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AUD/USD

  • #92,741
  • Oct 14, 2015 6:38pm Oct 14, 2015 6:38pm
0.7288 incoming
  • #92,742
  • Oct 14, 2015 7:00pm Oct 14, 2015 7:00pm
I think storm is cleared....reentered long again

Nice 1hr price action, load em up boys !
  • #92,743
  • Oct 14, 2015 7:04pm Oct 14, 2015 7:04pm
the bulls seem marginally in control. almost entered a long @ 7310 but felt uneasy and didnt pull the trigger. argh, would have been a nice 20pip one minimum.
still believe we are bullish short term, at least until 7357 where the 100dma sits. perhaps the european session later will confirm it.
  • #92,744
  • Oct 14, 2015 7:05pm Oct 14, 2015 7:05pm
Quoting Lionheartfx1
I think storm is cleared....reentered long again Nice 1hr price action, load em up boys !
Locked and loaded. Been waiting for this move into 75cents for 6 weeks.

.7460 is first TP and .7525 is second TP (so average is .7492)
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #92,745
  • Oct 14, 2015 7:08pm Oct 14, 2015 7:08pm
Quoting Lionheartfx1
I think storm is cleared....reentered long again Nice 1hr price action, load em up boys !
nice. loaded too
  • #92,746
  • Oct 14, 2015 7:09pm Oct 14, 2015 7:09pm
Quoting Rag2RichesFX
{quote} Locked and loaded. Been waiting for this move into 75cents for 6 weeks. .7460 is first TP and .7525 is second TP (so average is .7492) {image}
Yes yes....parity again maybe? That be nice

Wishful thinking hehehe
  • #92,747
  • Oct 14, 2015 7:10pm Oct 14, 2015 7:10pm
Quoting triciatlp
{quote} nice. loaded too


Good traders think alike. Nice work.
  • #92,748
  • Oct 14, 2015 7:18pm Oct 14, 2015 7:18pm
Quoting TheJube
0.7288 incoming
Hows that working out for you? Too many comments on here without some nouse to back it up! Are you talking long-term, short-term etc? if you want some credit and people to take you seriously then give some reasoning behind your post or at least a chart.

Look at Rag2RichesFX for instance plenty of reasoning behind trades not just a hunch.
  • #92,749
  • Oct 14, 2015 7:20pm Oct 14, 2015 7:20pm
Quoting rexxen
{quote} Hows that working out for you? Too many comments on here without some nouse to back it up! Are you talking long-term, short-term etc? if you want some credit and people to take you seriously then give some reasoning behind your post or at least a chart. Look at Rag2RichesFX for instance plenty of reasoning behind trades not just a hunch.
there is no reason to go for 0.7500 either like he said. he was loading longs when aussie fell from 0.7370 to 7230. he isn't going to tell you abt his losing trades
  • #92,750
  • Oct 14, 2015 7:26pm Oct 14, 2015 7:26pm
Quoting giveachance
{quote} there is no reason to go for 0.7500 either like he said. he was loading longs when aussie fell from 0.7370 to 7230. he isn't going to tell you abt his losing trades
I don't disagree with you, I never said he was right, I said he at least provides an explanation, up to you to decide based on your trading strategy or whatever? Is that not a fair comment? Just saying going to 0.7288 or whatever, who does that help?
  • #92,751
  • Oct 14, 2015 7:30pm Oct 14, 2015 7:30pm
Quoting Rag2RichesFX
{quote} Locked and loaded. Been waiting for this move into 75cents for 6 weeks. .7460 is first TP and .7525 is second TP (so average is .7492) {image}
Hi. What is the rationale behind this move? The odds have increased recently for RBA making another cut in a fortnight with Westpac increasing its home loan rates yesterday. So far RBA has been reluctant to cut rates due to booming property prices. The banks might have just given RBA some breathing space to now continue with easing monetary policy further. Employment figures released today don't seem to be good either.
So I would like to understand why you think AUD would go as high as 75c as fundamentals show a different picture.
  • #92,752
  • Oct 14, 2015 7:33pm Oct 14, 2015 7:33pm
Quoting rexxen
{quote} I don't disagree with you, I never said he was right, I said he at least provides an explanation, up to you to decide based on your trading strategy or whatever? Is that not a fair comment? Just saying going to 0.7288 or whatever, who does that help?
don't make that out into an issue dude. i think the guy was just making a quick jibe dreaming for it to reach 7288. maybe he went short from there or something.

no clear indication of 7500 either, except that it's a talked about expected level IMHO. i'd rather take it step by step... through each level of resistance. the fundamentals still look iffy so what we're getting is still a technical rally i believe (although the banks seem to say the RBA is likely to 'disregard' the latest employment data).

ps> im a trader that places a high emphasis on fundamentals, so don't expect me to post charts either!
  • #92,753
  • Oct 14, 2015 7:38pm Oct 14, 2015 7:38pm
Quoting ell3
{quote} don't make that out into an issue dude. i think the guy was just making a quick jibe dreaming for it to reach 7288. maybe he went short from there or something. no clear indication of 7500 either, except that it's a talked about expected level IMHO. i'd rather take it step by step... through each level of resistance. the fundamentals still look iffy so what we're getting is still a technical rally i believe (although the banks seem to say the RBA is likely to 'disregard' the latest employment data). ps> im a trader that places a...
Just looking out for all your juniors who come here to learn something. By all means let him post rubbish.. And Mr Fundamentals, remember this, people move the market not news.. scratch ya head for a while and when you figure that out you will make a living in this ridiculous game.

Peace, leave you noobs to it.
  • #92,754
  • Oct 14, 2015 7:40pm Oct 14, 2015 7:40pm
Quoting Rag2RichesFX
{quote} Locked and loaded. Been waiting for this move into 75cents for 6 weeks. .7460 is first TP and .7525 is second TP (so average is .7492) {image}
Still holding my AUD longs since last week, good call so far...

Tried scalping some NZD short positions but didn't work out too well, they were only ~ 1 lot, it was worth a shot, nothing serious... Got one or two trades out of NZD longs but should have held NZD since yesterday evening, but all good, doing really well on the loaded up AUD longs...
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-10-14 at 10.42.39 PM.png Size: 230 KB
  • #92,755
  • Oct 14, 2015 8:17pm Oct 14, 2015 8:17pm
btw, off track question ive been wanting to check with you guys:

does anyone recall what happened around 21-23 aug? on one of those days the AUD and NZD dived and recovered something like 250pips each.
was away from the trading desk on a month long tour of europe so wasn't keeping up.
  • #92,756
  • Oct 14, 2015 8:19pm Oct 14, 2015 8:19pm
ell3, this was when the chinese stock market had that huge crash. AUD/NZD are linked to Chinas success
  • #92,757
  • Oct 14, 2015 9:44pm Oct 14, 2015 9:44pm
so what we saw 2 days ago was a correction?

reports say we will be back down to 0.69 and other say back up to 0.76 , which one to believe!

this pair is such a mess at the moment... going up even after Australian data earlier today.
  • #92,758
  • Oct 14, 2015 9:51pm Oct 14, 2015 9:51pm
Long SLed at 7340, and short entered at the same time. I'm guessing move was due to bad Japanese industrial data? I will be on short SL and targetting 73, which is just above the hourly uptrend.
  • #92,759
  • Oct 14, 2015 9:53pm Oct 14, 2015 9:53pm
out long after 20 pips profit
  • #92,760
  • Oct 14, 2015 10:08pm Oct 14, 2015 10:08pm
Quoting giveachance
{quote} there is no reason to go for 0.7500 either like he said. he was loading longs when aussie fell from 0.7370 to 7230. he isn't going to tell you abt his losing trades
No reason? Look at the monthly chart. It's a morning star and we are at the lowest price we have seen in 6 years. I think that is a good reason.

I loaded longs at 7220/30.. and add to winning position up until target is reached.

Just like there is "no reason" for Aussie to rally from .6000 to 1.1080 in 2009??
Oh wait! Yes there was. It's called an undervalued market.

Why did Aussie rally from 8800 to 9700 in 2013? (900 pips)
Why did Aussie rally from 8650 to 9500 in 2014? (850 pips)
Why did Aussie rally from 7525 to 8160 in April/May of this year? (635 pips)
Why is Aussie rallying right now? It's called a correction... (Only 450 pips so far, it definitely has room to go higher)
Not just a correction, it very well could be the bottom.

If you are short, you are trading against the monthly candle. IE... not the smartest trade.

Of course there will be times when you can scalp against the monthly candle... but they are not higher probability than going with the monthly candle.

The 50% retracement of 8162 to 6900 is at 7534...
The 161.8% extension of 7280 to 6935 is at 7491
Be hopeful in a winning position, and fearful in a losing position.
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