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AUD/USD

  • #93,121
  • Oct 26, 2015 9:11am Oct 26, 2015 9:11am
As usual, there is no change in my analysis at this moment. Been holding the position for the past 3 weeks and will definately extracted the profit for the sack.

YES, the market will do whatever that it feels like.

So far no long terms bearish trend appear in my setups.

YES, the bullsih trend is on and off from peak to peak, still it is controlling the market.

Some people would short and long depending on their setups....but me, i will swing-off with the current trend (counter-trend trades is not my style).

Good pips for all, especially me!
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  • #93,122
  • Oct 26, 2015 9:49am Oct 26, 2015 9:49am
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This is my working chart.

Respecting the Daily Double Bottom.

Upper blue zone be the selling zone and the lower blue zone which we are in now is the buying zone.

Realized I did not share my chart work before I started sharing opinion.

Cheers!
  • #93,123
  • Oct 26, 2015 9:52am Oct 26, 2015 9:52am
U.S. housing data seemed to only have a very minimal instant effect, but maybe enough to push the bullish trend back upward. neverless, I did close out of my short while it was still profitable. good luck all!
  • #93,124
  • Oct 26, 2015 6:26pm Oct 26, 2015 6:26pm
Nice trendline bounce and movement on 15min and 30min on EURAUD....respecting the trendline...

Initiated a LONG and expecting 100+ pips on this and stop loss under previous daily candle.

Nice price action on that also so it should shoot up.
  • #93,125
  • Oct 26, 2015 6:31pm Oct 26, 2015 6:31pm
Quoting Lionheartfx1
Nice trendline bounce and movement on 15min and 30min on EURAUD....respecting the trendline... Initiated a LONG and expecting 100+ pips on this and stop loss under previous daily candle. Nice price action on that also so it should shoot up.
Hi LionheartFx does that trendline matter. It has repelled price every time. I don't mind going long this pair but I would like to see a close above the trend line first
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If you think you can or cannot do it you are correct
  • #93,126
  • Oct 26, 2015 6:48pm Oct 26, 2015 6:48pm
Quoting Olu
{quote} Hi LionheartFx does that trendline matter. It has repelled price every time. I don't mind going long this pair but I would like to see a close above the trend line first {image}
Mate with this pair I generally don't stay long fyi.....I look for 50 pips+ if im lucky maybe 100.

Im in and out. I pull out very quick on this pair and im quick on the trigger to prevent sudden insane movements.

This pair due to its insane movement is easy to get 50 pips.

I basically just swing trade this and use AUDUSD as a trigger for my long and short entries

I think it will break past that line knowing this pair if you look back previous 4hr candles it shoots down like crazy and retraces at least 300 pips.

Of course I never get the full pips as you know this is fx and you cannot grab every pip, so just be thankful what you can get.
  • #93,127
  • Oct 26, 2015 6:50pm Oct 26, 2015 6:50pm
Quoting Olu
{quote} Hi LionheartFx does that trendline matter. It has repelled price every time. I don't mind going long this pair but I would like to see a close above the trend line first {image}
Btw that chart you posted on is for AUDUSD btw and not EURAUD.

I am talking about EURAUD.

Well anyway if your chart proves right then yeh EURAUD longs would be perfect.

Aussie falls, EURAUD up its good for my trade
  • #93,128
  • Oct 26, 2015 6:53pm Oct 26, 2015 6:53pm
Quoting Lionheartfx1
{quote} Mate with this pair I generally don't stay long fyi.....I look for 50 pips+ if im lucky maybe 100. Im in and out. I pull out very quick on this pair and im quick on the trigger to prevent sudden insane movements. This pair due to its insane movement is easy to get 50 pips. I basically just swing trade this and use AUDUSD as a trigger for my long and short entries I think it will break past that line knowing this pair if you look back previous 4hr candles it shoots down like crazy and retraces at least 300 pips. Of course I never get the...

I hear you Lionheart
If you think you can or cannot do it you are correct
  • #93,129
  • Oct 26, 2015 7:11pm Oct 26, 2015 7:11pm
Im following the descending triangle pattern, im sure plenty of others are also. Waiting for a breakout.

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  • #93,130
  • Oct 26, 2015 7:57pm Oct 26, 2015 7:57pm
Setup to buy at the completion of correction wave (iv) for an impulse (v).
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Elliott Wave for optimum entry, exit and risk management of trades
  • #93,131
  • Oct 26, 2015 9:26pm Oct 26, 2015 9:26pm
china is really pissing me off with their irresponsible surprise announcements. twice in three trading days.
just entered a short on the gbpaud looking at a good setup, and this thing just got me stopped out in less than 5mins. like throwing money down the drain.
  • #93,132
  • Oct 26, 2015 9:28pm Oct 26, 2015 9:28pm
Nice movement on EURAUD finally ! easy 60 pips !
  • #93,133
  • Oct 26, 2015 9:30pm Oct 26, 2015 9:30pm
Quoting ell3
china is really pissing me off with their irresponsible surprise announcements. twice in three trading days. just entered a short on the gbpaud looking at a good setup, and this thing just got me stopped out in less than 5mins. like throwing money down the drain.
Gotta agree with you on that.
I'm intending to scalp trade for now since the consolidation is taking forever to complete, awaiting for a breakout for either direction.
  • #93,134
  • Oct 26, 2015 9:30pm Oct 26, 2015 9:30pm
Quoting ell3
china is really pissing me off with their irresponsible surprise announcements. twice in three trading days. just entered a short on the gbpaud looking at a good setup, and this thing just got me stopped out in less than 5mins. like throwing money down the drain.
I would avoid shorts on GBPAUD and EURAUD for the time being....those 2 pairs are known for insane movements upwards after shitcanning themselves....

Especially AUDUSD just dropped 28 pips all of a sudden.....

Hope you didnt lose to much....

I was tempted to long GBPAUD but just stuck to EURAUD as that one has a nice R/R ratio for a long.
  • #93,135
  • Oct 26, 2015 9:42pm Oct 26, 2015 9:42pm
Quoting Lionheartfx1
Nice movement on EURAUD finally ! easy 60 pips !
you got lucky dude.
now, to fade the move or not? im thinking yes, good r/r. unless you're telling me china still has more surprises up its sleeve.
  • #93,136
  • Oct 26, 2015 9:46pm Oct 26, 2015 9:46pm
Quoting ell3
{quote} you got lucky dude. now, to fade the move or not? im thinking yes, good r/r. unless you're telling me china still has more surprises up its sleeve.
Well I don't care what china does I just trade what I see

I let price action do all the talking.

I just go for quick hits with these pairs win or lose, all good.

Longs are still good imo because the stop loss from previous daily is only about 100 pips and say if you are going for 100-200 pips its still a good
R/R I reckon.

If china does more funny games AUDUSD will take a tumble and EURAUD will go up again (not to much I hope) as I have a pending long around 0.71.
  • #93,137
  • Oct 26, 2015 9:50pm Oct 26, 2015 9:50pm
Quoting Lionheartfx1
{quote} Well I don't care what china does I just trade what I see I let price action do all the talking. I just go for quick hits with these pairs win or lose, all good. Longs are still good imo because the stop loss from previous daily is only about 100 pips and say if you are going for 100-200 pips its still a good R/R I reckon. If china does more funny games AUDUSD will take a tumble and EURAUD will go up again (not to much I hope) as I have a pending long around 0.71.
hang on, im on gbpaud not euraud. for that, i dont expect the pound to stay where it is and aud has been in the ranges so a short trade makes sense, especially at this level now. price action would not have suggested a sudden cut by the pboc. euraud should be a long trade, but you got lucky cos you got there the express route
  • #93,138
  • Oct 26, 2015 9:53pm Oct 26, 2015 9:53pm
Quoting ell3
{quote} hang on, im on gbpaud not euraud. for that, i dont expect the pound to stay where it is and aud has been in the ranges so a short trade makes sense, especially at this level now. price action would not have suggested a sudden cut by the pboc. euraud should be a long trade, but you got lucky cos you got there the express route
Yeh dunno if luck has anything to do with it lol....maybe but I was just testing longs since Monday even though it was moving painfully slow and only started seeing some upward movement during New York session.

A short would also be valid on GBPAUD but the problem is if EURAUD goes up that follows as well which sucks if you are on the wrong end of the trade....
  • #93,139
  • Oct 26, 2015 9:55pm Oct 26, 2015 9:55pm
I just did a quick 20 pip scalp short on GBPAUD and im out LOL.

Might go up even further....
  • #93,140
  • Oct 26, 2015 10:10pm Oct 26, 2015 10:10pm
1.53000 is a good number to bounce off..
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