the bottom, patience is key. at this moment what i see is that the market is pulling back for a breather after a tough day, ahead of the uptrend line.

as @Skyrek has suggested, keep the noise out, watch the price action and keep calm + i'd be weary of letting temptation lead me into trying short moves until a reversal has taken place. "

if you'r going to blabber 24/7 at least put in some tp's on your fancy words otherwise they'r just occupying reading space. oh yeah it's going 75ish lmao but then again you said so yourself every5 mins can change so you'r never really wrong. epic
  • #92,480
  • Oct 7, 2015 3:44pm Oct 7, 2015 3:44pm
Quoting SkyrEk
Very clear uptrend. Shall not fight it. Radio silence for awhile to focus on my trading and i became more profitable when i remove noise and media from my trading zone. Buy on retracement as i see more upside to go. My 4hr chart, clear uptrend. {image}
Wouldn't price need to break 7280 resistance zone for a clear uptrend on 4hr chart? Anything lower and price could just be ranging.
Hope for the best, prepare for the worst.
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